The aim of this article is to address the regulatory framework as one of the key factors determining the success of creation of single market for renewable energy. No one could possibly argue that non-discriminative and consistent legal regulation plays a big role in the creation of a single market. Therefore, the question of legal capability to create the single market for renewable energy and the overall quality of present regulatory framework is at the centre of this article. Our objective (...) is to analyse whether the single market for energy produced from renewable sources can be created under current legal regulation of the European Union Therefore, the first part of the article analyses the competence of the European Union to regulate the renewable energy sector and division of legislative powers between the Member States and the European Union. The goal of the first part is to answer the question whether the European Union has the competence to regulate renewable energy market. The second part of the article analyses the legal framework of measures for the promotion of renewable energy production used in each Member State. The goal of the second part of this article is to answer the question – whether all renewable energy producers are in equal competitive position, notwithstanding different legal frameworks of the Member States. (shrink)

The article analyses the key issues of the legal status of the sole managing body from the perspective of the valid legal regulation, the established case-law and doctrine. The first part of the article analyses the dualism of the manager’s legal status from the perspective of civil law and labour law. The analysis of the latest case-law presented herein shows that the rule of “internal” and “external” relations between the manager and the company formulated in the case-law is applied differently, (...) and the criterion of distinguishing the manager’s as the subject of the labour law and that of the civil law statuses still remains unclear. The authors of the article are of the view that due to insufficient legal regulation in force rules established by the case-law to regulate the manager’s legal status cannot ensure the required legal certainty. Thus, the reform of the manager’s legal regulation is essential. The second part of the article strives to answer the question what legal regulation models exist and what are the main criteria of quality legal regulation. The comparative analysis of the legal status regulation of the sole managing body allows to determine the main available regulation models of the manager’s legal status and to distinguish their advantages and disadvantages. The authors of the article believe that it is necessary to take regard to other states’ practices regulating the relations at issue, however, while creating such legal regulation, the evaluation of economic, cultural and social peculiarities of Lithuania is also required. In search for the most appropriate model of the manager’s legal status, attention should be drawn to the fact that in some aspects the labour law regime is too restrictive (e.g., shareholders cannot recall the manager, who is on maternal leave, and the manager at interim does not have full authority) and uncoordinated with the doctrine of the companies’ law. Moreover, quite a few questions directly related to the issues of the manager’s authority do not fall or only partially fall into the scope of the labour law. On the other hand, the problem of the manager’s legal status involves a broader scope of points of the companies’ law than the dualism of the manager’s status, and a part of these points has already been regulated by the Law on Companies (the agreement conclusion, termination, removal from the register of legal persons, terms of notice). In regard to this, a question can be raised if it not be better to regulate the issues of the manager’s legal status by the provisions of the Law on Companies and not of the Labour Code. It is proposed to create a specific legal regulation of the companies’ law, which could meet the needs of business and match up to the doctrine of the companies’ law, which is already being applied. (shrink)

Each developed economic system is based on the principle of division of labor and can’t be imagined without the delegation of certain powers to agents. Any economic activity, particularly carried out through legal entity, is not able to function without the party’s right to authorize other persons to negotiate and make contracts on behalf of the principal. Due to the complexity of the economic order it is sometimes difficult to a third party to ascertain whether the agent acts with authority. (...) Therefore legal regulation expands the scope of authority of the representatives beyond the actually granted powers—often the need to check the credentials of the representatives is rejected, when it is obvious from the facts that they have been granted necessary powers. (shrink)

With reference to the Dutch model, which has been adopted by the Lithuanian Civil Code, the possibility to renounce Investigation Proceedings in the Articles of Incorporation or shareholder agreements is analysed in this article. The mandatory nature of the Investigation Proceedings is derived from the provisions of the Code, mainly: from an active role of the court, typical to the cases with the element of public interest, from specific rules for protecting the public interest in the course of the Investigation (...) Proceedings, also taking into account statutory duties of managers, the scope of which may not be narrowed by SHA, and the fact, that the Investigation Proceedings is generally designated to be an instrument to safeguard the interests of minority shareholders against the abuse of their rights by the company, and, finally, acknowledging the extraordinary nature of remedies available in the Investigation Proceedings. (shrink)

Contract theories may be a useful analytical tool for understanding and explaining contract, as well as for facilitating orientation in a complex and often fragmented legal regulation. The article presents main understandings of contract in various European jurisdictions: contract as free assumption of obligation, contract as a bargain based on the idea of consideration, contract as free assumption of obligation based on sufficient causa. The article inquires as to how universal those theories are, what are the recent trends in the (...) development of European contract law, what philosophy of contract underlies the soft law instruments, such as UNIDROIT Principles of International Commercial Contracts or Principles of European Contract Law (PECL), what is the stance of the Draft Common Frame of Reference (DCFR) in regard to the concept of contract. Under the law of Lithuania the definition of contract comprises elements found in several European countries, but it is argued that the new Lithuanian Civil Code has not received any model in its pure form. However it seems that the prevailing view understands contract as juridical act, as freely assumed obligation and meeting of parties’ intentions with the aim to create legal effects. Following the position of soft law instruments in regard to the elements of the contract, Lithuanian law (at least in its statutory form) does not have any explicit additional requirements, such as consideration or causa. (shrink)