The 6-month waiting period commencing from the publication date of the third announcement made to creditors for the closure of liquidation transactions has been reduced to 3 months.

The 6-month waiting period following the third announcement to the creditors published in the Turkish Trade Registry Gazette after the commencement of the liquidation that has been being implemented since August 2016 has been amended by Article 17 of the Law on the Amendment of the Law on Establishment and Duties of Turkish Exporters Assembly and the Exporters Associations and Certain Laws. As per the regulation hereby, the waiting term in the Article 543 of Turkish Commercial Code numbered 6102 has been redefined as 3 months.

Unless a longer period is defined in the articles of association of the companies for the liquidation process contrary to the periods specified in the law and this regulation, the waiting period shall apply as 3 months for the closure of liquidation.