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NewsTHE NOTICE ON APPLICABLE INTERESTS RATES ON REDISCOUNTS AND ADVANCES HAVE BEEN PUBLISHED.

May 1, 20090

The Notice on applicable interests rates on rediscounts and advances published in the Official Gazette dated 9th of April 2009 and numbered 27195 and became effective from the publication date.

Central Bank of Turkey has determined the annual rediscounts interest rate as 19 % and it will applicable to the bills which will arrive at maturity within maximum 3 months and subjected to rediscounts transactions. The annual advances rates have also been determined as 20%. These rates entered into force.

PCT AND EPO HAVE UPDATED THE SEARCH FEES

The Patent Cooperation Treaty (PCT) and European Patent Office (EPO) have updated the search fee as 2525 CHF from the 1st of March 2009 and the table where the EPO search fee is mentioned is available at www.tpo.gov.tr/portal/default2.jsp?sayfa=160.

THE NOTICE ON REGISTRATION OF A COMMERCIAL UNDERTAKING TO THE TRADE REGISTRY HAVE BEEN PUBLISHED WHICH IS OPERATED BY INCORPORATED COMPANIES IN FORM OF AN UNINCORPORATED COMPANY.

The Notice on registration of a commercial undertaking having partnership structure to the Trade Registry which is operated by incorporated companies in form of an unincorporated company was published in the Official Gazette dated by the 1st of April 2009 and numbered 27187 and entered into force. The Notice regulates the procedure and principles of registration of a commercial undertaking which is operated by an unincorporated partnership which was established by two or more legally and economically independent incorporated companies and is jointly managed by them in order to realize a particular target and gain profit.

A commercial undertaking that is operated by unincorporated partnerships may be registered to the Trade Registry upon request which was established and is jointly managed by incorporated companies in order to realize a particular target and gain benefit. Therefore, in order to the commercial undertaking which is operated by unincorporated partnerships to be registered to the Trade Registry the articles must be in written and certified by a public notary. The said articles should content these points: the commercial title of the parties, address of the head office, authorized persons, precisely stating the fact that Partnership was established in order to operate a commercial undertaking; and the title of the commercial undertaking, its address, targets and subject matter, its duration if it is established for a certain time, representatives of the commercial undertaking that subjected to the partnership, determination of leader and other provisions deemed to be necessary by partners.

The registration of the commercial undertaking which is operated by unincorporated partnerships should be registered to the trade registry office which taken place at its address and announced in Turkish Trade Registry Gazette. Besides that, this fact is also should be notified to trade registry offices where partner companies were registered by the trade registry office at the same day.

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