The Ministry of Trade explained what the Law brings, article by article.
The statement made by the Ministry of Trade is as follows;
With the amendment made to the Law on Cooperatives, we authorized the Ministry of Trade to extend the deadline for completing the data deficiencies for the members who could not be registered in the Cooperative Information System for two times, one year each. We also increased the three-year period for cooperatives and their supreme organizations to adapt their articles of association to the provisions of this Law to five years and eliminated the hesitations of cooperative managers and members.
The Competition Law was amended in favor of consumer welfare and the effectiveness of the Competition Authority was increased
With the amendment made to the Competition Law, we have removed the issues that do not contribute to the investigation processes and ensured that the impact of the decisions taken by the Authority as a result of the investigation on the relevant markets is ensured without delay, and thus, the Competition Authority can achieve its raison d'être, which is to maximize consumer welfare, more effectively and quickly.
Law No. 5174 on the Union of Chambers and Commodity Exchanges of Türkiye and Chambers and Commodity Exchanges was amended with a similar approach to the capital markets legislation
With an approach similar to the capital markets legislation, we have made arrangements to ensure the fulfillment of the obligations arising from the transactions carried out in the commodity specialized exchanges and to establish a guarantee fund in order to compensate for the losses that may arise. In addition, we have ensured that the collaterals to be taken and the assets in the guarantee fund will not be misused and will be protected.
Law No. 5300 on Licensed Warehousing of Agricultural Products was amended to increase confidence in the licensed warehousing system, to develop and expand the system, and to protect the rights and interests of depositors
In order to solve the problems encountered in practice within the scope of the activities of licensed warehouses and authorized classifiers, we defined some existing actions as violations. We also increased administrative fines in order to increase deterrence and effectiveness against violations and to increase confidence in the sector.
With the Amendment No. 5957 to the Law No. 5957 on the Regulation of the Trade of Vegetables and Fruits and Other Goods with Sufficient Supply and Demand Depth, the interests of market traders were taken into consideration
We abolished the leasing procedure and introduced the allocation procedure since the sales places in the closed market area, which were acquired by other persons who were not considered as market traders, were rented to the market traders and caused an increase in costs. Thus, we protected the interests of the market traders and reduced their costs.
With the amendment to the Turkish Commercial Code No. 6102, the decision-making processes of companies were facilitated and some hesitations in practice were eliminated
We enabled the election of the chairman and deputy chairman of the board of directors in joint stock companies in accordance with the term of office of the board of directors. In addition, we enabled the board of directors to delegate the authority for the appointment and dismissal of persons other than senior executives in joint stock companies. We introduced a facilitating procedure for calling a meeting of the board of directors in joint stock companies. We also ensured compliance of joint stock and limited liability companies with the new minimum capital amounts in the legislation.
We have ensured that no judicial expenses and attorney fees can be awarded against the trade registry directorates in the reorganization and additional liquidation lawsuits filed in relation to the dissolved companies whose trade registry records were previously deleted pursuant to the provisional article 7 of the Law.
With the Amendment to Law No. 6502 on Consumer Protection, we protected the public interest and the interests of the consumer
We have reorganized the access blocking authority of the Advertisement Board in line with the Constitutional Court decision. In addition, in case of refraining from sales, companies will be sanctioned up to 10% of the total sales price of the goods or services, including all taxes, with a lower limit of TRY 2,200. Thus, we have added deterrence to the sanction amount in products with high prices such as automotive.
An administrative fine of 2,200 TL will be imposed on the basis of each violating consumer transaction instead of the lump sum penalty system on the basis of the service station regarding the deficiencies and nonconformities detected at the service stations. Thus, service stations with more deficiencies and violations will be subject to more administrative sanctions. In addition, we clarified the transitional provision regarding the prohibitions on timeshare vacation contracts in terms of their addressees and implementers.
With the amendment to Law No. 6585 on the Regulation of Retail Trade, we took more decisive steps in the fight against exorbitant prices and stockpiling
Within the scope of the fight against exorbitant prices and stockpiling, we increased the maximum administrative fine for exorbitant price increases from TRY 100,000,000 to TRY 1,000,000,000, and for stockpiling from TRY 2,000,000,000 to TRY 12,000,000,000. We also made it possible to close down the workplaces of those who engage in stockpiling for up to 6 days.
With the amendment to Law No. 7223 on Product Safety and Technical Regulations, we ensured that the image of Turkish goods is protected more effectively in foreign markets.
By amending the administrative fines imposed on exported contrary products, we introduced deterrent penalties for companies exporting unsafe products.
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