Machinery Chemical Industry Officially Becomes a Joint Stock Company

The Law on Machinery and Chemical Industry Joint Stock Company was published in the Official Gazette on July 3, 2021 and entered into force.

Regarding the purpose and scope in Article I of the Law on the Machinery and Chemical Industry Joint Stock Company, “The purpose of this Law is to regulate the establishment, management, supervision, duties, powers and responsibilities of the Machinery and Chemical Industry Joint Stock Company. This Law covers the procedures and principles regarding the establishment, management, audit, duties, powers and responsibilities of the Machinery and Chemical Industry Joint Stock Company.”It is called.

IV. In the article, MKE A.Ş.Duty and Authorityare stated as follows:

(1) In line with the national security objectives of the company, all kinds of weapons, ammunition, explosives and chemicals, petrochemical and other chemical products, machinery, equipment, materials, raw materials, tools, devices, systems and platforms for military and civil purposes are domestic and international. to produce or have it produced, to market and trade, to carry out representative activities, to carry out research and development, product development and engineering activities, modernization, design, testing, assembly, integration and after-sales service, to develop generic and innovative technologies locally and nationally. establishing a thematic research center/laboratory, private industrial zone or educational institutions; may engage in project engineering, consultancy, technology transfer, training services, energy, recycling, contracting, logistics support, ammunition separation and sorting activities and other activities specified in the articles of association for all kinds of institutions, organizations and consumers.

(2) The company may use raw materials, materials, tools, devices, equipment, spare parts, systems, subsystems and the like in the inventory of the Ministry, provided that they return the same or pay their fair value in order to fulfill the commitments they have made more effectively. Buildings, factories, workshops, workshops, workplaces and similar immovables, land, platforms, weapons, ammunition, equipment, systems and subsystems, infrastructure and test centers in the inventory of the Ministry can be used free of charge with the approval of the Minister.

(3) In order to carry out the activities specified in the first paragraph, establishing companies in the country and abroad, purchasing established companies, It has the authority to participate in or operate these companies, to open branches/representation offices at home and abroad when necessary, and to expropriate by the President's decision for investment projects involving national security and national development. Establishing companies abroad, purchasing established companies and participating in these companies are carried out by the decision of the General Assembly, taking the opinion of the Ministry of Treasury and Finance.

(4) All kinds of air, sea, and sea vehicles that have been left in Turkey by foreign countries as per bilateral or multilateral agreements, public administrations, state economic enterprises and subsidiaries whose capital is at least 17 percent owned by the public, are out of use or out of use or have lost their quality. and land vehicles, machinery and equipment, hazardous or non-hazardous metal/metal compound waste, non-metallic (non-domestic) goods and materials of economic value; may purchase or take over at unit prices determined by the Ministry of Industry and Technology, to use as raw materials in the production of materials required to carry out the activities specified in the first paragraph and to use them in the market when necessary. The provisions of the Law No. 12, dated 1937/3284/XNUMX on the Prohibition of Exporting and Purchasing Some Mine Scraps shall apply to the matters related to this paragraph.

For the complete Law on the Machinery and Chemical Industry Joint Stock Company Click here.

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