Regulation on the Revolving Fund Enterprise of the Ministry of Agriculture and Forestry
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This regulation establishes the organizational structure, operating rules, revenues, expenditures, and personnel incentives for the Revolving Fund Enterprise (Döner Sermaye İşletmesi) under Turkey's Ministry of Agriculture and Forestry. It defines a wide range of permitted commercial and public-service activities including production, breeding, laboratory testing, animal hospitals, seed and vaccine manufacturing, pest control services, and sales of agricultural inputs. The enterprise is capitalized at 100 million TL, which can be increased up to 400 million TL by presidential decision. Revenues come primarily from sales of goods and services; 20% of net profit is transferred to the general budget once paid-in capital reaches the authorized limit. Detailed rules govern pricing committees, cost calculation, cash management in designated state banks, and allowable expenses including staff salaries, investment in facilities, equipment, and R&D.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Establishes capital limit of 100 million TL, increasable up to 400 million TL by presidential decision
- Requires 20% of net profit to be transferred to the general budget once paid-in capital reaches authorized limit
- Creates mandatory Price Determination Commission of at least 4 members to set unit prices based on cost and market
+ 3 more changes with Pro
Obligations
What this law requires
Transfer 20% of net profit to the general budget once paid-in capital reaches the authorized limit of 400 million TL
Maintain cash management and banking operations exclusively through designated state banks
Establish and operate pricing committees to set prices for goods and services sold by the enterprise
Conduct cost calculations for all production and service delivery activities according to established accounting procedures
Maintain accounting records and generate reports for all monetary transactions, asset custody, and financial operations