Constitutional bases of self-regulation of economic activity

Abstract

Background. Formation and development of Ukraine as a democratic, social and legal state is impossible without effective self-regulation of economic activity.
Analysis of recent research and publications. In Ukraine, the issue of self-regulation has been studied primarily in the context of certain specialized self-regulatory organizations, their legal status and functions.
The aim of the article is a formal definition and legal justification of the concept of self-regulation in business by analyzing individual articles of the Constitution of Ukraine, the European Parliament and the Council.
Materials and methods. General scientific and special methods of knowledge of legal phenomena such as analysis and synthesis, systematic approach, interpretation of the rules, formal logical, dialectic, systematic and functional, comparative legal and synthesis were used. Information base of research is the Constitution of Ukraine, laws of Ukraine, EU Directive, national research papers.
Results. Self-regulation in economic activity is defined as the voluntary implementation by the entities of measures to organize and streamline certain field of public relations, define rules, standards and guidelines for the interests of society and the communities.
Analysis of the EU Directive brings us to a conclusion that self-regulation is: an additional tool that exists along with judicial and administrative procedures; voluntary method of control; effective mechanism for regulation of social relations; initiative activities of relevant entities to the adoption of common principles; plays a useful role in ensuring activities within the directives of the European Union; cannot be a substitute for legal commitments at a national level; encouraged the use of co- regulation and self-regulation in certain areas, which affect positively consumer rights protection.
Conclusion. Self-regulation in economic activity requires constitutional and legislative support. Constitution of Ukraine does not define the issue of self-regulation. Due to this it is expedient to amend the Constitution of Ukraine on self-regulation, namely to complement Article 42 of the Basic Law with Part 5, which should be as follows:«The State guarantees self-regulation of economic activity. Establishment and operation of self-regulatory organizations are determined by law. Self-regulation must not disrupt free exercise of professions and restrict freedom of establishment».