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Turkey Increases Monetary Caps for Consumer Arbitration Boards and Increases Fines for 2017
Turkey’s Ministry of Customs and Trade (“Ministry”) has increased the monetary limits for disputes which can be bought to consumer arbitration boards. Administrative... [Read More]
Turkey Amends Rules for Electricity Consumer Tariffs
Turkey has amended legislative arrangements for electricity consumer tariffs. Changes apply to pricing methods for consumers to use electricity distribution systems, expanded definitions... [Read More]
Turkey Increases Administrative Fines Under Energy Legislation 3.83% for 2017
Turkey has increased administrative fines relating to electricity, natural gas, petroleum and liquefied petroleum gas by 3.83% for 2017. The revised rates will... [Read More]
Turkey Announces Principles and Procedures for Companies Under Trusteeship of the Savings Deposit Insurance Fund Due to Alleged Terror Links
Turkey’s Deputy Prime Ministry has announced procedures and principles for management, sale, termination and liquidation of companies which are under the trusteeship of... [Read More]
Turkey Updates Processes for Changing Electricity Suppliers and Increases Scope of Information Stored in Central Database
In Turkey, electricity consumers are only entitled to choose their electricity suppliers if their energy consumption at the location exceeds a certain threshold... [Read More]
Turkey Increases Lower Limit for Fines Relating to Competition Law Infringements 3.83% for 2017
The lower limit for Administrative Fines under the Law on the Protection of Competition number 4054 has increased by 3.83% for 2017, from... [Read More]
Turkey Announces 2017 Default Interest Rate for Late Payments to Creditors Regarding Commercial Goods and Services
Turkey’s Central Bank has updated the default interest ratio to 10.75% for late payments made to creditors in the context of commercial transactions... [Read More]
Turkey Overhauls Block Exemption for Vertical Agreements the Motor Vehicle Sector
Turkey’s block exemption for distribution agreements in the motor vehicle sector has been amended. Changes aim to address problems encountered during implementation of... [Read More]
Turkey Amends How Certain Petroleum License Holders Must Prove they Meet Minimum Asset Thresholds
Turkey’s Energy Markets Regulatory Authority (“Authority”) has amended how distribution and bunker fuel delivery license holders in the petroleum market must prove they... [Read More]
Latest Measures in Turkey’s State of Emergency Introduce Employment Incentives and Fixed Currency Rate for Receivables
Turkey has taken a series of new measures involving companies and public institutions in the wake of the State of Emergency first declared... [Read More]
Turkey Updates Rules for Real Estate Investment Companies
Turkey’s Capital Markets Board (“Board”) has amended provisions governing the investments and activities of real estate investment companies (“Companies”). Notably, real estate investment... [Read More]
Turkish Competition Board: Turkish Pharmacists Association Abused Dominant Position
The Turkish Competition Board (“Board”) recently published a short form decision concluding that the Turkish Pharmacists Association had abused its dominant market position... [Read More]