Newsletter On Period of Check Presentation
Amendments have been made to Law on Amending Certain Laws (“Law”) with Law on Amending the Laws on Insurance and Certain Other Fields and a Statutory Decree (“Amending Law”) published in the Official Gazette dated May 25, 2021 and numbered 31491. There is a change in the provisional Article 3 of the Law, which aims to prevent loss of rights within the scope of the Covid-19 pandemic, regarding the representaion of checks.
Within the scope of the relevant amendment, presentation period for checks whose last day of presentation period is between March 30, 2021 and May 31, 2021 (including these dates) or whose presentation period begins between these dates, stops until May 31, 2021 (including this date). Payment is made if these checks are fully paid for and presented within the specified dates. If the check does not have a provision or is partially found, the bounced transaction is not performed. Checks that are not presented between the specified dates or that are not bounced despite being presented can be presented after June 1, 2021, within the remaining presentation periods.
The relevant persons do not have legal, administrative, financial and penal liability due to the presentation, payment and other transactions made for the said checks before the date of 25 May 2021, the date Amending Law entered into force.