<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The public order clause is an instrument of private international law that limits the possibility of applying the law of a designated country in cross-border contractual relations. The role of the clause is to protect the specific interests and values of a given legal order, the importance of which is so significant that it justifies refusing to apply foreign law or limiting the scope of its application. From the point of view of the subject of this study, the public order clause could potentially be applied by national supervisory authorities in a situation of a threat to the security and stability of a given financial market. Thus the purpose of this article, in which the author uses the functional approach of the comparative legal method, the historical-descriptive method and the dogmatic method, is to verify the thesis about the possible use of the public order clause as an instrument supporting the process of building sustainable finance, along with its limitations in the form of the French concept of <italic>effet atténué</italic> and also from a comparative and cross-border perspective.</p>
</abstract>

The public order clause is an instrument of private international law that limits the possibility of applying the law of a designated country in cross-border contractual relations. The role of the clause is to protect the specific interests and values of a given legal order, the importance of which is so significant that it justifies refusing to apply foreign law or limiting the scope of its application. From the point of view of the subject of this study, the public order clause could potentially be applied by national supervisory authorities in a situation of a threat to the security and stability of a given financial market. Thus the purpose of this article, in which the author uses the functional approach of the comparative legal method, the historical-descriptive method and the dogmatic method, is to verify the thesis about the possible use of the public order clause as an instrument supporting the process of building sustainable finance, along with its limitations in the form of the French concept of effet atténué and also from a comparative and cross-border perspective.

The Application of the Public Order Clause on the Financial Market as One of the Elements for Building Sustainable Finance in a Comparative Perspective

University of Warmia and Mazury in Olsztyn

Białostockie Studia Prawnicze

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The public order clause is an instrument of private international law that limits the possibility of applying the law of a designated country in cross-border...

The Application of the Public Order Clause on the Financial Market as One of the Elements for Building Sustainable Finance in a Comparative Perspective

Publicado en línea: 13 mar 2024

Páginas: 161 - 173

Recibido: 25 may 2023

Aceptado: 15 dic 2023

DOI: https://doi.org/10.15290/bsp.2024.29.01.10

Palabras clave
public order, financial markets, sustainable finance, French law, é

© 2024 Michał Mariański, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The Application of the Public Order Clause on the Financial Market as One of the Elements for Building Sustainable Finance in a Comparative Perspective

Publicado en línea: 13 mar 2024

Páginas: 161 - 173

Recibido: 25 may 2023

Aceptado: 15 dic 2023

DOI: https://doi.org/10.15290/bsp.2024.29.01.10

Palabras clavepublic order, financial markets, sustainable finance, French law, é

© 2024 Michał Mariański, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Palabras clave
public order, financial markets, sustainable finance, French law, é