EMRA Introduced New Amendments On Procedures And Principles To Be Applied To Auditing, Preliminary Survey And Investigation Of Companies That Operate In Electrıcity Market
September 4, 2014
EMRA (Energy Market Regulatory Authority in Turkey) has made certain amendments on the auditing principles of the companies operating in electricity market with “Regulation on Amendments on Procedures and Principles to be Applied to Auditing, Preliminary Survey and Investigation of Companies That Operate in Electricity Market” (Regulation), came into force with Official Gazette numbered 29104, dated 30.08.2014. According to the most important reform introduced with this Regulation; certain investigations regarding the activities of electricity companies which are contrary to related legislation shall be started with a defense statement.
A Penalty Cannot Be Given Without a Defense
According to Article 23 of the Regulation; the legal person who is determined to be acting contrary to legislations will be given minimum 15 days for their written defenses before starting an investigation in case the illegal acts of the legal person does not require preliminary survey and investigation report to be prepared by the Board. The written defense to be submitted in due of time by the related legal person shall be submitted to Presidency with the views of Head of Department and shall be observed in the agenda of the Board primarily.
In case the Board determines that the acts are contrary to the regulations despite the written defense, the legal person shall be sentenced to sanctions and penalties regulated in Article 16 of Electricity Market Law numbered 6446.
In case the sanction imposed by the Board is to give warning in order to abolish the breach of the terms of legislation by giving time, Head of Department shall determine whether the breach is abolished within the time given after the warning and shall notify Presidency. This matter shall be on the agenda of the Board primarily. In case the breach is not abolished within the given time, then the legal person will be sentenced to sanctions and penalties regulated in the Law.
HAVE A SAY
The new regulation that brings forth the process of written defence of legal person is an important development for the legal persons taking role in electricty market, whereas the old regulation let Head of Department to start an investigation directly or after a preliminary survey with assignment from the President. The same terms are regulated with seperate Regulations for companies performing in Natural Gas, Petroleum and Liqufied Petroleum Gas by EMRA.
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