UNBA does not support the draft law on abolition of the Commercial Code
The Committee of the Ukrainian National Bar Association on Commercial Law opposes the adoption by the Verkhovna Rada of Draft Law No. 6013 of 09.09.2021 «On Peculiarities of Regulation of Business Activities of Certain Types of Legal Entities and Their Associations in the Transition Period» in the proposed version.
Among other provisions, the document provides for the repeal of the Commercial Code of Ukraine.
The UNBA 's specialized committee notes that Draft Law No. 6013 lacks a proper scientific basis, does not correspond to the current trends in the development of either European or Ukrainian science, and contradicts the Constitution and a number of laws of Ukraine.
Adoption of the draft law contradicts the expectations of society and business in the sustainable and predictable development of the legal system, has no forecast of regulatory impact and consequences for the Ukrainian economy, and may cause unpredictable damage to the Ukrainian economy.
In addition, the adoption of the law in the proposed version of the draft may disrupt the stability of the court practice that has been developed by the courts of economic jurisdiction for more than 20 years.
While not denying the need to update and improve commercial (economic) legislation, the UNBA Committee on Commercial Law and Procedure advocates the preservation of the Commercial Code of Ukraine as an important codified legislative act. This fully correlates with the legal tradition of the EU member states, while the abandonment of the Commercial Code of Ukraine may be regarded by international partners as a significant change in the European integration vector and non-compliance with the terms of the EU-Ukraine Association Agreement.
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