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The Effectiveness of the Legal Framework of GCG

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2.3 Role of the Law

2.3.3 The Effectiveness of the Legal Framework of GCG

In order to understand the contribution of the current legal framework of GCG to the goal of ensuring a functional commodity sector, wefirst need to clarify its scope and content. This will be the subject of our conceptualisation of TCL in Chap.3below— which thus shall be in itself afirst contribution to fostering the effectiveness of the current framework.178

In Chap.4we will analyse in more detail what can be said about the effectiveness of the current TCL framework overall. A word of caution in this respect shall be shared. While our analysis is based on a comprehensive appraisal of the regulatory instruments and standards applicable to commodity activity, a well-founded quality assessment of this vast body of law would require extensive analysis, e.g. based on the possibilities provided by computational text analysis.179The statements on the effectiveness of the TCL framework we provide in Chap.4below therefore do not claim to be absolute, but rather constitute an approximation to this complex question.

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Chapter 3

Conceptualising TCL

This chapterfirst shares additional thoughts on the purpose and legitimacy (Sect.

3.1) of our conceptualisation of TCL before presenting the organisational framework of TCL (Sect.3.2) as well as the sources, structure, and application of its normative substance (Sect.3.3).

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