“Understandable standard procedures are very important for business. There is the Civil Code that regulates a large number of relations, including commercial. I support that we ensure simplicity and clarity of law enforcement. Cancelation of the Commercial Code is not just convenience, its certainty of law enforcement for everyone: judges, lawyers, and business”, - stated the Minister.
He reminded that in 2003 2 acts have been adopted – Civil and Commercial Codes. The Civil Code has been a new format development. As for the Commercial Code – it has been a compromise, achieved by MPs in order to preserve many regulations from the Soviet legislation.
“Different regulation in these acts led to abuse of power in courts and the affected party had to go from court to court. Basically this Code kept Soviet relations system between the state and the people – where a person comes as a supplicant to public authorities, to courts, to officials and asks the official to do a major “favor” and fulfill its legal duty”, - emphasized the Minister.
According to the Deputy Minister of Justice Serhiy Petukhov, government regulators, who directly use the Commercial Code, emphasize that the provisions stated in the Commercial Code duplicate regulations of relevant laws and often contradict them, have terminological differences with other acts, as well as links to legislation norms, which are no longer active.
“We have interviewed our regulation authorities, who unanimously stated that the Commercial Code contains outdated regulations that duplicate sectoral legislation, haven’t been updated for 10 years, they don’t show the real situation and they prevent from doing business in Ukraine”, - stated the Deputy Minister of Justice.
At the same time, regulation authorities have provided a list of regulations of the Commercial Code that should be preserved and transferred to other legal acts.
“Those regulations of the Commercial Code that have proved their effectiveness during these 10 years are going to be transferred to other legal acts. It won’t be a simultaneous cancelation of the Code without analyzing the regulatory impact and taking into account the positive regulations, contained in the Commercial Code”, - emphasized Serhiy Petukhov.
Chairman of the arbitration court under ICC Ukraine Taras Shepel pointed out that business would welcome any steps to simplify the legislation and regulate and remove any duplication. Businessmen also positively evaluate measures to ensure more comfortable environment for existence and development of business, as well as to improve investment attractiveness of Ukraine.
“Cancelation of the Commercial Code and introduction of world terminology practice will facilitate relations and eliminate a number of disputes, resolved by courts”, - he stated.