Turkish Law of Obligations numbered 6098 has been enacted by the Grand National Assembly of Turkey on 11.01.2011. The draft law which conferred as “a fundamental law” consists 649 articles and 22 parts has been enacted in approximately two and a half hours with the consensus of all political parties in the General Assembly. Law on the Enforcement and Implementation of the Turkish Law of Obligations numbered 6101 has been enacted by The Grand National Assembly of Turkey on 12.01.2011. According to the law concerning enforcement, Law of Obligations numbered 818, dated 22/4/1926 is going to be repealed within the acceptance of the new Law on 01/07/2012.
According to the new law, landlords have the right to evict the lessee on the grounds of having his/her father, grandchild or even grandfather moving in the tenement. The increase in rent shall not be more than the last year’s producer price index. The employer will also be hold responsible for the psychological and sexual harassment of his employees which is called mobbing. The consent of the spouse will be needed for suretyship. Debtors will be protected against the extraordinary interests. Personal contracts which form obligatio will be concluded within the disclosure of the parties’ will reciprocally and consentaneously. The new Law of Obligations which brings many changes also in other areas will come into effect as of 1st of July in 2012 and its provisions will be conducted by the Council of Ministers. You may check the full text of the Law on http://www.tbmm.gov.tr/kanunlar/k6098.html
Turkish Law of Commerce numbered 6102 has also been enacted by the Grand National Assembly of Turkey on 13.01.2011. After the acceptance of the draft law which conferred as a “fundamental law”, the Law on the Enforcement and Implementation of the Law of Commerce numbered 6103 has been accepted by The Grand National Assembly of Turkey on 14.01.2011. According to the Law, Turkish Law of Commerce dated 29/06/1956 and numbered 6762 is going to be repealed on 01/07/2012.
According to the new Law of Commerce which brings many changes in regarding insurance law, liability insurance has taken a place for the first time in Turkish law system. There have been changes regarding maritime law, result in passenger’s favour when it comes to ship wreck and the possibilty of the “premature sale” of seized Turkish or foreign flagged ships. Within the Law, there have been changes regarding new corporation structures and conditions of incorporation such as the obligation brought forth for the corporations to have a web site, the right to hold the General Assembly and the Board’s meetings on electronical environment and; the right to have a board with at least one member in joint stock company. The enforcement date of the provisions regarding Turkish Accounting Standards and the articles 397 and 406 of the Law of Commerce about the audit of corporations has been determined as of 01.01.2013. Apart from that, the Law of Commerce will come into effect on 1st of July 2012. You may check the full text of the Law on http://www.tbmm.gov.tr/kanunlar/k6102.html
