6/24/2020
The New Law on the Protection of Competition Took Effect
The new Law brings the stipulation and reconciliation institutions from the EU legislation to the Turkish competition legislation.
The Law, Amending the Law on the Protection of Competition was published in the Official Gazette on 24 June 2020 and took effect. The new Law brings the stipulation and reconciliation institutions from the EU legislation to the Turkish competition legislation. In the Law, the "Mergers and Acquisitions" section is changed and the “Checking on considerable reduction in an effective competition”, from the European Union (EU) Law, becomes the rule instead of the previous “dominant position test”. According to the Law, it will be against the law and be forbidden that one or more enterprises will merge resulting with a considerable reduction in effective competition in any commodity or services market in the entire country or in any part of the country while establishing a dominant position or strengthening the already existing dominant position; or any enterprise or person taking over the assets or the entirety or part of partnership stakes of another enterprise including the instruments giving rights of having a say at the management except by means of inheriting. As can be remembered, the Bill has been approved by the Parliament General Assembly on 17 June 2020.
Annual Report
