DECISIONS BY THE COURT OF JUSTICE OF THE EU AS THE SOURCE OF THE INTERNAL LEGAL RULES OF THE EU

Abstract

The research analyses the impact of the rulings of the Court of Justice of the EU on the development of various branches of the EU Law, legal regulations for the functioning of the internal market of the EU. Besides, it considers application of the Court’s rulings in the process of legal approximation of Ukraine’s law to that of the EU. The novelty of the research lies in the definition of the principles of functioning of enterprises in the EU Member States that ensure economic integration and internal market development in the EU. This is important for the optimal distribution of the resources across all territory of the EU, with enterprisers being able to choose the best state and best economic, legal and social conditions for their business, using relevant EU norms and standards which allow them to relocate business if necessary, if application of the EU law is more attractive compared to their national legislation. Harmonised coprporate law of the EU which complement national corporate legislation are implemented in the sources of EU law. The study of these sources is an important initial step in the process of approximation of the Ukrainian law to that of the EU. The study of the rulings by the Court of Justice of the EU relates to various spheres of law, both already in place and those still developing, and which are to be integrated into the Ukrainian law in the process of legal approximation, e.g. the Companies Law (Corporate Law), Intellectual Property Law, EU Insurance Law. The process of analysis of the Court of Justice's judgements will enhance the process of harmonisation of the Ukrainian law, providing the opportunity for setting up «agreed projects of regulations/recommendations and guidance on norms which correspond to the EU standards and directives» which would be beneficial for Ukraine's legal system, for its normative part. Rulings of the Court make provisions for the regulation of supra-national bodies functioning via relevant directives and regulations, for enhancing protection of the rights of shareholders, unions, third persons and investors, securities market participants, for effective relations between subjects of corporate relations. Apart from being the force for forming and development of the EU Law, the Court’s decisions aim at removing discrimination, at ruining barriers for free creating of legal bodies, for effective functioning of the common market of the EU. Key words: the European Court of Justice; the bodies of the EU; EU law; EU judiciary system; sources of EU legal system; rulings by the Court of Justice of the EU.