Problem statement. The author has researched the links of the financial system of Ukraine, which create institutions and sub-branches of financial law, taking into account their purpose within the system of material production, namely the formation of public financial resources, distribution and use at the level of the state and regions. The market conditions of economy management have been analyzed, which is the basis for proving the need of updating the legal principles of financial and legal

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... institutions' regulation and clarifying their essence. It has been found out that the concept of financial and legal relations requires modern approaches to the legal forms of the state's financial activity and relations that are formed in the process of these activities. Based on the examples that characterize significant changes in the economy management and affect the financial legislation and all parts of the financial system of the country, the author has proved the need to update the components of the science of financial law. The used methods are logical and semantic while studying the concept and components of the financial system of the country and financial and legal science. Structural and logical – was used in the analysis of specific features of legal regulation of financial relations. Dialectical was used in considering modern aspects of financial activity of the country, their influence on the construction of financial and legal categories, institutions and sub-branches and establishing the criterion for their systematization. The tasks of the development of financial and legal science were determined while using the formal and legal method of scientific cognition. The purpose of this paper is to determine the actual criterion for systematizing the components of the science of financial law and updating the tasks of its further development on the basis of the analysis of current realities within financial relations. Results. The author has o [...]