The Cancellation of the Stock Market Professional Activity License: Enforcement Issues
Journal Title: Адміністративне право і процес - Year 2016, Vol 2, Issue
Abstract
The article is devoted to the grounds and features of the cancellation of the stock market professional activity license sanction use. The cancellation of license involve the termination of the stock market professional activity right. Based on the Part 1 of the Article 238 of the Commercial Code of Ukraine, it was concluded that the economic offenses are the basis for applying such sanctions. This is a violation of the stock market economic activity legislation rules. The goal is to stop the violation and to eliminate its consequences. A new type of the administrative sanctions is proposed to implement. This is the forced sale of the share in the authorized capital / the share of the professionalstock market participant through the electronic trading or on the Stock Exchange. Such sale is carried out by the auction with the transfer of the received funds to the sold share owner. The grounds of such penalties application are established by law. The procedures such as the license withdrawal, the termination of the license and the license invalidity are highlighted. The withdrawal of the license is defined as an administrative way of influence which entails the termination of the licensee right to engage in the stock market specific professional activities by the National Commission on Securities and Stock Market of Ukraine decision. The grounds for the license withdrawal are defined. The termination of the license and the license invalidity include the document (license) deprivation void. They are not the administrative and economic sanctions. By reason of the license termination are referred its loss or damage, or renewal, or not renewal in the law term established, the abolition of the business type licensing. The non-payment of the license fee within the term defined by the law, the issuance of the license with violation of the law, including if there were grounds for denial of the license are defined the grounds of the invalidity of the license under the Article 27-2 of the Law of Ukraine «On the Securities and the Stock Mar ket». The grounds of the license withdrawal, the termination of the license and the license invalidity are offered to determine in the Article 11 of the Law of Ukraine «On the State Regulation of the Securities».
Authors and Affiliations
О. V. Kologoida
Keywords
Related Articles
- EP ID EP439720
- DOI -
- Views 91
- Downloads 0
Representation in administrative process: from resolve ofтcontradictions to new institutions of administrative law
The adoption of the Code of Administrative Procedure of Ukraine has become a landmark event in the Ukrainian legal science. Said regulatory document introduced new standards of interaction of government agencies with nat...
Inter-branch functions of administrative law: nature and conditions of realization
The analysis of modern branch legal scientific sources argues for actualization of theresearches related to the necessity of revision and forming the new conceptual approach to clarification of social role and assignment...
CRIMEA – THE NEW CHALLENGE FOR FREEDOM OF RELIGION
The paper deals with analysis of modern statement of the freedom of religion and religious organizations existence in occupied Crimea. The key issue of the paper is to highlight main differences in Ukrainian and Russian...
The foreign experience of military police and preconditions of its implementation in Ukraine
The foreign experience of creation and acting of the military police, its objectives, functions and powers in the leading countries of the world are considered. The necessity and conditions of implementation and effectiv...
Comparative analysis of legal regulation of the procedure on choosing the private partner in the conditions of state-private partnership
In the article the features of legal regulation of Public Private Partnership in the EU by the example of Poland. The comparative analysis of procedures for select- ing the private partner and the transfer of the object...