NOTIFICATION ON FINANCIAL CRIMES INVESTIGATION BOARD WAS PUBLISHED

The Notification on Financial Crimes Investigation Board was published in the Official Gazette dated 29th of May 2009 and numbered 27239 with sequence number 8. According to the said notification, the granted time limit have been expanded for three months in order to update the account owners’ addresses for banks, intermediary institutions, PTT (Post Office…

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FIXED-TERM AND INDEFINITE-TERM EMPLOYMENT CONTRACTS

In this newsletter we will analyze types of employment contracts called fixed-term and indefinite-term employment contracts which have vital importance in the business life. The fact that employees who work within an indefinite-term employment contracts have better social protection in comparison to employees who work within a fixed-term employment contracts. However, it seems that especially…

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THE NOTICE ON AMENDING THE NOTICE WHICH WAS ALTERED THE LAW ON REGULATION OF CHEQUE PAYMENTS AND PROTECTION OF HOLDERS OF CHEQUE WAS PUBLISHED.

The Notice on amending the Notice which was altered Regulation of Cheque Payments and Protection of Cheque Holders was published in the Official Gazette, numbered 27111 and dated 15th January 2009 with series number 2009/1. The notice will be entered into force from 26th of January 2009. By this amendment, interim Article 6 of the…

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TO PURCHASE ITS OWN SHARES BY THE JOINT STOCK COMPANIES

According to Article 329 of the Code of Commerce (Türk Ticaret Kanunu- hereinafter referred to as TTK) a joint stock company (hereinafter referred to as JSC) shall not acquire or pledged its own shares. In case of violation of this provision, the transaction will be declared null and void. This means that, any agreement concerning…

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MOST RECENT DEVELOPMENTS IN SALE OF REAL ESTATE TO FOREIGN CITIZENS

I – Introduction: Stability and growth reached in the Turkish economy has attired attentions of foreign investors and foreign real persons to Turkish real estate market. The fact that Turkey has been attracting foreign investment created a need for new regulations on the right to real estate of foreign citizens. There have been many amendments…

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