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.

NEW LAW ON FINANCIAL LEASING, FACTORING AND FINANCING COMPANIES IS ENACTED:

EXPECTED EVER SINCE THE FIRST UNOFFICIAL DRAFT WAS PUBLISHED BY THE BANKING REGULATION AND SUPERVISION AUTHORITY (BRSA), BACK IN MAY 2008, THE NEW LAW ON FINANCIAL LEASING, FACTORING AND FINANCING COMPANIES NUMBERED 6361 (LAW NO. 6361) HAS ENTERED INTO FORCE AS OF 13 DECEMBER 2012 WITH THE EXCEPTION OF CERTAIN PROVISIONS–, UPON ITS PUBLICATION ON THE OFFICIAL GAZETTE NUMBERED 28496.