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 This has been replaced by the new Capital Markets Law dated December 30, 2012 and numbered 6362 (the “Law”).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.

The New Petroleum Law:

The Turkish Petroleum Law numbered 6491 (“Law”) has entered into force as of June 11, 2013.

Companies Must Now Be Online According to the New Website Regulation:

The New Turkish Commercial Code required under Article 1524 certain companies1 (“Company”) to have a website.

Appeal Court Rules: Right of Innocent Passage of Foreign Flag Vessels in Turkish Straits Should Be Respected:

It is almost a year since the New Turkish Commercial Code (“TCC”) came into force on 1st July, 2012 providing fundamental changes and solutions to problems that caused difficulties in the past.

New Communiqué on Real Estate Investment Companies:

The Capital Markets Board of Turkey (“CMB”) has recently published a new Communiqué On The Principles Regarding Real Estate Investment Companies (III-48.01) (“Communiqué”).

The New Postal Services Law Paves the Way for the Private Companies to Engage in Postal Service Activities:

The New Postal Services Law Numbered 6475 (“Law”) has been published in the Official Gazette dated May 23, 2013 and numbered 28655.

New General Aviation Regulation (SHY-6B) on Non-Commercial Aviation Activities:

A new General Aviation Regulation (SHY-6B) numbered 28647 (“Regulation”) relating to non-commercial aviation activities and regulating the licensing principles applicable to the non-commercial aviators as well as the procedures and standards they are subject to came into force on May 14, 2013.

New Regulation on Incorporation and Activities of Financial Leasing, Factoring and Finance Companies:

A new Regulation on Principles Regarding the Incorporation and Activities of Financial Leasing, Factoring and Finance Companies (“Regulation”) has entered into force as of April 24, 2013.