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Legal Frame Work: Project finance transactions – comprising loan agreements, security agreements, and ancillary documents - are subject to the following laws: 1. The Law of Obligations; 2. The Commercial Law; 3. The Civil Law
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Presidential Decree No. 3453 (the “Decree”) introduced the new support mechanism for renewable electricity generation (“YEKDEM”) on 30 January 2021
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New regulations regarding the Valuable Housing Tax has been enacted and the Valuable Housing Tax Implementation Communiqué will be applicable from 1 January 2021.
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Capital Markets Board's new Communiqué on Exclusion from Partnership and Selling Rights and amendments to the Turkish Commercial Code regarding bearer shared entered into force.
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Law on Amendments to Certain Laws and Civil Procedure Law, dated 22 July 2020, numbered 7251, incorporated a new clause to the Turkish Insurance Law dated 3 June 2017, numbered 5684.
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The Law on Renewable Energy Support provides additional tariffs for the investors that use domestically manufactured mechanical and/or electro-mechanical components
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The deadlines for the registration date of service providers in the Commercial Electronic Messages Management System (IYS) and uploading the current approvals has been extended.
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According to the Presidential Decree (“Decree”) published on 18 September 2020, the operational deadline to benefit from YEKDEM has been extended until 31 June 2021.