A short statute of three articles forms the backbone of Anadolu Agency's status.

The Identity of the Law

DetailValue
NameLaw on the Property and Staff of Anadolu Agency
Law number57
Date of adoption12/8/1960
Official Gazette19/8/1960 - No. 10582

Article 1 - Property as State Property

The property of Anadolu Agency counts as State property. Those who commit offences against that property are prosecuted under the general provisions.

Article 2 - Staff as Officials Under the Penal Code

The staff of Anadolu Agency are treated as officials in applying the Turkish Penal Code.

Article 3 - The Law No. 788 Exemption

The provision of Art. 8 of Law No. 788 cannot be applied to officials to be appointed to board memberships and other duties at Anadolu Agency.

Additional Article 1 - The Share Regime (2014)

Additional Art. 1, added by Art. 4 of Law No. 6518 of 6/2/2014, brings a detailed arrangement on the company structure.

  • Acquiring its own shares - it may acquire them directly or indirectly, for consideration or without, or accept them as a pledge, without being subject to the ratio limitation in Art. 379/1 of Commercial Code No. 6102.
  • The condition in Art. 379/3 of the Commercial Code is not sought on acquisition.
  • Capital increase - the Agency may participate; the Board may decide that unused pre-emption rights may be used by the Agency itself.
  • The Treasury's usufruct right - the Treasury holds a usufruct right over the shares acquired, entered in the share register and registered within one month of acquisition.
  • On winding up - if the company is wound up for any reason, the ownership rights attached to those shares pass to the Treasury.
  • Sale - the public offering or other sale of the acquired shares is carried out within the framework of Privatisation Law No. 4046.
  • Arts. 384 and 385 of Law No. 6102 do not apply to shares acquired or taken as a pledge.

Statutes That Do Not Apply

Additional Art. 1 also lists the instruments that do not apply to the Agency: among them Decree-Law No. 233 on State Economic Enterprises, Decree-Law No. 399, Civil Servants Law No. 657, Decree-Law No. 190 on General Staffing and Procedure, Travel Allowance Law No. 6245, Court of Accounts Law No. 6085, Law No. 3346 and Public Procurement Law No. 4734.

Its Relationship with Law No. 7

Law No. 57 governs property and staff; Law No. 7 of 1/7/1960 governs the company law side and exempts the Agency from the adaptation provisions of the Commercial Code on joint stock companies and from its Art. 272. We cover it in the Commercial Code exemption guide.

Summary

  • Law No. 57 treats the Agency's property as State property and its staff as officials in applying the Penal Code.
  • Additional Art. 1, added in 2014, allows the Agency to acquire its own shares and gives the Treasury a usufruct right over them.
  • A series of public personnel, audit and procurement statutes do not apply to the Agency.