LEGISLATIVE COLLISIONS OF LEGAL REGULATION OF ADMINISTRATIVE ENFORCEMENT WITHIN ACTIVITIES OF NATIONAL BANK OF UKRAINE AND METHODS OF THEIR ELIMINATION
Journal Title: Вісник Національного Авіаційного Університету - Year 2016, Vol 68, Issue 3
Abstract
Purpose: Determining legislative conflicts and gaps related to imposing sanctions by the National Bank of Ukraine to banks as well as developing the grounded o ffers on how to eliminate the respective legal defects. Results: Comparing the aim of banking regulation assigned to the NBU and the aim of regulation in other areas of the state economy (e.g., financial, environmen tal protection and safety and etc.) allows assuming that the state has vested the NBU with a ‘superfunction’ that would be more appr opriate for the Verkhovna Rada (Parliament) of Ukraine as the single state legisl ative authority authorized to create the system of the rules of law in different areas of the social life of the country (including the banking sector). Based on the general legal doctrine, we consider that the provis ion of the Law of Ukraine on the National Bank of Ukraine stipulating the primary aim of banking regulati on, especially the development of the system of rules, should be amended by replacing the te rm ‘banking regulation’ by the cate gory ‘banking legal regulation’ in particular. Therewith, it should be defined that the latter aims at harmonizing social relations in the banking sector. We also thing that it is reasonable to – first and foremost – define the term ‘banking legal regulation’ and its meaning in the basic sectoral legislative act – the Law of Ukraine on Banks and Banking. In this article accentuated that the most controversial direc tion of banking regulation is ‘the responsibility for the violation of banking laws.’ Having analysed the effec tive laws, we can state that today the NBU covers the powers at three levels with different organization: fi rst, making a decision on b ank liquidation; second, implementing this decision (particularly by registeri ng the bank liquidation in the Unified State Registry of Legal Entities and Individual Entrepreneurs); thir d, controlling and supervising the process of the implementation of the bank liquidation decision. Furtherm ore is concluded that the legal status of the NBU in the banking sector (related to bank ing activity) has peculiarities, which – in total – consecutively define this state authority as: 1) a regulator; 2) a controlli ng and supervising body; 3) a body with judicial powers. Discussion: Comparative legal research contributed to th e conclusion that the legal model that is formulated by legislative acts and is a legal basis for the banking sector conflicts with the Constitution of Ukraine. To solve the detected legal conflic t is proposed to implement two main methods.
Authors and Affiliations
Yuriy Pyvovar, Mykola Pashynskyi
Keywords
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- EP ID EP461475
- DOI 10.18372/2306-1472.68.10927
- Views 95
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