Turkey has updated its electricity legislation relating to the calculation of guarantee amounts, reporting obligations, prohibition of share transfers, and notification obligations during share transfers. The requirement to hold data processing centres within Turkey has now also been removed.
Notable changes include:
- The pre-license guarantee amount will no longer be deducted from the guarantee required for electricity production license applications.
- License holders must now take all necessary technical and administrative measures to:
- Prevent illegal access and processing of data.
- Ensure data confidentiality, integrity and accessibility at in-house data processing centres and/or centres they receive services from.
- Data processing or storage centres are no longer required to be located in Turkey.
- The prohibition on pre-license holders changing their shareholding structure during the application process, as well as share transfers and equivalent transactions during this time, will no longer apply for:
- Share transfers between real persons who are:
- The pre-license holder’s direct or indirect shareholders, and
- Spouses or first-degree blood relatives.
- Direct or indirect changes in shareholding structures of pre-licence holders that the Saving Deposit Insurance Fund has taken control of.
- Share transfers between real persons who are:
- The Energy Market Regulatory Authority (“Authority”) must now be notified within one year of any changes to the shareholding structure, changes in control, or equivalent transactions involving foreign shareholders. A further request to amend the license should be made within six months of notifying the Authority, if necessary.
