Objectives of Competition Law and Competition Board

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Competition rules,

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• Preventing agreements, agreements or similar actions that may adversely affect competition between companies,

• Preventing mergers, acquisitions or joint ventures that may adversely affect competition,

• To prevent possible decisions/actions of a company that may cause it to act alone in a particular market

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It is based on the main objectives that we can count as.

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In Turkish law, the subject of competition is regulated in the Law No. 4054 on the Protection of Competition. The Law established the Competition Authority to ensure the continuation and development of goods and services markets in a free and healthy competitive environment and to oversee the implementation of the Law. For this purpose, the institution makes the necessary savings to spread the competition culture and environment, and to create the decisions and actions of the public within the framework of competitive understanding. Conducts the necessary research to develop or protect the economics and policies of competition. It creates, develops and contributes to new competition policies.

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Importance of Competition Law for Companies

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First of all, the rules of competition law should be taken into account in the correct evaluation of the legal consequences of the activities of the companies.

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In some cases, it may be the case that transactions or actions that appear to be in full compliance with the law within the scope of the Turkish Commercial Code and the Code of Obligations or within the framework of general principles of law such as freedom of contract may be unlawful within the framework of competition law. In such a case, agreements or actions that violate the competition rules may be banned or terminated by the competition institutions of the relevant countries. As a result of this, the activities of the relevant company are prevented from functioning as planned, because in such cases, the agreements and actions in question may be deemed null and void with retrospective effect.

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In addition, very high fines may be imposed on such commercial activities in violation of the Competition rules.

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Competition rules have an extremely important place in the daily business activities of companies. Therefore, in order to be able to intervene correctly in possible problems that may arise in commercial relations, that company should know the competition rules very well and act accordingly in its relations with its competitors, customers and suppliers.

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Competition Review Process in Turkey

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The procedure followed in competition investigations in Turkey is as follows:

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• Preliminary investigation phase: The Board decides to initiate a direct investigation or to conduct a preliminary investigation to determine whether it is necessary to open an investigation, ex officio or upon the applications received by it.

• Notification to applicants

• investigation phase

• Gathering evidence and informing the parties

• decision phase

• Application of the parties to judicial remedy against the decisions of the Board