280 NEWSLETTER 2021 Following the approval obtained from the EMRA for the execution of the transaction, the relevant transaction is carried out and, finally, an application of “a new license as a continuation of the former license”, is made. The term in question is very important as it should not be mistaken that “new licenses” are given to companies taken over by license holder legal persons. As a matter of fact, both application types are independent from each other: The documents and information to be submitted within the scope of the application differ. As it may be understood, a separate application process must be performed by the legal persons that have taken over the new license as a continuation of the former license. In accordance with the “Procedures and Principles Regarding Applications Regarding Pre-License and License Transactions”, which was approved by the EMRA, a new license application as a continuation of the former license is made via the EMRA Application System, electronically, by the electronic application authority. In order for a legal person to apply through the EMRA Application System, it is necessary to have at least one electronic application authority. In order for the legal person authorized to be defined as the electronic application authority, the EMRA must be notified in writing through a petition. It is not possible for legal persons to continue the application process without performing the authorized assignment process. After the appointment of the application authority, explanations regarding the information and documents to be submitted in the license applications within this scope are included in Article 11 of the “Explanations” section of “Annex-4: List of Information and Documents to be Submitted in the License Application”. Application petition of license, authorization certificate, articles of association, documents showing the partnership structure, control statemen / certificate, documents showing the current capital amount of the legal person, the document showing that the license fee has been deposited in the EMRA account, and the declaration of non-ban are among the documents that must be submitted to the EMRA at the time of application.
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