Recent Keynotes of December 2016

International Agreements

• Law numbered 6760 on the Service Trade Agreement within the Scope of the Framework Agreement Establishing a Free Trade Area between the Republic of Turkey and the Republic of Korea entered into force through publication in the Official Gazette dated 24.11.2016 and numbered 29898.
• Law numbered 6765 on the Turkish Stream Natural Gas Pipeline Project Intergovernmental Agreement between the Republic of Turkey and the Russian Federation entered into force through publication in the Official Gazette dated 6.12.2016 and numbered 29910.

Resolutions of the Council of Ministers

• The Resolution of the Council of Ministers dated 31.10.2016 and numbered 2016/9538 regarding the Treasury Support to Credit Guarantee Funds was published in the Official Gazette dated 22.11.2016 and numbered 29896.
• The Resolution of the Council of Ministers dated 17.10.2016 and numbered 2016/9495 regarding Investment Incentives on a Project Basis was published in the Official Gazette dated 26.11.2016 and numbered 29900.
• The Additional Resolution of the Council of Ministers dated 21.11.2016 and numbered 2016/9548 to the Resolution regarding the Import Regime was published in the Official Gazette dated 8.12.2016 and numbered 29912.

Legislation

• Decree Law numbered KHK/677 on Taking Precautions Regarding the State of Emergency entered into force through publication in the Official Gazette dated 22.11.2016 and numbered 29896.
• Decree Law numbered KHK/678 on Making Adjustments Regarding the State of Emergency entered into force through publication in the Official Gazette dated 22.11.2016 and numbered 29896.
• The Regulation on the Amendment to the Regulation Pertaining to the Natural Gas Market entered into force through publication in the Official Gazette dated 23.11.2016 and numbered 29897.
• Communiqué numbered 2016/50 on Prevention of Unfair Competition in Importation entered into force through publication in the Official Gazette dated 23.11.2016 and numbered 29897.
• Law numbered 6755 on the Modified Acceptance of the Decree Law on Taking Precautions Regarding the State of Emergency and on Making Adjustments in Institutions and Organizations entered into force as of 15.7.2016 for Article 37, and through publication in the Official Gazette dated 24.11.2016 and numbered 29898 for the remaining articles.
• Law numbered 6757 on the Modified Acceptance of the Decree Law on Making Adjustments in Institutions and Organizations entered into force through publication in the Official Gazette dated 24.11.2015 and numbered 29898.
• Law numbered 6758 on the Modified Acceptance of the Decree Law on making Adjustments regarding the State of Emergency entered into force as of 31.8.2016 for Article 45, and through publication in the Official Gazette dated 24.11.2016 and numbered 29898 for the remaining articles.
• General Communiqué numbered 3 on Law numbered 6736 on Debt Restructuring Regarding Debts entered into force through publication in the Official Gazette dated 25.11.2016 and numbered 29899.
• General Communiqué numbered 4 on Law numbered 6736 on Debt Restructuring Regarding Debts entered into force through publication in the Official Gazette dated 2.12.2016 and numbered 29906.
• Prime Ministry Circular numbered 2016/27 regarding the Trade Facilitation Board was published in the Official Gazette dated 3.12.2016 and numbered 29907.
• The Communiqué on Signing of the Memorandum of Association in the Registry of Commerce entered into force through publication in the Official Gazette dated 6.12.2016 and numbered 29910.
• Communiqué numbered 2016/49 on the Prevention of Unfair Competition in Importation entered into force through publication in the Official Gazette dated 7.12.2016 and numbered 29911.
• The Communiqué on Determination of Implementation Procedures and Principles of Investment Finance Program of 2017 entered into force through publication in the Official Gazette dated 13.12.2016 and numbered 29917 for Articles 4, 10, 22 and 23, and as of 1.1.2017 for the remaining articles.
• Exportation: Communiqué numbered 2016/11 on the Frontier Trade Implementation entered into force through publication in the Official Gazette dated 13.12.2016 and numbered 29917.

Competition Board Decisions

• The Competition Board (“Board”) granted individual exemption to the trademark license agreement between Toshiba Visual Solutions Corporation and Vestel Ticaret A.Ş. for 5 years. (24.11.2016, 16-41/666-299)
• The Board allowed the privatization of Menzelet and Kılavuzlu Hydrolectric Power Plants owned by Elektrik Üretim A.Ş., and the immovables used by these power plants through the “transfer of the operating rights.” (6.12.2016, 16-42/687-305)
• The Board granted individual exemption to the Importer Agreement between Volvo Truck Corporation and Temsa İş Makinaları İmalat Pazarlama ve Satış A.Ş., provided that it fulfils all of the conditions enumerated under Article 5 of Law numbered 4054. (6.12.2016, 16-42/692-310)
• The Board granted individual exemption to the Ground Services Agreement between TGS Yer Hizmetleri A.Ş. and Türk Hava Yolları A.O.. (15.12.2016, 16-44/707-320)

Mergers and Acquisitions

• The Board authorized the merger of International Petroleum Investment Company and Mubadala Development Company P.J.S.C. (24.11.2016, 16-41/ 663- 297)
• The Board authorized the establishment of the joint control on Allegro Sp. Zo and Ceneo Sp. Zo by Permira Advisers LLP and Cinven LLP Capital Management (VI). (24.11.2016, 16-41/665-298)
• The Board authorized the establishment of a joint venture company by TDK Corporation and Toshiba Corporation. (24.11.2016, 16-41/669-301)
• The Board authorized the acquisition of Wuhan Iron and Steel (Group) Corporation by Baosteel Group Corporation. (24.11.2016, 16-41/ 671-302)
• The Board decided that the transfer of the shares of Ateş Çelik İnşaat Taahhüt Proje Mühendislik Sanayi ve Ticaret A.Ş., owned by Erkan GÜLDOĞAN to Ercan GÜLDOĞAN and Mahmut GÜLDOĞAN is not within the subject context. (24.11.2016, 16-41/ 675-BD)
• The Board decided that the acquisition of a certain number of shares of Say Reklamcılık Yapı Dekorasyon Proje Tahhüt Sanayi ve Ticaret A.Ş. by Evren GÜLDOĞAN is not subject to authorization. (24.11.2016, 16-41/ 676-BD)
• The Board authorized the acquisition of OMV Petrol Ofisi Aliağa Akaryakıt ve LPG Depolama ve Dolum Tesisleri, which is located in Aliağa/İzmir, and is owned by OMV Petrol Ofisi A.Ş., by Renatus Marine Denizcilik ve Liman İşletmeciliği A.Ş. through leasing, and is to be operated by Socar Turkey Akaryakıt Depolama A.Ş. (6.12.2016, 16-42/ 684-303)
• The Board authorized the acquisition of the joint control of DCNS Energies SAS, which is currently under the sole control of DCNS SA, by SPI Societes de Projects Industriels, which is represented by Bpifrance Investissement and DNCS SA. (6.12.2016, 16-42/688-306)
• The Board authorized the acquisition of a certain number of shares of Polisan Boya Sanayi ve Ticaret A.Ş. through share transfer and capital increase by Kansai Paint Co., Ltd. (6.12.2016, 16-42/ 689-307)
• The Board authorized the acquisition of 100% of the shares of Örgen Gıda Sanayi ve Ticaret A.Ş. by Ajinomoto Co., Inc. (6.12.2016, 16-42/ 690-308)
• The Board authorized the acquisition of the control of A-Tex Holding A/S by Labelon Group Limited. The Board imposed an administrative fine on Labelon Group according to Article 16/1-b of Law numbered 4054, as the transaction subject to declaration had not been declared. (6.12.2016, 16-42/693-311)
• The Board authorized the acquisition of a certain number of shares of Guardian Industries Corp. by Koch Industries Inc. through KGIC Acquisition LLC. (6.12.2016, 16-42/694-312)
• The Board authorized the establishment of a joint venture between Kayı İnşaat Sanayi ve Ticaret A.Ş. and Salini Impegrilo S.p.A. for the cure, reparation, operation, medical equipment supply, and montage services related to Gaziantep Entegre Sağlık Kampüsü Project. (8.12.2016, 16-43/701-315)
• The Board authorized the acquisition of the shares of SGL GE Holding GmbH by Showa Denko K.K. (15.12.2016, 16-44/702-316)
• The Board authorized the establishment of a joint venture between IHI Corporation and Dalgakıran Makina San. ve Tic. A.Ş. (15.12.2016, 16-44/704-317)
• The Board authorized the acquisition of a certain number of shares of Publicis Yorum Tanıtım Basım ve Yayın Hizmetleri A.Ş. by Publicis Groupe Holdings B.V., and its transition from joint control to sole control. (15.12.2016, 16-44/705-318)
• The Board authorized the acquisition of the sole control of Asya Emeklilik ve Hayat A.Ş. by Turkish Agricultural Credit Cooperatives Central Association from Asya Katılım Bankası A.Ş. (15.12.2016)
• The Board decided that the acquisition of Kozbükü Hydroelectric Power Plant, owned by İdil İki Enerji San. Tic. A.Ş. by Nas Enerji A.Ş. through asset sale is not subject to authorization. (15.12.2016, 16-44/710-BD)

Energy

• Energy Market Regulatory Authority Oil Market Sector Report, September, 2016, was published on its web site on 22.11.2016.