The repeal of Chapter 35 (Special Legal Regulation of Financial Activities) of the Commercial Code of Ukraine had set back the systematization of legislation on financial institutions and services, which has been for decades in the focus of both economic law experts and financial law experts. Ukrainian jurisprudence related to macroeconomic studies just as well as the Central European academia and legislatures during 2010–2020 have progressed on the fertile ground of a common approach to the public and private finances: traditional tax, customs and budget legislation should have the same paradigm as the financial market infrastructure, financial service providers, corporate and household investors, borrowers and depositors. Despite the single scope and method for the legal field, the pragmatic views on codification are dichotomized – more compact codificationsand incorporations of singular areas are preferred over a comprehensive Financial Code, which, however, remains a long-term ideal.

In view of the above, an objective was to apply dogmatic method to the section-by-section concordance analysis between a repealed Chapter 35 of the Commercial Code of Ukraine and an array of statutory provisions that will remain in effect instead of the Chapter. We sought to analyze, based on the results of the concordance review, a degree of loss of the rules, norms and provisions in the statutory laws of Ukraine, and assess the consequences (negative or positive) of repealing the Code. Finally, to consolidate that array, as a secondary objective for the convenience of professional application and continuity in the systematization effort and to introduce, as a professional initiative, good EU legislative practices that publish the correspondence table showing movement of the norms across the legislation, in case a comprehensive act is being a recast (restated) or replaced.

Accordingly, we compiled a correlation table of Chapter 35 provisions and the effective statutory laws on the financial services markets; the analysis of the table identifies a few provisions that were not incorporated into the incumbent legislation, most of those lost rules had value. Some of the lost rules had a system-forming effect on the field: conflict of laws rules, incorporations through references of the principal acts applicable to relevant legislative sub-fields (e.g. insurance, credit, account settlement). Some of the lost rules had been reducing imbalance of economic power in the relationship (e.g., bank v. customer), yet other lost rules increased the legal certainty for financial and ancillary services providers. A fistful of analytical conclusions drawn refute the optimist predictions made by authors of the Civil Law Recodification Concept who initiated repealing the Commercial Code of Ukraine. The illustrations are, inter alia: world`s financial law instruments for macroeconomic policies during the Muscovy aggression against Ukraine as well as during the pandemic (2019–2022); the statutory framework required for Ukrainian governmental intervention in the macroeconomics during the aggression by Muscovy, stark examples of Verkhovna Rada’ low self-discipline in complying with its own legislating rules.

We propose to use the correspondence table as a template for other private incorporations of commercial laws with respect to other parts of the former Commercial Code of Ukraine, especially the part that regulates specific types of commercial relations. We also put forward a program for the consolidation and codification of economic legislation norms by sub-fields /sub-sectors of the commercial activities.

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