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ECONOMIC CODE OF UKRAINE

of January 16, 2003 No. 436-IV

(The last edition from 01-07-2014)

The economic code of Ukraine establishes the legal basis of economic activity (managing) which is based on variety of subjects of managing of different patterns of ownership according to the Constitution of Ukraine.

The economic code of Ukraine aims to provide increase of business activity of subjects of managing, development of entrepreneurship and on this basis increase in efficiency of social production, its social orientation according to requirements of the Constitution of Ukraine, to approve public economic order in economic system of Ukraine, to promote its harmonization with other economic systems.

Section I Basic principles of economic activity

Chapter 1 General provisions

Article 1. Regulation subject

1. This Code determines the basic principles of managing in Ukraine and governs the economic relations arising in the course of the organization and implementation of economic activity between subjects of managing and also between these subjects and other participants of the relations in the sphere of managing.

Article 2. Participants of the relations in the sphere of managing

1. Participants of the relations in the sphere of managing are the subjects of managing, consumers, public authorities and local government bodies allocated with economic competence and also citizens, public and other organizations which act as founders of subjects of managing or perform concerning them organizational and economic powers on the basis of the property relations.

Article 3. Economic activity and economic relations

1. Economic activity in this Code is understood as the activities of subjects of managing in the sphere of social production directed to production and sales of products, performance of works or rendering the services of cost nature having price definiteness.

2. The economic activity performed for achievement of economic and social results and for the purpose of profit earning is entrepreneurship, and subjects of entrepreneurship - entrepreneurs. Economic activity can be performed also without the profit earning purpose (non-commercial economic activity).

3. The activities of not business entities directed to creation and maintenance of necessary material conditions of their functioning which are performed with participation or without participation of subjects of managing are economic ensuring activities of not business entities.

4. The sphere of the economic relations is constituted by the economic and production, organizational and economic and intraeconomic relations.

5. The property and other relations arising between subjects of managing in case of direct implementation of economic activity are economic and production.

6. The organizational and economic relations in this Code are understood as the relations developing between subjects of managing and subjects of organizational and economic powers in process of management of economic activity.

7. The relations developing between structural divisions of the subject of managing, and the relation of the subject of managing with its structural divisions are intraeconomic.

Article 4. Differentiation of the relations in the sphere of managing with other types of the relations

1. Are not subject of regulation of this Code:

the property and personal non-property relations regulated by the Civil code of Ukraine;

the land, mountain, forest and water relations, the relations on use and protection of plant and animal life, the territories and objects of natural and reserved fund, atmospheric air;

employment relationships;

the financial relations with the assistance of subjects of managing arising in the course of forming and budget performance monitoring of all levels;

administrative and other relations of management with the participation of subjects of managing in which public authority or local self-government is not the subject allocated with economic competence and directly does not perform organizational and economic powers concerning the subject of managing;

The relations with participation of subjects of managing arising in the course of fulfillment of requirements of the legislation governing the relations in the sphere of prevention and counteraction of legalization (washing) of income gained in the criminal way, to financing of terrorism and financing of distribution of weapons of mass destruction.

2. Features of regulation of the property relations of subjects of managing are determined by this Code.

3. Rules of this Code are applied to the economic relations arising from merchant shipping and which are not settled by the Maritime Code of Ukraine.

Article 5. The constitutional bases of law and order in the sphere of managing

1. The legal economic order in Ukraine is created on the basis of optimum combination of market self-regulation of the economic relations of subjects of managing and state regulation of macroeconomic processes, proceeding from the constitutional requirement of responsibility of the state to the person for the activities and determinations of Ukraine as sovereign and independent, democratic, social, constitutional state.

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