Ongoren Law Office

Newsletter August 2010

Monthly Bulletin July 2010 - Attachment proceedings for negotiable instruments

Special Offering - Merger and acquissitions in Turkey

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Useful Informations

December 2007

The Flat Ownership Act was amended on the 14.11.2007. One of the most significant amendments in the act is that any flat owner will not be entitled to carry out additional construction, repair, installation or painting in common areas of the building unless four fifth of the flat owners give their consent in writing for renovation.

The Act seeks to resolve multidimensional problems related with mass housing and to ensure that new buildings are erected in compliance with technical and social needs of people and are earthquake resistant. Pursuant to the Act, every flat owner or owner of flat easement can resort to litigation to rearrange their land shares in case if their land shares were not assigned in proportion of their independent shares.

It is also provided in the Act that in case of a completed building on land with flat easement, flat ownership should be established within one year of the granting of permission for use of the building.

Any flat owner will not be entitled to carry out additional construction, repair, installation or painting in common areas of the building unless four fifth of the flat owners give their consent in writing for renovation. However, in the event of a court decision stating that the main building requires urgent retrofitting or main building needs consolidation, consent of the flat owners will not be sought for such retrofitting or consolidation.

Bringing an action against a flat owner for the purpose of the transfer of the title of his/her flat to other flat owners in proportion of their shares paying him/her the value of the flat on the date of the action will depend, if not agreed otherwise, on the decision of the flat owners who have the majority of votes and land shares.

Pursuant to the temporary provision in the Act, for buildings where flat easement was established, construction was completed and permission for use of the building was granted, the establishment of flat ownership within two years of the coming into force of this Act will be obligated.

PREVIOUS NEWSLETTERS:

July	2010	"THE NOTIFICATION RELATED TO PRODUCTS ON WHICH CUSTOM DUTIES ARE SUSPENDING AND WHICH WOULD HAVE TARIFF QUOTAS BY THE EUROPEAN UNION WAS PUBLISHED"
June	2010	"THE NOTICE REGARDING THE PRINCIPLES OF REGISTRATION OF SHARES TO THE BOARD AND SALE OF SHARES WAS PUBLISHED IN THE OFFICIAL GAZETTE DATED 3rd APRIL AND NUMBERED 27541"
May	2010	"THE AMENDMENTS HAVE BEEN MADE ON THE NOTIFICATION REGARDING THE RULES OF MERGING TRANSACTIONS"
April	2010	"THE GENERAL NOTIFICATION ON THE TAW PROCEDURE LAW HAS BEEN PUBLISHED"
March	2010	"The Act numbered 5951 "The Act regarding Alteration to be made in some acts and the Law on Procedure of Collection of Public Receivables" has been published in the Official Gazette dated 5th February 2010"
February	2010	"THE REGULATION ON CHANGING THE REGULATION WHICH IS ABOUT THE PRACTISE OF THE LAW ABOUT FOREIGNERS’ WORK PERMITS HAS BEEN PUBLISHED"
January	2010	"THE ANNOUNCEMENT ABOUT MAKING CHANGES ON THE ANNOUNCEMENT ABOUT INTERNATIONAL BANK ACCOUNT NUMBERS HAS BEEN PUBLISHED"
December	2009	"THE RE-ESTIMATION RATIO IN TAX PROCEDURE LAW HAS BEEN PUBLISHED"
November	2009	"THE ANNOUNCEMENT OF “THE TARIFF ABOUT MAKING A CHANGE ON THE TARIFF ABOUT ATTORNEYS MINIMUM FEE” HAS BEEN PUBLISHED"
October	2009	"THE DECLARATION ABOUT MAKING CHANGES ON THE DECLARATION CONCERNING THE MAXIMUM INTEREST RATES WHICH WILL BE APPLIED TO CREDIT CARD PROCEDURES HAS BEEN PUBLISHED."
July	2009	"THE ACT REGARDING THE ALTERATION OF THE PROPERTY OWNERSHIP LAW HAS BEEN PUBLISHED"
June	2009	"NOTIFICATION ON FINANCIAL CRIMES INVESTIGATION BOARD WAS PUBLISHED"
May	2009	"THE NOTICE ON APPLICABLE INTERESTS RATES ON REDISCOUNTS AND ADVANCES HAVE BEEN PUBLISHED."
April	2009	"THE LAW AMENDING SOME LAWS PUBLISHED IN THE OFFICIAL GAZETTE DATED 18.02.2009."
March	2009	"THE LAW AMENDING THE DECREE LAW ON PROTECTION OF TRADEMARKS HAS BEEN PUBLISHED."
February	2009	"THE NOTICE ON AMENDING THE NOTICE WHICH WAS ALTERED THE LAW ON REGULATION OF CHEQUE PAYMENTS AND PROTECTION OF HOLDERS OF CHEQUE WAS PUBLISHED"
January	2009	"The regulation on the acquisition of real property by foreign capital companies was published"
December	2008	"THE CONSTITUTIONAL COURT HAS ABOLISHED THE PROVISION WHICH WAS “PROHIBITED PRIVATE INDIVIDUALS AND LEGAL ENTITIES FROM TO GO ABROAD WHO ARE INDEBTED TO THE SAVING DEPOSIT INSURANCE FUND BOARD.”"
November	2008	"Ministry of Energy and Natural Resources Adopts a New Regulation on the State Geothermic Sources for Production of Electricity"
October	2008	"The Court of Appeal has ruled out that, the annual fee charged by banks for credit cards is unlawful."
September	2008	"Duty of Making Rent Payments Through Bank Transfer or Mail Order Brought by Paper Nr. 268 on Income Tax."
August	2008	"Real estate sale to foreign citizens re-regulated"
July	2008	"The Law on the Procedure of Collection of Public Debts is Amended"
June	2008	"The Constitutional Court approved the Istanbul 10th Enforcement Court’s appeal to strike out clause number 337/1 from the Bankruptcy and Enforcement Law which foresaw the 10 day disciplinary confinement for not declaring ones property."
May	2008	"Constitutional Court abrogated the subsection (d) of the article 3 of the Law on Direct Foreign Investment no. 4875 by its decision made on the 11.03.2008 and published on the Official Gazette on the 16.04.2008."
April	2008	"The Constitutional Court has rescinded the Paragraph (d) of the 3rd Article of the Law on Direct Foreign Investments no. 4875"
March	2008	"Amendments in the civil code, code of civil procedure of the code of intellectual and artistic works"
February	2008	"The Constitutional Court of Turkey Rejected The Annulment Case of The Law on Acquisition of Real Estates by Foreigners."
January	2008	"Law on Regulation of Internet Publishing and Struggle with Crimes Committed via Internet Publishing"
December	2007	"The Flat Ownership Act was amended on the 14.11.2007. One of the most significant amendments in the act is that any flat owner will not be entitled to carry out additional construction, repair, installation or painting in common areas of the building unless four fifth of the flat owners give their consent in writing for renovation."
November	2007	"With the law enacted in 9.11.2007, nuclear power plant construction and operation issues and principles of energy sales produced therein have been regulated. "
October	2007	"Intern lawyers will be able to work abroad"
April	2007	"Representative office establishment in Turkey"
March	2007	"Some Characteristics of Turkish Law on Foreign Employees and Employers"
February	2007	"Guarantee Contracts"
January	2007	"Validity Of Building Contracts In Return For Appartment Flats"
December	2006	"Leases In Big Shopping Centers,According To The Lessee's Point Of View"
November	2006	"Aexclusive Selling Contracts"
October	2006	"Acquisition of Rights on Intellectual and Artistic Works"
September	2006	"Letter Of Credit"
August	2006	"Real Estate Tax"
July	2006	"Free Trade Zones In Turkey"
June	2006	"Financial Lease Agreement Leasing"
May	2006	"Marital Property In Turkish Law"
April	2006	"Recogniton And Execution Of Foreign Courts Decrees"
March	2006	"Bank Guarantees In Turkish Law"
February	2006	"Basic Features Of Differencies Between A Limited Liability Company And A Joint Stock Corporation Under The Turkish Law"
January	2006	"The Measures Protecting The Rights Of Minority Of Shareholders In Joint Stock Companies"
December	2005	"Establshment Of A Lmted Lablty Company"
November	2005	"The Measures Protecting The Rights Of Minority Of Shareholders In Joint Stock Companies"
October	2005	"Divorce Causes In Turkish Law"
April	2005	"The Law Facilitating The Foreigners Purchasing Real Estates In Turkey Was Revoked By The Constitutional Court"
March	2005	"Turkey Is No Longer An Heaven For Piracy Of Works And Trademarks"
February	2005	"The Rights Of Intellectual And Artistic Works In Turkey"
January	2005	Agenda Of Turkey On The Way To Europe"
December	2004	"A Time For Turkeys Decision And Some Judicial Developments"
November	2004	"Recent News In Media For Foreign Investors "
October	2004	"Double Appeal System Was Also Accepted In Turkey"
September	2004	"The Latest Developments In Turkish Law"

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