Doing Business in Türkiye: Appendix 1: Table of defined terms

Anti-Money Laundering Regulation

Suç Gelirlerinin Aklanmasının ve Terörün Finansmanının Önlenmesine Dair Tedbirler Hakkında Yönetmelik, published in the Official Gazette dated January 9, 2008, and numbered 26751

Banking Law

Bankacılık Kanunu, Law no. 5411 on banking published in the Official Gazette dated November 1, 2005, and numbered 25983

Banks Association of Türkiye

Türkiye Bankalar Birliği (“TBB”), a professional organization, founded in 1958, established pursuant to the Banking Law that includes all deposit banks and development and investment banks operating in Türkiye

BDDK

BKM

Bankacılık Düzenleme ve Denetleme Kurumu, the banking regulation and supervision agency of the Republic of Türkiye

Interbank Card Center

BLT

Build-lease-transfer

Borsa Istanbul

Borsa İstanbul Anonim Şirketi, the Istanbul Stock Exchange

BO

Build-operate

BOT

Build-operate-transfer

BOTAŞ

Boru Hatları ile Petrol Taşıma Anonim Şirketi, the state-owned petroleum and gas pipeline corporation of the Republic of Türkiye

BSMV

Banka ve Sigorta Muameleleri Vergisi, banking and insurance transaction tax (“BITT”)

BTC

Baku-Tbilisi-Ceyhan crude oil pipeline

Capital Markets Board

Sermaye Piyasası Kurulu (“SPK”), the capital markets board of Türkiye

CEE

Central and Eastern Europe

Central Bank

Türkiye Cumhuriyet Merkez Bankası (“TCMB”), the Central Bank of the Republic of Türkiye

Central Registry Agency

Merkezi Kayıt Kuruluşu Anonim Şirketi (“MKK”), the Central Registry Agency of the Republic of Türkiye

Civil Code

Türk Medeni Kanunu, Law no. 4721 published in the Official Gazette dated December 8, 2001, and numbered 24607

Code of Obligations

Code of Criminal Procedure

Borçlar Kanunu, Law no. 6098 published in the Official Gazette dated February 4, 2011, and numbered 27836, came into force on July 1, 2012, except for certain provisions that came into force on July 1, 2020

Ceza Muhakemesi Kanunu, Law no. 5271 on criminal procedure published in the Official Gazette dated December 17, 2004, and numbered 25673

Commercial Code

Türk Ticaret Kanunu, Law no. 6102 published in the Official Gazette dated February 14, 2011, and numbered 27846, came into force on July 1, 2012, except for certain provisions that came into force on January 1 and July 1, 2013, and January 1, 2014

Commercial Court

Ticaret Mahkemeleri, Commercial Courts of the Republic of Türkiye

Commercial Enterprise Pledge Law

Ticari İşletme Rehni Kanunu, Law no. 1447 on commercial enterprise pledges, published in the Official Gazette dated July 28, 1971, and numbered 13909

Competition Authority

Rekabet Kurumu, the competition authority of the Republic of Türkiye

Competition Board

Rekabet Kurulu, the competition board of the Republic of Türkiye

Competition Law

Rekabetin Korunması Hakkında Kanun, Law no. 4054 on protection of competition, published in the Official Gazette dated December 13, 1994, and numbered 27846

Constitution

Türkiye Cumhuriyeti Anayasası, the Constitution of the Republic of Türkiye as entered into force on November 7, 1982, and amended from time to time

Council of State

Danıştay, the Council of State of the Republic of Türkiye

Court of First Instance

Asliye Hukuk Mahkemesi, Court of First Instance of the Republic of Türkiye

Criminal Code

Türk Ceza Kanunu, Law no. 5237 published in the Official Gazette dated October 12, 2004, and numbered 25611

Crypto Regulation

Ödemelerde Kripto Varlıkların Kullanılmamasına Dair Yönetmenlik, published in the Official Gazette dated April 16, 2021, and numbered 31456

Currency Protection Decree

Türk Parası Kıymetini Koruma Hakkında Karar, Council of Ministers Decree Numbered 32 published in the Official Gazette dated August 11, 1989, and numbered 20259, and amended from time to time

Data Protection Law

Kişisel Verilerin Korunması Kanunu, Law no. 6698 on the protection of personal data published in the Official Gazette dated April 7, 2016, and numbered 29677

Data Protection Board

Kişisel Verileri Koruma Kurumu (“KVKK”), the data protection board of the Republic of Türkiye

EBC

İcra ve İflas Kanunu, Law no. 2004 on enforcement and bankruptcy (the Enforcement and Bankruptcy Code) published in the Official Gazette dated June 19, 1932, and numbered 2128

Electricity Market Law

Elektrik Piyasası Kanunu, Law no. 6446 on electricity market published in the Official Gazette dated March 30, 2013, and numbered 28603

Energy Charter Treaty

European Energy Charter adopted in the concluding document of the Hague Conference on the European Energy Charter signed at the Hague on December 17, 1991

Environmental Law

Çevre Kanunu, Law no. 2872 on environment, published in the Official Gazette dated August 11, 1983, and numbered 18132

EPDK

Enerji Piyasası Düzenleme Kurumu, the energy market regulatory authority of the Republic of Türkiye (EMRA)

EPİAŞ

Enerji Piyasaları İşletme Anonim Şirketi, the energy market management company of the Republic of Türkiye.

Euratom

The European Atomic Energy Community

FDI

Foreign Direct Investment

Foreign Direct Investment Law

Doğrudan Yabancı Yatırımlar Kanunu, Law no. 4875 on foreign direct investment, published in the Official Gazette dated June 17, 2003, and numbered 25141

GDP

Gross Domestic Product

General BOT Law

Bazı Yatırım ve Hizmetlerin Yap-İşlet-Devret Modeli Çerçevesinde Yaptırılması Hakkında Kanun, Law no. 3996 on build-operate-transfer model, published in the Official Gazette dated June 13, 1994, and numbered 21959

General Directorate of Mining and Petroleum Affairs

Maden ve Petrol İşleri Genel Müdürlüğü, General Directorate of Mining and Petroleum Affairs which is part of the Ministry of Energy and Natural Resources of the Republic of Türkiye

General Directorate of Land Registry

Tapu ve Kadastro Genel Müdürlüğü, General Directorate of Land Registry which is part of the Ministry of Environment, Urbanization and Climate Change of the Republic of Türkiye

ICC

International Chamber of Commerce

ICSID

International Centre for Settlement of Investment Disputes

ICSID Convention

Washington Convention on the Settlement of Investment Disputes Between States and Nationals of Other States

IFRS

International Financial Reporting Standards

IMF

International Monetary Fund

Industrial Property Law

Sınai Mülkiyet Kanunu, Law no. 6769 on industrial property, published in the Official Gazette dated January 10, 2017, and numbered 29944

Industrial Zones Law

Endüstri Bölgeleri Kanunu, Law no. 4737 on industrial zones, published in the Official Gazette dated January 19, 2002, and numbered 24645

Intellectual Property Law

Fikir ve Sanat Eserleri Kanunu, Law no. 5846 on intellectual property, published in the Official Gazette dated December 31, 1951, and numbered 7981

International Accounting

Standards Board

An independent, private-sector body, formed in 2001 and operating under the IFRS Foundation, that develops and approves the International Financial Reporting Standards

International Energy Agency

The intergovernmental organization established in 1974 under the framework of OECD

International Private and Procedure Law

Milletlerarası Özel Hukuk ve Usul Hukuku Hakkında Kanun, Law no. 5718 on international private law and related procedure published in the Official Gazette dated December 12, 2007, and numbered 26728

International Workforce Law

Uluslararası İşgücü Kanunu, Law no. 6735 on international workforce, published in the Official Gazette dated August 13, 2016, and numbered 29800

ISDA

International Swaps and Derivatives Association

ISTAC

Istanbul Arbitration Centre

kV

Kilovolt

KKDF

Kaynak Kullanımını Destekleme Fonu, Resource Utilization Support Fund (“RUSF”), a tax on foreign currency loans

KDV

Katma Değer Vergisi, value added tax

Labor Law

İş Kanunu, Law no. 4857 on labor, published in the Official Gazette dated June 10, 2003, and numbered 25134

Law of Unions and Collective Bargaining Agreements

Sendikalar ve Toplu İş Sözleşmesi Kanunu, Law no. 6356 on unions and collective bargaining agreements, published in the Official Gazette dated November 7, 2012, and numbered 28460

Law on Bribery and Corruption

Mal Bildiriminde Bulunulması, Rüşvet ve Yolsuzluklarla Mücadele Kanunu, Law no. 3628 on declaration of property and combating bribery and corruption published in the Official Gazette dated May 4, 1990, and numbered 20508

Law on Misconduct

Kabahatler Kanunu, Law no. 5326 on misconducts, published in the Official Gazette dated March 31, 2005, and numbered 25772

m

Million

MASAK

Mali Suçları Araştırma Kurumu, Financial Crimes Investigation Board (“FCIB”)

MENA

Middle East and North Africa

Mining Law

Maden Kanunu, Law no. 3213 on mining, published in the Official Gazette dated June 15, 1985, and numbered 17875

Ministry of Energy

Enerji ve Tabii Kaynaklar Bakanlığı, Ministry of Energy and Natural Resources of the Republic of Türkiye

Ministry of Environment

Çevre, Şehircilik ve İklim Değişikliği Bakanlığı, Ministry of Environment, Urbanization and Climate Change of the Republic of Türkiye

Ministry of Finance

Hazine ve Maliye Bakanlığı, Ministry of Treasury and Finance of the Republic of Türkiye

Ministry of Forestry

Tarım ve Orman Bakanlığı, Ministry of Agriculture and Forestry of the Republic of Türkiye

Ministry of Health

Sağlık Bakanlığı, Ministry of Health of the Republic of Türkiye

Ministry of Industry

Sanayi ve Teknoloji Bakanlığı, Ministry of Industry and Technology of the Republic of Türkiye

Ministry of Labor

Çalışma ve Sosyal Güvenlik Bakanlığı, Ministry of Labor and Social Security of the Republic of Türkiye

Ministry of Trade

Ticaret Bakanlığı, Ministry of Trade of the Republic of Türkiye

Movable Pledge Law

Ticari İşlemlerde Taşınır Rehni Kanunu, Law no. 6750 on movable property pledge in commercial transactions, published in the Official Gazette dated October 28, 2016, and numbered 29871

MW

Megawatt

NATO

North Atlantic Treaty Organization

New York Convention

New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards

OECD

The Organization for Economic Co-operation and Development

Official Gazette

Resmî Gazete, the official gazette of Republic of Türkiye that publishes, among others, laws, regulations, decrees and international treaties. Founded by the Regulation on the Publication of the Official Gazette dated June 22, 1927

Parliament

Türkiye Büyük Millet Meclisi, Turkish Grand National Assembly

Participation Banks

Association of Türkiye

Türkiye Katılım Bankaları Birliği (“TKBB”), a professional organization, founded in 2002, established pursuant to the Banking Law that include all participation banks operating in Türkiye

Petroleum Law

Türk Petrol Kanunu, Law no. 6491 on Petroleum, published in the Official Gazette dated June 11, 2013, and numbered 28674

PPP

Public Private Partnership

Presidency

President or Office of the President of the Republic of Türkiye

Privatization Administration

Özelleştirme İdaresi Başkanlığı, the privatization administration of the Republic of Türkiye

Privatization High Council

Özelleştirme Yüksek Kurulu, the high council of the privatization administration of the Republic of Türkiye

Producer Price Index

Domestic producer price index as published by TURKSTAT

Public Disclosure Platform

Kamuyu Aydınlatma Platformu (“KAP”), public disclosure platform of the Republic of Türkiye, a system through which notifications required by the capital markets board and Borsa Istanbul regulations are publicly disclosed

Public Oversight Authority

Kamu Gözetimi, Muhasebe ve Denetim Standartları Kurumu (“KGK”), public oversight, accounting and auditing standards authority of the Republic of Türkiye

Renewable Energy Law

Yenilenebilir Enerji Kaynaklarının Elektrik Enerjisi Üretimi Amaçlı Kullanımına İlişkin Kanun, Law no. 5346 on the utilization of renewable energy resources for electricity generation, published in the Official Gazette dated May 18, 2005, and numbered 25819

Savings Deposit Insurance Fund

Tasarruf Mevduatı Sigorta Fonu (“TMSF”), the savings deposit insurance fund

Settlement and Custody Bank

Takasbank İstanbul Takas ve Saklama Bankası Anonim Şirketi, Istanbul Settlement and Custody Bank, Inc.

Supreme Court of Appeals

Yargıtay, Supreme Court of Appeals of the Republic of Türkiye

TANAP

Trans-Anatolian Natural Gas Pipeline

TEDAŞ

Türkiye Elektrik Dağıtım Anonim Şirketi, the electricity distribution company of the Republic of Türkiye

TEİAŞ

Türkiye Elektrik İletim Anonim Şirketi, the electricity transmission company of the Republic of Türkiye

TOR

Transfer of operating rights

Tourism Promotion Law

Turizmi Teşvik Kanunu, Law no. 2634 on tourism promotion, published in the Official Gazette dated March 16, 1982, and numbered 17635

TPAO

Türkiye Petrolleri Anonim Ortaklığı, the petroleum company owned by the Republic of Türkiye

Trade Registry Gazette

Ticaret Sicil Gazetesi, the Trade Registry Gazette published by the Union of Chambers and Commodity Exchanges of Türkiye

Turkish Accounting Standards and Turkish Financial Reporting Standards

Accounting and financial reporting standards as published by the Public Oversight Authority

₺ (TL)

Türk Lirası, the lawful currency of the Republic of Türkiye

Turkish Employment Agency

İŞKUR, the employment agency of the Republic of Türkiye

Turkish Patent and Trademark Office

Türk Patent ve Marka Kurumu, the patent and trademark institute of the Republic of Türkiye

Turkish Wealth Fund

Türkiye Varlık Fonu (“TVF”), the sovereign wealth fund founded in accordance with the Law no. 6741, published in the Official Gazette dated August 26, 2016, and numbered 29813

TURKSTAT

Türkiye İstatistik Kurumu (“TÜİK”), Turkish Statistical Institute as founded in accordance with the Law no. 5429, published in the Official Gazette dated November 18, 2005, and numbered 25997

UNCITRAL

Secretariat of the United Nations Commission on International Trade Law

UNCTAD

United Nations Conference on Trade and Development

US$

The lawful currency of the United States of America

US$ Cent

One hundredth of a US$

VERBİS

Veri Sorumluları Sicil Bilgi Sistemi, Data Controllers Registry Information System

Work Health and Safety Law

İş Sağlığı ve İş Güvenliği Kanunu, Law no. 6331 on workplace health and safety, published in the Official Gazette dated June 30, 2012, and numbered 28339

World Bank Group

The group of international organizations founded on December 27, 1945 following the ratification of Bretton Woods Treaty

WTO

World Trade Organization

YEKA

Yenilenebilir Enerji Kaynak Alanı, renewable energy resource areas (“RERA”)

YMEP

Yeşil Mutabakat Eylem Planı, Green Deal Action Plan (“GDAP”)