The Turkish Grand National Assembly Warning: You Are Viewing The Law, Parliamentary General Assembly Accepted. If It Does Not Contain Any Changes That Are Made Later. Banking Law Amending Law

Original Language Title: TÜRKİYE BÜYÜK MİLLET MECLİSİ Uyarı: Görüntülemekte olduğunuz Kanun, TBMM Genel Kurulunda kabul edildiği halidir. Varsa daha sonra yapılan değişiklikleri içermemektedir. BANKACILIK KANUNUNDA DEĞİŞİKLİK YAPILMASINA DAİR KANUN

Read the untranslated law here: https://www.tbmm.gov.tr/kanunlar/k5472.html

Law No. 5472: Mar article 1-19/10/2005 and the Banking Act No. 5411;
a) 1 article has been changed as follows.
"Article 13-corporate governance provisions contained in this law with protective provisions will be determined by the Board, considering the principles be complied with and provided that the notification of the institution is free to open branches in the country." the fourth paragraph of article 93 b) the first sentence has been changed as follows.
"This law and other related Institutions, within the framework of the legislation, the powers given to him by the Board will be special regulatory processes or to be qualified facilities decisions uses with." the fifth paragraph of article 106 c), "before" to the creditor all privileged to come after ", but the State and the social security agencies on the assumption that under law No. 6183 then" phrase has been added.
the fourth paragraph of article 107 d) located in the last sentence before the "privileged creditor" after all is to come ", but the State and the social security agencies on the assumption that under law No. 6183 then" phrase has been added.
e) 129 Uribe item has been changed as follows.
"Article 129-Fund costs, to be borne with the proceeds Funding is essential. The Fund's budget year is the calendar year.
Fund, the principles and procedures referred to in this law is allocated resources to it within the framework of the duties and powers imposed by extent, freely.
The Fund is a part of the principles and procedures used with this given Fund Law principles and procedures related to the use of other Funds to be issued by the regulation. Fund expenses are met when the Funding source.
The Fund's expenses, the decision of the Fund Board, which entered into force, strategic plans and performance goals with corporate, functional and economic classification is according to the annual budget prepared according to the system. "following the eighth paragraph of article 134 f) that have been modified and the item has been added to the following joke to come after this paragraph.
"Entities that are owned by natural and legal persons, the provisions contained in this article within the framework of the commercial and economic integrity the provisions contained in this law as part of, or separate within the framework of compulsory execution are obtained through sales from the price; sales must be accrued up to the date, in the case of a decision by the Board of the Fund, respectively the technical information of the company, software, hardware, equipment, goods and services arising from past debts, and social security organizations to the Government of the people is with the debts covered by law No. 6183 GSM concession arising from the contract of Treasury share the part after the document, contact the debts of other public institutions and organizations from the upper Board with debts to be paid by garame taksim. According to this provision, must remain in balance after debt distribution; license, license, franchise agreement, the temporary transfer of rights to use frequencies and channel, and so on, and the new receiver is required for the operation of and by public institutions and organizations for the parent assembly must be done with such transfer does not impede the process of registration and transportation. "
"This law repealed the provisions of article 15 of Act No. 4389 Banks (7) clause is under this article with companies with capital of more than 50% of the Fund's shares, which represents Fund companies owned by the Bank or Fund subsidiaries, Board of directors by the principles set by the Fund to the creditor and the borrower will be held within the framework of organized following the proclamation by a decision of the Board of the Fund on the basis of the balance sheet of the bankruptcy and Insolvency Act Without liquidation, subject to the provisions of Turkish commercial code. Decision of the Board of the company's Funds for the Corporation's of pauperization means end ipso facto where, upon written notification of the fund companies other than processing the relevant register without cancellation. The decision to liquidate will be opened by the related lawsuits against the Fund are located in the central administrative court. The decision to liquidate the Fund Board companies went bankrupt and the substance cannot be requested. As a result of the recorded receivables Funds proclaimed is made by this Act, law No. 6183 and bankruptcy and insolvency, will be held in accordance with the provisions of article 206 the ruler with the liquidation decision given the time of the company's creditors. Liquidation in accordance with the provisions of this article, owned companies honor partners and managers against third parties with personal responsibility, bankruptcy and credit litigation legal successor; in his capacity as a lawful criminal cases involved Funds by maintained. As a result of this case, no other processing in case of any collection without the need for the charged amount is distributed in accordance with the sequence edited ruler. The creditors didn't get the deployment would take a completely after claims has been liquidated and the company will be deployed in the event of liquidation balance is given a document that doesn't have. Bankruptcy and Insolvency Act this document article 105 terms and results. Lenders will be held in accordance with the order ruler post-deployment liquidation balance if this balance is paid at the rate of the company's shares to its shareholders. Tasfiyenin principles and guidelines determined by the regulation to be issued by the Board of the Fund. ") located in the last sentence in article 136" than the cost of any rights and claims, "after the phrase" the State and the social security institutions to come to 6183 on the assumption that under the law then is about to arrive, "the phrase has been added.
Article 2-the following Act No. 5411 provisional article.
"TRANSITIONAL ARTICLE 24-to the authorities by the Bank subject to deposit insurance funds with the amount declared by the deposit amount due to a difference between the date of publication of this article, before the proceedings started by the people and Funds of banks (including the bankruptcy decision has been issued), for his debts to fund according to the provisions of this law, foreclosure proceeds from the sale of their assets through the price, 134 of this Act shall be made in accordance with the eighth paragraph of article after the distribution of Funds from the share part garame based on the above reason Funds by rights of the people and the Government of the Bank started proceedings and the social security institutions payable under law No. 6183 debt is collected in an account. The Bank and the State of the person under this article and the social security agencies covered by law No. 6183 debt will take the remaining amount after payment Funds shall be deducted. This article, made before the effective date of the item for sale.
TRANSITIONAL ARTICLE 25-the effective date of this article, by Proclamation issued funds before the sale took place but was tender price of creditors resulting in the distribution of sales and 31/12/2006 will be proclaimed until sales are held in the scope of delivery, 3065 numbered value added tax Act, article 17 (4) in accordance with the exception to paragraph (m) to be applied to the part of this article is the law No. 5411 calculating, the effective date should be the amounts transferred to fund in accordance with the provisions of earlier. "
Article 3-this law comes into force the date of promulgation.
Article 4-the provisions of this law, the Council of Ministers.