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.

COVID-19 ACCELERATES INTRODUCTION OF A NEW “REMOTE WORKING REGULATION”:

The Regulation on Remote Working prepared by the Ministry of Family, Labour and Social Services, entered into force upon its publication in the Official Gazette No. 31419 and dated 10 March 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.

TERM FOR REGISTRATION WITH DATA CONTROLLERS REGISTRY EXTENDED YET AGAIN:

The Data Protection Board has extended the term for registration with data controllers registry for all data controllers until 31.12.2021.

THE TERMS OF TERMINATION PROHIBITION AND MANDATORY UNPAID LEAVE EXTENDED YET AGAIN :

The terms of termination prohibition and mandatory unpaid leave have been extended until 17 May 2021.

PERIOD OF SHORT-TERM WORKING SUBSIDY EXTENDED YET AGAIN:

Pursuant to the Presidential Decree published in the Official Gazette dated 19 February 2021, the period of short-term working subsidy has been extended until 31 March 2021.

NEW REGULATIONS INTRODUCED ON BEARER SHARE CERTIFICATES:

Several articles of the Turkish Commercial Code No. 6102 (“TCC”)  were amended with the Law No. 7262 published in the Official Gazette dated 31 December 2020

The Regulation Relating to Shipyards, Boatyards and Dry Dock Areas Has Been Amended :

RESTRICTIONS HAVE ENDED: COMPANIES CAN NOW FREELY DISTRIBUTE DIVIDENDS :

The restrictions on companies’ distribution of their profits have been lifted as of 1 January 2021. In other words, it is now possible for companies to distribute their previous year's profits and free reserves and to authorize their board of directors to distribute advance profits.

THE CEILING FOR STAMP DUTY RAISED BY 9.11% FOR 2021:

The Turkish Revenue Administration has issued the revisions to the stamp duty amounts and the ceiling that will become applicable as of 1 January 2021.