Justice Ministry calls on cancelling Economic Code

The Justice Ministry calls on the cancelation of the Economic Code because its most regulations are obsolete or repeated in the industry legislation.

Justice Minister Pavlo Petrenko and Deputy Justice Minister Serhiy Petukhov said at a press conference at Ukrinform.

“Two very important documents were approved in 2003. If the Civil Code is the document of a new, European law, then the Economic Code envisages a lot of things of the Soviet legislation,” the minister noted.

According to Petrenko, the repetition of regulations of other legislative documents in the Economic Code led to the fact that it is difficult to determine now which court, economic, administrative or a local one is in charge of considering a law suit.

Petukhov, in turn, added that the state regulators unanimously support the cancelation of the Economic Code, as it includes obsolete legislation.

“The Code has not been improved over the past 10 years and it doesn’t reflect the state of affairs, the document prevents doing business in Ukraine,” he said.


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