Papers of a kind used for printing banknotes and securities
- Document symbol
- G/LIC/N/3/TUR/21
- Original language
- English
- Published on
- 08/07/2024
Outline of Systems
Q1. Give a brief description of each licensing system as a whole and, with respect to each, reply to the following questions as relevant, placing all of the material with respect to a given system in sequence together, and using cross references as appropriate when elements which have already been described are also present in another system.
The approval of the Ministry of Trade is required for the items which are classified under the HS Codes 4802.55.15.99.11, 4802.55.25.99.11, 4802.55.30.99.11, 4802.55.90.99.11 and 4802.56.80.99.11 excluding for the importation of banknotes and the like, papers of securities excluding of a kind used for printing share certificates, bonds and other instruments of capital markets and of a kind used for printing cheque books and the papers used for printing cheque book.
The approval of the Board of Capital Markets (BCM) is required for the importation of the papers used for printing share certificates, bonds and other instruments of the capital markets and the instruments of capital markets printed abroad for the purpose of sale to the public. And for the papers not included in BCM Law, applications should be made to the Ministry of Trade.
Purposes and Coverage of Licensing
Q2. Identify each licensing system maintained and state what products, appropriately grouped, are covered.
Please see Products "Papers of a kind for printing banknotes and securities"
Q3. The system applies to goods originating in and coming from which countries?
The system applies to goods imported from all countries.
Q4. Is the licensing intended to restrict the quantity or value of imports, and if not, what are its purposes? Have alternative methods of accomplishing the purposes been considered and if so which? Why have they not been adopted?
The system is intended to ensure confidence for the persons in the capital markets.
Q5. Cite the law, regulation and/or administrative order under which the licensing is maintained. Is the licensing statutorily required? Does the legislation leave designation of products to be subjected to licensing to administrative discretion? Is it possible for the government (or the executive branch) to abolish the system without legislative approval?
The procedure is mentioned in the Import Communiqué: (Import Communiqué 2024/10) published in the Official Gazette of 31 December 2023, No. 32416 bis. The Communiqué is available at the https://www.resmigazete.gov.tr/eskiler/2023/12/20231231M3-14.pdf website link. It is possible for the Government to abolish the system without legislative approval.
Procedures
Q6. For products under restriction as to the quantity or value of imports (whether applicable globally or to a limited number of countries or whether established bilaterally or unilaterally):
Q6.I. Is information published, and where, concerning allocation of quotas and formalities of filing applications for licences? If not, how is it brought to the attention of possible importers? Of governments and export promotion bodies of exporting countries and their trade representatives? Is the overall amount published? The amount allocated to goods from each country? The maximum amount allocated to each importer? How to request any exceptions or derogations from the licensing requirement?
Q6.II. How is the size of the quotas determined: on a yearly, six-monthly or quarterly basis? Are there cases where the size of quota is determined on a yearly basis but licences are issued for imports on a six-monthly or quarterly basis? In the latter case, is it necessary for importers to apply for fresh licence on a six-monthly or quarterly basis?
Q6.III. Are licences allotted for certain goods partly or only to domestic producers of like goods? What steps are taken to ensure that licences allocated are actually used for imports? Are unused allocations added to quotas for a succeeding period? Are the names of importers to whom licences have been allocated made known to governments and export promotion bodies of exporting countries upon request? If not, for what reason? (Indicate products to which replies relate.)
Q6.IV. From the time of announcing the opening of quotas, as indicated in I above, what is the period of time allowed for the submission of applications for licences?
Q6.V. What are the minimum and maximum lengths of time for processing applications?
Q6.VI. How much time remains, at a minimum, between the granting of licences and the date of opening of the period of importation?
Q6.VII. Is consideration of licence applications effected by a single administrative organ? Or must the application be passed on to other organs for visa, note or approval? If so, which? Does the importer have to approach more than one administrative organ?
Q6.VIII. If the demand for licences cannot be fully satisfied, on what basis is the allocation to applicants made? First come, first served? Past performance? Is there a maximum amount to be allocated per applicant and, if so, on what basis is it determined? What provision is made for new importers? Are applications examined simultaneously or on receipt?
Q6.IX. In the case of bilateral quotas or export restraint arrangements where export permits are issued by exporting countries, are import licences also required? If so, are licences issued automatically?
Q6.X. In cases where imports are allowed on the basis of export permits only, how is the importing country informed of the effect given by the exporting countries to the understanding between the two countries?
Q6.XI. Are there products for which licences are issued on condition that goods should be exported and not sold in the domestic market?
Q7. Where there is no quantitative limit on importation of a product or on imports from a particular country:
Q7.a. How far in advance of importation must application for a licence be made? Can licences be obtained within a shorter time-limit or for goods arriving at the port without a licence (for example, owing to inadvertency)?
It is not specifically defined regarding how far in advance of importation application for a license must be made in legislation in force.
Q7.b. Can a licence be granted immediately on request?
Yes.
Q7.c. Are there any limitations as to the period of the year during which application for licence and/or importation may be made? If so, explain.
There is no limitation. Applications for approval can be made any time during the year.
Q7.d. Is consideration of licence applications effected by a single administrative organ? Or must the application be passed on to other organs for visa, note or approval? If so, which? Does the importer have to approach more than one administrative organ?
The assessment of applications are conducted by Ministry of Trade and Board of Capital Markets (BCM).
Q8. Under what circumstances may an application for a licence be refused other than failure to meet the ordinary criteria? Are the reasons for any refusal given to the applicant? Have applicants a right of appeal in the event of refusal to issue a licence and, if so, to what bodies and under what procedures?
If the companies prefer to import more paper for printing share certificates than they need, the requests shall be rejected. This refusal shall be notified to the Company and a change in the amount of paper to be imported shall be requested. The mentioned Authorities may review the objections and reasons within the framework of the provisions of the legislation in force and re-evaluate the application.
No appeal procedures are specified in provisions of the legislation in force. However, all actions and procedures of the administration is subject to judicial remedy according to constitution.
Eligibility of Importers to Apply for Licence
Q9. Are all persons, firms and institutions eligible to apply for licences: (If not, is there a system of registration of persons or firms permitted to engage in importation? What persons or firms are eligible? Is there a registration fee? Is there a published list of authorized importers?) a) under restrictive licensing systems? b) under non-restrictive systems?
Papers used for printing banknotes and the like, papers of securities and of a kind used for printing government debt securities including papers used in the printing of securities issued by the Privatization Administration are imported only by The Central Bank of the Republic of Türkiye. Papers used for printing cheque books are imported only by banks.
Publicly held companies covered by the BCM Law and whose shares are not subjected to trade on the exchange market shall apply to the BCM for importation of the papers used for printing share certificates, bonds and other instruments of the capital markets. There is no registration fee. There is no published list of authorized importers.
Documentational and Other Requirements for Application for Licence
Q10. What information is required in applications? Submit a sample form. What documents is the importer required to supply with the application?
Required documents for the importation of papers used for printing share certificates, bonds and other instruments of the capital markets in the application are as follows:
- Petition.
- Proforma invoice (with translation) that includes the characteristics of the paper to be imported. Company’s commitment that the paper to be imported will be used by the relevant company for its own needs and do not transfer license to another company without the permission of the Board, Signature circular of Company’s representatives.
- Decision of reasoned competent body that includes distribution of stock denomination; and
- Description of the amount of papers to be imported.
Q11. What documents are required upon actual importation?
One copy of the document which comprises the approval of the Institutions is annexed to the Customs Declaration.
Q12. Is there any licensing fee or administrative charge? If so, what is the amount of the fee or charge?
No.
Q13. Is there any deposit or advance payment requirement associated with the issue of licences? If so, state the amount or rate, whether it is refundable, the period of retention and the purpose of the requirement.
No.
Conditions of Licensing
Q14. What is the period of validity of a licence? Can the validity of a licence be extended? How?
There is no time limit in the validity of a licence.
Q15. Is there any penalty for the non-utilization of a licence or a portion of a licence?
There is no penalty for non-use or partial use of a license issued by BCM.
Q16. Are licences transferable between importers? If so, are any limitations or conditions attached to such transfer?
Imported paper may be transferred with the permission of BCM.
Q17. Are any other conditions attached to the issue of a licence? a) for products subject to quantitative restriction? b) for products not subject to quantitative restriction?
No.
Other Procedural Requirements
Q18. Are there any other administrative procedures, apart from import licensing and similar administrative procedures, required prior to importation?
No.