ANNOUNCEMENTS
The deadline for service providers to register with IYS (Message Management System) and the transfer of current commercial electronic messages approvals to IYS systems has been postponed once again.
According to the announcement published on the website of the Ministry of Commerce on 30th of November 2020;
-The deadline to upload approvals for service providers which have over 150.000 commercial electronic message approvals has been postponed to 31 December 2020 and the deadline for the citizens to check these approvals to 15 February 2021.
-The deadline to upload for service providers which have 150.000 or below commercial electronic message approvals has been postponed to 31 May 2021 and the deadline for the citizens to check these approvals to 15 July 2021.
The terms regulated under Turkish Commercial Code provisional Article 13 paragraph 1, which entails provisions regarding distribution of profits, has been extended by 3 months. Accordingly; “Equity companies may decide to distribute only up to twenty-five percent of the net profit for the year 2019, previous year profits and free reserve funds cannot be distributed, and the board of directors cannot be authorized to distribute dividends until 30/12/2020.”
PUBLICATIONS
As per the announcement of the Personal Data Protection Authority (“Authority”) dated 10 April 2020, Binding Corporate Rules (“BCR”) has been introduced as a method regarding the personal data transfers to be performed between multinational group corporations operating in countries where adequate protection has not been provided. Please find attached our publication on the announcement of the Authority on the BCR.
Please find attached our publication on the regulations introduced by the Law on Reducing the Effects of the Novel Coronavirus (COVID-19) Pandemic on Economic and Social Life and the Law on the Amendment of Certain Laws (“Law No. 7244”) which was published in the Official Gazette No. 31102 and dated 17 April 2020.
ABOUT US
Founded in 1998 by Dr. Tennur Koyuncuoğlu and reorganized in 2005, Koyuncuoğlu & Köksal is a boutique law firm especially practicing in business law including corporate and commercial law, competition law, commercial litigation, labor law, data protection, project finance and mergers & acquisitions.
