Regulatory Alerts2020-01-01
Decision Supplementing the Decision on Transaction Account Opening and Closing
The Council of the Central Bank of Montenegro issued this decision to amend the regulations governing transaction account opening and closing procedures. The amendment mandates that payment service users must notify their providers of any changes to account data or documents within three days of the change occurring. This decision entered into force on the eighth day following its publication in the Official Gazette of Montenegro.
Pursuant to Article 44 paragraph 2 point 3 of the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13) and Article 64 paragraph 8 of the Payment System Law (OGM 62/13), the Central Bank of Montenegro Council, at its meeting held on 25 March 2016, passed the following DECISION supplementing the Decision on the structure, more detail conditions and manner of transaction account opening and closing Article 1 In the Decision on the structure, more detail conditions and manner of transaction account opening and closing (OGM 48/14), in Article 17 after paragraph 3 a new paragraph shall be added, worded as follows: “Payment service users shall notify payment service providers on the change of data and documents used for transaction account opening no later than three days following that of the occurrence of the change”. Article 2 This decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro.
THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO CHAIRMAN GOVERNOR, Decision number: 0101-4014/84-2 Podgorica, 25 March 2016 Milojica Dakić, m.p.