Covid 19 Legal Guide

The Regulation on Remote Work ("Regulation") has been published in the Official Gazette dated 10 March 2021 and numbered 31419 and entered into force on the date of its publication. e

Pursuant to the Law on the Restructuring of Certain Receivables and Amendments to Certain Laws (the “Omnibus Bill”) published on the Official Gazette dated 17 November 2020 and numbered 31307, the President Recep Tayyip Erdoğan has been authorised to extend the application period and/or the duration of short-term working allowance until 30 June 2021, whether distinctively on the basis of the sector/industry or as a whole.

The Decree on Extending the Duration Introduced with the Provisional Article 13 of the Turkish Commercial Code (the “TCC”) (the “Decree”) has been published on the Official Gazette dated 18 September 2020 and numbered 31248. The Decree has entered into force as of its publication date.

In order to prevent the effects of the Coronavirus pandemic, also known as COVID-19 (“Coronavirus”), which has spread to whole world, many precautions are being taken by governments, institutions and organizations. As a continuation of our previous articles which include the precautions and measures taken in Turkey as of March 16, 2020, we herein below mention the measures taken from the beginning of May 2020, in light of the current developments.

Presidential Decree on Extending the Suspension Period to Prevent the Loss of Legal Rights no. 2480 (the “Decree”) has been published on the Official Gazette no. 31114 and dated 30 April 2020. The Decree has been entered into force as of its publication date.

The Procedures and Principles Regarding the Implementation of Wage Support to be Performed within the Scope of the Law on Unemployment Insurance no. 4447 (the “Law No. 4447”) Provisional Article 24 (the “Procedures and Principles”) have been announced on the date of 22 April 2020, by the Social Security Institution (“SSI”) on its website.

Presidential Decree dated 29 June 2020 and numbered 2707 (the “Decree”) has been published on the Official Gazette dated 30 June 2020 and numbered 31171. The Decree has been entered into force as of publication date.

By the announcement (the “Announcement”) dated 31 March 2020 and the letter of the Union of Chambers and Commodity Exchanges of Turkey (the “UCCE”) dated 1 April 2020 and numbered 34221550-045.02-3392, the Ministry of Trade (the “MoT”) has shared an advisory declaration pointing out the cruciality of maintenance of shareholder equity in stock companies (e.g. joint stock companies, limited liability companies, limited partnerships etc.) other than state-owned enterprises due to Coronavirus (“Covid-19”), stating the necessity for restricting the distribution of profits in order to avoid capital loss and insolvency situation, which is sent to all chambers and stock markets.