State guarantees on a portfolio basis: legal principles

Abstract

Introduction. A new mechanism has been introduced in Ukraine, which, on the one hand, provides for the attraction of funds to the state budget of Ukraine, and on the other hand, the support of business entities – the provision of state guarantees on a portfolio basis.

Problem. There is a combination of public-law and private-law regulation in the social relations of the provision of DHPO, which requires the study and scientific rethinking of some scientific categories.

The aim of the article is to determine the place of legal relations in the sphere of state guarantee on a portfolio basis in the system of law, their characteristic features, as well as the deve­lopment of proposals for improving the legislation of Ukraine in this area.

Methods. In the course of the study, dialectical, formal-logical, structural-functional formal-dogmatic methods, as well as the method of system analysis and synthesis, were used.

Results. Public debt institutions belong to such an institution of financial law as the institution of public debt. Social relations in the field of social security are characterized by the fact that: they arise on the basis of the law; the state directly participates in them; have non-equivalent and monetary nature, they are made in the sphere of financial activity of the state; the state unilaterally establishes the relevant legal relations, determines the entities that can voluntarily enter into the specified legal relations (creditor banks), whereupon the voluntariness of the specified entities ends. The signs of the PGPO are: it is targeted, targeted, non-individualized, paid, fixed-term, provided in accordance with the requirements defined by the legislation.

Conclusions. In connection with the lack of a definition of the concept of «immediately» in the budget legislation, which is used in relation to the provision of DHPO, it should be fixed at the level of the norms of the Budget Code of Ukraine.