NEWSLETTER-2019-metin

91 COMPETITION LAW In practice, however, it was observed that one Board decided to allow merger/acquisition transactions for approximately four months during the period when Board attendance fell from 7 to 4 members due to the expiration of the term of office of some Board members. On the other hand, it should only be possible for a Board convening with 4 members to provide sufficient quorum for interim decisions. In this context, it may be accepted that the Board considers the decisions regarding approval or rejection of merger/acquisition transactions as interim decisions, and acts with the sufficient quorum for the interim decisions to take such decisions. In any case, since it is possible for those with an interest to bring these decisions to the courts, and the Board decisions rendered as a result of merger/acquisition notifications should be considered to be final. In addition, as provided for in Article 10 of the Law, if the Board does not take any action within 30 days from the date of notification regarding a merger or acquisition, the relevant transaction shall be deemed to have been approved, and this implied permission transac- tion would be deemed as final. Interim Decisions of the Board Unlike its final decisions, the interim decisions of the Board can- not be the subject of an annulment case in administrative courts on their own. These decisions can only be brought forward for judiciary review, together with the final decisions. Decision to launch Investigation / Pre-investigation The preliminary investigation and investigation processes are essentially a mere step in the process for the Board to make its final decision. In this context, decisions for preliminary investigation or in- vestigation are interim decisions. Therefore, when a Board decides to initiate an investigation, the decision as to the investigation itself may not be the subject of an annulment case prior to the conclusion of an investigation and the Board making its final decision.