Features of corporate law sources of Ukraine

Abstract

The article examines the main Features of corporate law sources of Ukraine. Special attention is paid to the process of adapting Ukrainian corporate legislation to EU law. It is concluded that main corporate Directives are already adopted by the Ukrainian legislation. Also it is stressed that some major European rules are not applied in such institutions as European Union competition law and Reporting Standards. Notwithstanding this articles are not strictly corporate laws, such rules as Mergers and Acquisitions play an important role in goodstanding corporate environment.

Given the German and French experience in building major sources of corporate law, we consider the duplication rate of joint stock companies and limited liability companies in the Civil Code of Ukraine. It was concluded that Ukrainian corporate law sources have main features: 1) the basic concepts of corporate law are represented in the Civil Code, Economic Code, Laws of Ukraine On Business Associations and On Joint Stock Companies; 2) the importance of statute regulations; 3) through the gaps in the legislation for the judicial system play an important role acts of the Supreme Economic Court and the Supreme Court of Ukraine; 4) the special role of corporate governance code of conduct and rules of stock exchanges; 5) the adaptation of corporate legislation of Ukraine to the EU requirements are partially fulfilled but many questions that need are left; 6) significant influence of the subordinate legislation on the legal status of joint stock companies, large limited liability of the companies and government corporations.