Regulatory Alerts2023-01-01
Corrigendum to the Decision on Minimum Monetary Amount of the Professional Indemnity Insurance or Other Comparable Guarantee Covering the Liability for Providing Specific Payment Services
The Central Bank of Montenegro issued a corrigendum to correct an error in the Decision on Minimum Monetary Amount of the Professional Indemnity Insurance published in the Official Gazette. The amendment specifically modifies Article 9 paragraph 1 item c) to replace the incorrect figure with the correct minimum amount. This change establishes the required coverage as including EUR 5,000,000 for liability arising from specific payment services.
Upon a comparison with the original text, it was established that an error found its way into the text of the Decision on minimum monetary amount of the professional indemnity insurance or other comparable guarantee covering the liability for providing specific payment services, published in the Official Gazette of Montenegro 87/23, resulting in the following CORRIGENDUM TO THE DECISION ON MINIMUM MONETARY AMOUNT OF THE PROFESSIONAL INDEMNITY INSURANCE OR OTHER COMPARABLE GUARANTEE COVERING THE LIABILITY FOR PROVIDING SPECIFIC PAYMENT SERVICES In Article 9 paragraph 1 item c) the words: “including EUR ,000,000” shall be replaced by the following: “including EUR 5,000,000;”. Podgorica, 30 October 2023 From the Central Bank of Montenegro