The Kinds Of Legal Sources Of EU Company (Corporate) Law
Keywords:
legal sources of the EU law, the Treaty on establishment of the European Community, directive, regulation.Abstract
In connection with the signing of the Association Agreement between Ukraine and the European Union there is a need to adapt Ukrainian Company Law to the standards of EU Company Law standards. A lot is already done in this area. But much more should be implemented ahead.
European company law is an emerging field, which concerns the formation, operation of corporations in the European Union. According to the opinion of some authors, there is no substantive European company law as such. However, a host of minimum standards are applicable to companies throughout the European Union. The Treaty, directives and Regulations are the base of EU Company Law. They analyzed in this article.
Treaty establishing the European Union is a basic source of European Company legislation. There is a big number of EU Company Law directives. Author proposes his own classification of these directives: 1) on the base of their legal force; 2) by the groups of relations that are regulated by them.
An attention is paid to the EU regulations in the field of EU Company Law. A regulation is a legal act of the European Union that becomes immediately enforceable as law in all member states simultaneously. Regulations can be distinguished from directives which, at least in principle, need to be transposed into national law.
The author hope that the conclusions of the article will be useful for the process of harmonization of Ukrainian Company Law to the practice of the EU.
