The article analyzes the forms of legal regulation of the right to participate in the business association’s governance as one of the basic corporate rights of a participant. Four main forms of such regulation are identified. These are international legal acts, national regulatory legal acts, local corporate acts and corporate agreements. It is emphasized that although international legal sources do not contain direct norms regarding this right, they influence the formation of national legislation within the framework of European integration processes. Particular attention is paid to EU Directives, which form corporate governance standards. The feasibility of implementing the European Commission Recommendations is emphasized, and the important role of the Corporate Governance Principles, which reflect the best international standards of corporate governance, is also proven. The relevant provisions of the Constitution of Ukraine, the Civil and Commercial Codes, as well as special laws on joint-stock companies, limited and additional liability companies, general and limited partnerships are characterized. The emphasis is made on the need to take into account the provisions of some laws of Ukraine that regulate the exercise of the right to participate in business association’s governance in companies operating in specific areas of economic activity (insurers, banks, collective investment institutions, etc.). Separately, subordinate legislation is considered, in particular, the resolution of the Cabinet of Ministers of Ukraine, which approved the Model Charter of LLC and a number of decisions of the National Securities and Stock Market Commission of Ukraine, which approve the procedures for conducting electronic and remote general meetings, as well as the principles of corporate governance. Local acts, such as constituent documents and internal regulations, are defined as a means of specifying general norms for the needs of a particular company. Corporate agreements are analyzed as an instrument of contractual regulation that allows for the detailed procedure for participation in management, but cannot contradict imperative norms. The article proves that only a systematic approach taking into account all forms of legal regulation ensures the effective implementation of this corporate right.
V. O. Romanenko (Mon,) studied this question.