New Changes Brought to the Environmental Permission and Licenses in Accordance With the Turkish Environmental Law:

The Ministry of Environment and Urban Planning has recently issued a Regulation on Environmental Permission and Licenses (“the Regulation”), rendering the previous regulation dated April 29, 2009 (“the Repelled Regulation”) obsolete. The Regulation will be in force as of November 1, 2014.

The Turkish Constitutional Court Rules on Controversial Omnibus Bill Provisions:

Our Client Alert dated September 2014 entitled “The New Omnibus Bill Entered into Force” identified and explained the provisions implemented by the New Omnibus Bill (“Omnibus Bill”).

Istanbul Chamber of Commerce ("ITO") Clarifies Procedures for Delegation of Board Authority:

As mentioned in our previous Client Alert “The New Omnibus Bill Entered Into Force”, the Omnibus Bill numbered 6552 (“Omnibus Bill”) has amended many laws and regulations including some articles of the Turkish Commercial Code (“TCC”).

The New Omnibus Bill Entered Into Force:

The omnibus bill numbered 6552 (“Omnibus Bill”) has been published in the Official Gazette dated September 11, 2014.

BRSA Ends Uncertainties in the Law About Payment and Electronic Money Organizations:

As mentioned under the Newsletter published in our website back in September 2013 titled “New Law on Payment & Security Reconciliation Systems, Payment Services and Electronic Money Organisations”

July 1st: Deadline for Articles of Association Compliance:

July 01, 2014 is the last day for corporations and limited liability companies to have their company agreements compliant with the new Turkish Commercial Code.

The High Council of the Appeal Court Shuts the Door on Appeals Against Rejected Injunction Applications:

Turkish law allows Claimants to seek injunctions over Defendants’ assets by way of preliminary injunction orders issued at pre-litigation stage in order to obtain security for their claims.

New Communiqué on Commercial Titles:

The Turkish Ministry of Customs and Trade has issued a Communiqué on Commercial Titles (“Communiqué”).

The Cabinet Revises Its Decree on Companies Subject to Independent Audit:

In January 2013, the Council of Ministers had issued a Decree on Determination of Equity Companies Subject to Independent Audit (“Decree”).

Court of Appeal Casts Doubt on Need for Spousal Consent in Personal Guarantees:

We previously reported in our Client Alert of February 2013 that the New Turkish Code of Obligations (the “TCO”), which came into force on 1st July, 2012 introduced major changes to form requirements in relation to personal guarantees.