The Communique ("Communique") Concerning Payments to Be Made by the Joint-stock and Limited Liability Companies As per the Law no.4054 has been published in the Official Gazette dated 31 March 2017. Through the aforementioned Communique, the principles of payments to be made at a rate of four per ten thousand of the capital of new joint-stock and limited liability companies' and of the reminder in case of capital increase have been identified, pertaining to the sub-clause (c) of the first clause within Article 39 concerning the revenue of Competition Authority ("Authority") within the Law ("Law") on the Protection of Competition no.4054. Certain essential matters existing in the Communique which was enacted as of its date of promulgation 31 March 2017 are provided below: - Payments related to establishments and capital increase Pertaining to the Communique, payments to be made at a rate of four per ten thousand of the capital of new joint-stock and limited liability companies' and of the reminder in case of capital increase, within the scope of the Law's Article 39, would be collected by the units authorized for that on behalf of the Competition Authority. The receipt that would be issued by the collection units in return for the payment would be considered as essential to the handling of establishment and capital increase transactions; registrations will not be entered unless the receipt is not submitted together with the other required documents in applications to the Trade Registry. The company's trade name, paid amount and information on the payment that it had been made on behalf of the Authority should be indicated over the receipt. As per the Article 136 of Turkish Code of Commerce, in the circumstance that capital increase occurs or its formation changes resulting from the acquisition of partnerships in state of joint-stock or limited liability, payment would be made at a rate of four per ten thousand only over the increased amount. The payment would be handled in the same way for the capital increases by partnerships benefitting of the registered capital system within the registered capital ceiling entered into trade registry and the concerning receipt should be submitted to the Trade Registry with the certificate of registration issued by the Capital Markets Board and registry will not occur otherwise. - Withdrawal from establishment or capital increase and payment of an incorrect amount In the circumstance that any withdrawal from establishment or capital increase takes place, for the refund of the paid amount, an application to the Authority should be submitted with a petition by attaching the desistance decision with a notary certification and document issued by the Trade Registry indicating that the registration did not take place. In case of an amount exceeding the required amount, a letter indicating the amount subject to refund which is drafted by the Trade Registry upon written demand should be submitted to the Authority by being attached to the petition together with the receipt. In case the payment is made at a missing amount, the missing amount would be paid to an authorized unit and both of the receipts would be submitted to the relevant Trade Registry. - Liability of the authorized unit and Trade Registry The unit authorized for collection is liable for transferring the collected amounts to the Authority completely, accurately and on time, sending the notification list concerning the aforementioned payment to the Authority within the period identified on the protocol; while the Trade Registry is liable for searching and checking whether the payment is made completely and accurately, the receipt has been drafted in line with those principles or not. - Transition terms Pursuant to the Communique, for determining the matters concerning implementation, the terms existing in the Principles Concerning Payments By Joint-stock and Limited Liability Companies As Per The Law no.4054 published in the Official Gazette dated 1 October 2004, removed through a communique and the Communique (communique no.2010/5) Concerning Payments By Joint-stock and Limited Liability Companies As Per The Law no.4054 published in the Official Gazette dated 5 October 2010 would be applicable until the protocol that would be designed among the Authority and the relevant collection unit is enacted. Our explanations provided above include general information on the issue. No responsibility can be claimed against
EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.
Best Regards,
Kuzey YMM ve Bağımsız Denetim A.Ş. | 
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