Memo Regarding Recent Regulations Concerning the Food & Agriculture Sectors
MEMO REGARDING THE REGULATION ON PHARMACOLOGICALLY ACTIVE SUBSTANCES IN FOODSTUFFS OF ANIMAL ORIGIN AND THE REGULATION ON THE ADDITION OF VITAMINS AND MINERALS AND OF CERTAIN OTHER SUBSTANCES TO FOOD Two important regulations concerning food business operators within the food, agriculture and livestock sectors entered into force after being published in the Official Gazette dated 7 March 2017 and numbered 30000. Within this scope detailed information regarding the Turkish Food Codex Regulation on the Classification of Pharmacologically Active Substances in Foodstuffs of Animal Origin and Residue Limits and the Turkish Food Codex Regulation on the Addition of Vitamins and Minerals
Guidebook of Company Incorporation and Legal FDI Applications in Turkey
Pursuant to the Turkish Commercial Code (“TCC”) numbered 6102, the corporations consist of collective company, commanded company, ordinary partnership, joint stock company and limited liability company. Within the scope of the TCC, collective and commanded company are deemed as partnerships whereas joint stock, limited liability and commanded company limited by the shares are deemed as corporations. Many important amendments were introduced by the TCC which entered into force in 2012 such as single shareholder joint stock and limited liability company, single member board, repealing the necessity of being a shareholder for the board members and the application of ultra vires principle. In
Amendments on the Free Zones Law
The amendments on the Free Zones Law (“FZL”) numbered 3218 for facilitating investments and decreasing the financial burden of the public were published in the Official Gazette of 24.02.2017 numbered 29989. The details regarding these amendments are provided below: Expropriation Within the scope of the amendment a provision was added to the 5th Article on organization of free zones which determines that the Council of Ministers may decide for urgent expropriation of lands and facilities that are declared as a free zone. Expropriation procedures are undertaken as per the Expropriation Law numbered 2942 under Turkish law. In case of an urgent expropriation,
Energy Performance Certificate Should Be Obtained for Existing Buildings Before 2 May 2017
What is an Energy Performance Certificate?Energy Performance Certificate should be obtained for existing and new buildings pursuant to the Energy Efficiency Law numbered 5627 and the Regulation on Energy Performance in Buildings. Energy Performance Certificate is a document which includes information about the minimum energy requirement and energy consumption classification of the building, the insulation specifications and the efficiency of heating and/or cooling systems.Which Buildings Are Required to Have Energy Performance Certificate?An Energy Performance Certificate is issued for new and existing buildings. It will be prepared by the authorized institution which will have the authority to prepare this
Regulations Within the Scope of the Law on Movable Pledge for Commercial Transactions
The regulations that are set out below which will determine the application of the Law on Movable Pledges for Commercial Transactions (“Law”) numbered 6750 have entered into force on 1.1.2017 after their publication in the Official Gazette dated 31.12.2016 and numbered 29935:Regulation on the Establishment of Right of Pledge and Exercise of Rights After Default (“Regulation on Right of Pledge”), Regulation on the Valuation of Movables within Commercial Transactions (“Regulation on Valuation”), Regulation on the Pledged Movable Registry (“Regulation on Registry”).Our explanations regarding these regulations are set out below: I. Regulation on Right of Pledge Regulation on Right of Pledge regulates
Regulation on Maritime Trade Supervision Services and the Implementation Directive
The Regulation on Maritime Trade Supervision Services (“Regulation”) was published in the Official Gazette on 16.12.2016 which was prepared by the Ministry of Transport, Maritime Affairs, and Communications. The Regulation will enter into force on 16.06.2017 accordingly real and legal persons that provide maritime supervision services shall be required to obtain a certificate of operation. Supervision Services and Certificate of Operation Within the Regulation, supervision service is defined as controlling, surveillance, measurement, and documentation services which require commercial or technical expertise within the scope of maritime trade and that are undertaken on sea, vessel, cargo, coast facility or between the relationships among
Amendments on the Commercial Advertising and Unfair Commercial Practices Regulation
Amendments were made on the Commercial Advertising and Unfair Commercial Practices Regulation (“Regulation”) which were published in the Official Gazette of 4 January 2017 and numbered 29938. The Regulation was prepared in 2015 for the following purposes pursuant to the Law on the Protection of Consumers numbered 6502:To define the principles that should be adhered by the advertisers, advertising agencies, medium corporations and all persons, establishments and corporations related to advertising, To define the procedures of review that will be undertaken within the scope of these principles, Protecting the consumers against the unfair commercial practices.All kinds of commercial advertising and
Acquisition of Turkish Citizenship by Purchasing Real Estate or Making Capital Investment
The amendment to the Article 20 of the Regulation on the Enforcement of the Turkish Citizenship Law which sets forth the (exceptional) acquisition of Turkish citizenship was published in the Official Gazette dated 12 January 2017 and numbered 29946. The amendment sets out the acquisition of Turkish citizenship via specific methods such as acquisition of property, making capital investment or generating employment. With the amendment, which entered into force on 12 January 2017, foreign citizens may acquire Turkish citizenship by a proposal of the Ministry of Interior and the Decision of the Council of Ministers provided that at least one of
(TURKISH) 680 Sayılı KHK’da Medya Hizmet Sağlayıcıları ve Sanal Ortamda İşlenen Suçlarla İle İlgili Düzenlemeler
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Default Interest Rate That Will Be Applied in 2017
The default interest rate that will be applied in 2017 has been determined by the Central Bank via the Communique on the Determination of the Default Interest Rate for Late Payments for the Provision of Goods and Services which was published in the Official Gazette of 02.01.2017, numbered 29936. As per the Communique, if the default interest rate is not set forth within the contract or the related terms are deemed invalid, the interest rate shall be 10,75 per annum for late payments to the creditor for the provision of goods and services as per the Article 1530 of the Turkish