By the decision of EMRA dated 22.12.2016, amendments were made to the Law numbered 4628 and the Regulation on Electricity Market Consumer Services to set forth the eligible consumer limit as 2400 kWH for 2017. The decision was published on the Official Gazette on 27.12.2016 and the amendment will be applied starting from 01.01.2017. Accordingly, 8.4 million subscribers shall be able to benefit from the decreased limit provided that their monthly electricity consumption is equal to at least 82 TL.
One of the most important matters with regards to international contracts signed by companies such as distribution, dealership, corner, etc., is the protection provisions concerning the products and trademarks. As within these contracts the companies usually are required to provide rights partially or fully to the persons or companies authorised by them with regards to use of the trademark due to commercial reasons such as granting distributorship, product supply, opening a store, product marketing, etc. The matters that should be taken into consideration within this scope are set out below. The rights regarding the use of the trademark should be defined
Sovereign wealth fund may be defined as a state-owned investment fund or an entity that is typically created by governments with budgetary surpluses for mainly capital preservation and/or investment return purposes.Since 2005 at least 40 sovereign wealth funds were created globally and Turkey joined among these countries such as Canada, China, Japan, US and Qatar in 2016 by enacting the Law numbered 6741 on the Establishment of the Turkish Sovereign Wealth Fund Management Incorporation (“Law”).The Law was published in the Official Gazette dated 26.08.2016 and numbered 29813. The Law sets out that the Turkish Sovereign Wealth Fund Management Incorporation (“Company”)
The Law on Movable Pledge for Commercial Transactions (“Law”) was published in the Official Gazette on 28.11.2016 which will repeal the current Commercial Enterprise Pledge Law numbered 1447 and be in effect as of 1 January 2017. The Law aims to extend the use of moveable pledge without delivery as a security, to widen the scope of the movables that are subject of this pledge, to ensure publicity of movable pledge and to facilitate access to financing by providing alternative methods for foreclosure of movable pledges. The Regulation which will determine the procedures and principles for various matters within the scope of
The Law on Movable Pledge for Commercial Transactions (“Law”) was published in the Offical Gazette on 28.11.2016. The Law will repeal the current Commercial Enterprise Pledge Law numbered 1447 and be in effect as of 1 January 2017. Various revisions are introduced to the movable pledge are with the new Law. Together with this issues that may arise due to the application of the Law are expected to be resolved with the secondary legislation. The purpose and scope of the law The Law aims to extend the use of moveable pledge without delivery as a security, to widen the scope of the
The Turkish Competition Authority decided that the 12 banks operating within Turkey breached the Article 4 of the Law on the Protection of Competition numbered 4054 ( “Law”) with its decision numbered 13-13/198-100 and dated 08.03.2013 and as a result the administrative fines set out within the decision shall be paid pursuant to this decision. The aforementioned decision was upheld upon the review by the 13th Chamber of the Council of State and the upholding decision was also finalized. Therefore, cause of action has arisen for real and legal persons that have received a loan, obtained depository or credit card services
The trade volume of electronic commerce has been increasing incrementally in our day. As per the statistics, almost 70% of the consumers in USA and %35 of the consumers in Europe use internet for shopping. Accordingly, the number of companies operating within the area of e-commerce and their size increased rapidly in the past 10 years. The Alibaba Group IPO which took place in 2014 broke an unbeaten record by reaching to 25 billion USD and it is still the largest IPO globally. In parallel with the developments above, the consumers altered their habits and thus the volume of the e-commerce