Recent Changes in Relation to Determination of Companies Subject to Independent Auditing
The Presidential Decision No. 6434 on Determination of Companies subject to Independent Auditing (the “Decision”) was published in the Official Gazette on November 30, 2022. The Decision provides significant changes to the independent auditing thresholds compared to the Decision No. 2018/11597 on Determination of Companies subject to Independent Auditing, which will remain in force until January 1, 2023. With the effect of the Decision, publicly-traded companies that exceed… »
Extension of the Deadline Regarding Amendments to the Communiqué With Respect to Capital Loss and Negative Equity
The Communiqué (the “Amending Communiqué”) published in the Official Gazette on November 8, 2022, extended the deadline provided under Provisional Article 1 of the Communiqué on the Procedures and Principles Regarding Implementation of Article 376 of the Turkish Commercial Code No. 6101 (the “Implementation Communiqué”). The Implementation Communiqué was previously amended on December 26, 2020, and certain loss items were excluded from the calculation of capital loss or… »
New Provision Introduced to Decision on Drug Pricing
On 9 November 2022, the Presidential Decree numbered 6365 Amending the Decree on Pricing of Medicinal Products for Human Use (Turkish language) (Decision) was published in the Official Gazette numbered 32008. The following paragraph has been added under Article 2 of the Decision: "Discount practices that cause temporary price changes in the country/countries where the product is offered for sale, special practices related to product classification and taxation practices shall… »
Guidelines on Donation of Non-Approved Drugs
On 28 September 2022, the Turkish Medicines and Medical Devices Agency (Agency) published guidelines (Turkish language) on donation from abroad of human medicinal products that are not approved in Turkey on its official website. The guidelines have been prepared to determine the procedures and principles regarding donation from foreign companies within the scope of the Regulation on Licensing of Human Medicinal Products. The most significant provisions of the guidelines are… »
Guidelines on Use of Cookies in Turkey
The Guidelines on Use of Cookies (the “Guidelines”) was published by the Personal Data Protection Authority (the “Authority”) on June 20, 2022 which outlines good practice examples to guide data controllers. The Guidelines explain principles on use of cookies for data controllers to process data on legal grounds, use appropriate privacy notices and obtain explicit consent from data subject legally. Cookie Types Cookies are defined as low-sized, rich-format texts that allow… »
The Dangers of Basing Preliminary Injunctions on Determination of Evidence
Determination of evidence, which is one of the most important temporary legal protection measures regulated in our law, is an institution that ensures the protection of evidence that will assist the proving of the matter. Considering that the adversarial trial process is adopted in our civil procedure law, the significance of the right holder being able to have the evidence which will help them prove their rightness effectively determined, is clear. However, as will be… »