NEW COMMUNIQUE INTRODUCED ON NOTIFICATION OBLIGATIONS FOR TRANSFER OF BEARER SHARES:

The Communiqué on the Notification and Registration of Bearer Share Certificates to the Central Securities Depository has come into force upon its publication in the Official Gazette dated 06/04/2021.

THE COMMUNIQUÉ ON DE MINIMIS REGULATION IN COMPETITION LAW ENTERED INTO FORCE:

Communiqué numbered 2021/3 on Agreements, Concerted Practices, Acts and Conduct of Association of Undertakings that Do Not Considerably Restrict Competition (“Communiqué”) was published in the Official Gazette dated 16 March 2012 and numbered 3425 and entered into force the same day. The Communiqué shall not only apply to future investigations but also to preliminary investigations and investigations that are ongoing on the date of its entry into force.

GOVERNMENT PUBLISHES EXCEPTIONS TO RESTRICTIONS ON DISTRIBUTION OF PROFITS:

Exceptions to restrictions on companies’ distribution of their net profits in 2019 was published in the Official Gazette on 17 May 2020 through the Communiqué on the Principles and Procedures of Implementation of the Temporary Article 13 of the Turkish Commercial Code and entered into force the same day.

AMENDMENTS INTRODUCED TO THE COMMUNIQUE ON THE EXCEPTIONS TO FOREIGN CURRENCY CONTRACT PROHIBITIONS:

The scope of exceptions to foreign currency contract prohibitions has been amended.