Resolution No: D-L/91
The establishment and activities as well as the operation principles and arrangement for the supervision of securities exchanges as warranted by the capital market were defined by the Council of Ministers on October 3, 1983 on the basis of powers and authority incorporated into Law No.2810 dated April 5, 1983.
The purpose of the present Decree-Law is to secure and provide for the transparent, coherent and prudent operation of the securities exchanges for the objective of transacting securities in a medium of confidence and stability and to lay the foundations for the securities exchanges to assume an effective role in the capital markets by arranging for their establishment, management, administration and operation principles and eventual supervision.
The Istanbul Stock Exchange (ISE) was construed as a public institution bearing physical entity, purposefully founded with authority to deal in the purchase and sale, determination and publicising of prices of securities within the provisions and clauses as specified in the principles outlined in the present Decree-Law. The establishment of the securities exchanges at locations deemed desirable is subject to an approval of the Finance Ministry upon the recommendation of the Capital Markets Board.
The securities exchanges are subject to the scrutiny and supervision of the Capital Markets Board.
Provisions Concerning Exchange's Operations
The rules and regulations concerning the principles applicable for admission to the exchange listing of securities that shall be subject to trading on securities exchanges shall be prepared by the Capital Markets Board and duly enacted and made effective by the Council of Ministers upon recommendation of the Finance Ministry.
Admission to exchange listing will be compulsory and mandatory, on the request of the Finance Ministry, for securities issued by the administrations with general or additional budgets, local administrations and public economic enterprises.
Admission of foreign securities to exchange listing is subject to the permission of the Finance Ministry.
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