Newsletter-21

295 ENERGY LAW having an installed power equal to or less than 1 MW shall not transfer their shares from the application date until the provisional acceptance of the whole facility is finalized. Otherwise, the connection agreement Call Letters of such facilities shall be cancelled. However, the related regulation excludes the share transfers due to inheritance. Following the finalization of their provisional acceptance, the aforementioned generation facilities may transfer their shares. How- ever, the related system operator should be notified of this transfer one month prior to such transfer. The legal person related to the rel- evant generation facility shall provide the system operator the final shareholding structure within ten business days at the latest, as of the finalization of share transfer. Other Structural Restrictions The twenty-first subparagraph of Art. 31 of the Regulation re- strains certain persons from engaging in unlicensed wind or solar energy generation activities with an installed power exceeding 50 kW, within the territory of the related distribution company and within the distribution territory of which such related distribution company is a shareholder. Such persons are as follows: (i) Either direct or indirect shareholders of distribution compa- nies and authorized supplier companies, and if these share- holders are real persons, the first degree relatives of such shareholders, (ii) Persons employed within the body of the distribution com- panies and authorized supplier companies or either direct or indirect shareholders and first degree relatives of such, (iii) Legal persons who are controlled by the real and legal per- sons mentioned in the subparagraphs, above. Conclusion The Regulation on the Unlicensed Electricity Generation in the Electricity Market has been amended following a thorough evaluation process conducted by the EMRA. Although the drafts published prior