What is Financial Law and What Does it Represent?

There are two theories in legal law according to criminal defence lawyer brampton:
financial law is an independent industry; objective financial law is a compilative legal industry, ie. it has interfaces with all other legal branches and does not have its own subject of legal regulation.

The first opinion is that financial law is an independent industry but has a connection with other legal sectors. In order to be identified as an independent legal branch, it must have its own legal regulation, i.e. a certain circle of social relations with which another sector does not deal and there must be a method of legal regulation (secondary criterion).

Financial law, as an industry branch, is an independent branch of the legal system, which is a set of financial norms regulating social relations arising in the course of the financial activity of the state, concerning the distribution, accumulation, spending and use of the aggregate public product (national income) and control of this activity, with a view to collecting and using the necessary funds for society and the state. In theory, the impact on the economy is important in order to raise and use the funds from the budget.

Financial law as a discipline represents theoretical knowledge and practical skills for the objective financial law and for the achievements of the financial and legal sciences.
Financial law as a science represents research on financial law as a branch of law in order for it to be used by the state as a means of managing and managing finance and developing the economy and society

The subject of financial law is the aggregate of relations arising from the financial activity of the State in relation to the distribution, accumulation, spending and use of the aggregate public product (national income) and the control of that activity. The essence of the subject matter of the regulation of financial law is distinguished from three prerequisites:
socio-economic development;reproduction; to increase reproduction, more material goods must be produced, that is, higher national income (national income is the subject of distribution and use and it is the source of all goods);

The role of the state is to manage the distribution and use of national income.
Financial law regulates financial relations. They have a monetary nature (they govern the movement of cash), but not all financial relationships are monetary and: vice versa.
The state has two spheres - production and non-productive (education, health, science, army, etc.). The production sphere creates national income. The state cannot do without the non-productive sphere, and therefore a means must be found for transferring the resources from the production sphere. To this end, the state budget is established to establish the link. The state budget is a centralized monetary fund. Transfer relationships are called financial relations.

Subject of legal regulation.

In this respect, the object of legal regulation is complex and involves relatively independent and mutually and necessarily tied social relations. The subject reflects the unified process of generating and determining income and profits.

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