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ARTICLE · 08 APRIL 2021

Draft Legislation On A Digitalised Auction Platform For Public Debt Enforcement In Turkey

Gen Temizer Erdogan Girgin Attorney Partnership
Gen Temizer Erdogan Girgin Attorney Partnership
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April 2021 – Draft legislation was submitted to Parliament on 2 April 2021 to provide for, among other matters, the establishment of a digitalised auction platform for the sale of properties...

TurkeyFinance and Banking
Gen Temizer
Gen Temizer
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April 2021 - Draft legislation was submitted to Parliament on 2 April 2021 to provide for, among other matters, the establishment of a digitalised auction platform for the sale of properties subject to attachment during enforcement proceedings relating to public debts. The proposed changes are envisaged to be affected through amendments to the Law on the Procedure for the Collection of Public Receivables (Law No. 6183) (the "Legislative Proposal").

Details of the Legislative Proposal

A digitalised auction platform is proposed in the Legislative Proposal for the sale of both movable and immovable property. Sales will be held on the day and at the time specified in the relevant announcement and by means of an auction process. If movable property is to be sold electronically, the sale announcement, which is not obligatory for the physical auction of movable properties, will be mandatory. The Ministry of Treasury and Finance will be authorised to provide further

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