Abstract:

According to the Article 176 of the Criminal Law, the informal financial practice of "taking public-savings" is criminal. This legislation is worthy of discussion. It is against the restrictive principle of modern criminal law, the principle of protecting the interests of public investors, and the need to develop socialist market economy. To sum up, the de-criminalization of the crime of illegal taking public-savings is essential for the establishment of a fair, reasonable economic order and the equality in the financial industry.

Key words: the crime of illegal taking public-savings, de-criminalization, investment contract, restrictive principle, market economy