Government Civil Liability against Export-Oriented Companies

Abstract

During the currency crises of the 2010s (Jalali 1390s), one of the government’s effort to reduce the escalating rate of exchange rate was to set a fixed price for the currency. To this end, the government had to make supportive decisions on this rate such as export bans and commanding sale of commodities in the stock exchange. Reviewing the legal and jurisprudential bases of such decisions requires that the government civil liability against the exporting companies shall be considered both in “faults due to approval of regulations against rules” and “civil liability - regardless of fault - due to the principle of equity and legitimate expectations rooted in economic security”. The present research is a library research, which analyzes the above case based on a descriptive-analytical method. It is concluded that firstly Imamieh Jurisprudence has refrained from defining the commanding price in economic tough situations such as shortage of commodities due to the hoarding by the Islamic government in spite of preventing the owners of the same. Secondly, from the legal point of view, preventing exportation of commodities is against Article 23 of the perpetual orders of the State Development Plan ratified in 1395 (2016) as well as Article 18 of the Law on Developing the New Instruments and Financial Institutions in line with Facilitating Implementation of General Policies of Principle 44 of the Constitution. The said principle makes the government bound to exclude the commodities registered in the stock exchange from the pricing system.

Keywords

• capital market law
• government economic civil liability
• civil liability resulted from the economic regulations
• export ban
• currency fluctuation