Changes to the Recent Regulation on Company Websites:

Our readers will recall our Client Alert of June this year titled “Companies Must Now be Online According to The New Website Regulation” commenting on the new requirement for companies to create their own websites brought about by the Regulation on Company Websites (the “Regulation’’) adopted by The Ministry of Customs and Trade (“Ministry).

New Law on Payment & Security Reconciliation Systems, Payment Services and Electronic Money Organisations:

The Law on Payment and Security Reconciliation Systems, Payment Services and Electronic Money Organisations numbered 6493 (the “Law”) has entered into force as of 27 June 2013, upon its publication in the Official Gazette numbered 28690.

New Communique on Security Investment Companies:

The Communiqué on Principles Regarding Security Investment Companies (“Communiqué”) has been published in the Official Gazette dated August 29, 2013 and numbered 28750, replacing the former Communiqué dated August 5, 2011 and numbered 28016 (“Repelled Communiqué”).

Land Registry Records in Turkey Will Henceforth Be Kept Under an Electronic Environment:

The new Land Registry Communiqué (“Communiqué”) has been issued by virtue of the Resolution of the Council of Ministers dated July 22, 2013. The Communiqué was issued in the Official Gazette dated August 17, 2013 and introduced a new concept to the Turkish legislation namely Land Registry and Cadaster Information System (“TAKBIS”).

Appointment of Independent Auditors for Corporations Which Are Not Subject to Independent Audit:

The General Directorate of Domestic Trade (“General Directorate”) has recently issued a circular with respect to the Law on Amendments to the Customs Law and Other Laws and Statutory Decrees (“Law”) dated April 11, 2013 and numbered 6455.

New Circulars on (I) Subscription of Receivables as Share Capital Contribution and (Ii) Quorum for Dismissal of a Shareholder From the Partnership:

The General Directorate of Domestic Trade (“General Directorate”) has recently issued two circulars with respect to the Turkish Commercial Code (“TCC”).

Communiqué on Prospectus and Certificate of Issue:

The Communiqué on Prospectus and Certificate of Issue (the “Communiqué”) has been published in the Official Gazette dated June 22, 2013 and numbered 28685.

The Share Communiqué:

Previously, capital market instruments issued had to be registered. This has been replaced by the new Capital Markets Law dated December 30, 2012 and numbered 6362 (the “Law”).

Important Changes on Company Agreements and Electronic General Assembly System:

The Communiqué Regarding Extension Of The Deadline For The Limited Liability Companies And Corporations To Amend Their Company Agreements In Compliance With The Turkish Commercial Code (the “Communiqué”) has entered into force on June 29, 2013.

CommuniquÉ on the Sale of Capital Market Instruments:

The Communiqué On The Sale Of Capital Market Instruments (the “Communiqué”) has been published in the Official Gazette dated June 28, 2013 and numbered 28691. The Communiqué will come into effect on July 28, 2013.