Regarding certain problematic issues of the possible Economic Code of Ukraine cancellation

Authors

DOI:

https://doi.org/10.58423/2786-6742/2022-2-88-96

Keywords:

Commercial Code, abolition of the Commercial Code, economic relations, martial law economy

Abstract

The Draft Law “On peculiarities of regulation of entrepreneurial activity of certain types of legal entities and their associations in the transition period” was registered in the Verkhovna Rada. The purpose of its adoption, as indicated by the drafters of the bill, among other things, is to eliminate contradictions between the Commercial and Civil Codes of Ukraine, as well as to increase the investment attractiveness of the state through a new approach to the regulation of entrepreneurial activity of certain types of legal entities.

The explanatory note to the draft law proclaims high goals, such as the implementation of the best practices of corporate governance in the legislation of Ukraine, in particular, in terms of defining the duties of officials, effective market mechanisms of control over the ownership and management of state and municipal property by newly formed companies and institutions.

However, despite the fact that some of the rules proposed by the lawmakers can significantly improve the legislative regulation of entrepreneurship in Ukraine, the section “Final and Transitional Provisions” is quite controversial, in our opinion. The abovementioned draft law amends the Civil Code of Ukraine and, most importantly, proposes to recognize the Commercial Code of Ukraine as invalid.

The article analyzes the developments of leading Ukrainian scientists and legal practitioners on the possible abolition of the Commercial Code, investigates the risks of such a step of the legislator during martial law and after its completion, gives relevant conclusions and recommendations for improving the Commercial Code by making specific amendments to it. In particular, it is proposed to revise the Commercial Code of Ukraine, removing all the norms that are duplicated in the Civil Code of Ukraine and other laws, blanket and outdated norms. It is necessary to define clearly the legal relations to which the norms of the Commercial Code of Ukraine, and not the Civil Code of Ukraine, apply, and to develop rules of conduct regulated by the norms of the Commercial Code that are specific to enterprises.

Author Biography

Andrii Motsa, Ferenc Rakoczi II Transcarpathian Hungarian College of Higher Education (FR II THCHE)

candidate of legal sciences, associate professor

References

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Published

2022-12-22

Issue

Section

National and regional economy