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11 June 2008 - New Law is voted and approved by the Turkish Parliament this afternoon.

The draft law is voted and approved by the parliament this afternoon.

The new law will now be submitted to the President for ratification and according to the Turkish Constitution, the President will ratify it within fifteen days - provided that he does not use his authority to veto the law. We do not expect at all the veto would be the case under current circumstances.

The last phase for the adoption of the new law would be its publication in the Official Gazette shortly after the approval of the president. The Ministry of Public Works and Settlement is expected to publish a new circular letter after the law is published in the official gazette in order to enable the execution of the law.

We will keep you updated with the latest news.

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