Regulatory Alerts2020-01-01
Decision on Putting into Circulation, the Sale Price and the Withdrawing from Circulation of the Unique Blank Form Bills
The Council of the Central Bank of Montenegro issued this decision to regulate the introduction, pricing, and withdrawal of unique blank form bills. It mandates that the new unique blank form bill be put into circulation on 1 March 2006 and sold by banks at a price of 2 EUR. Additionally, existing bills in denominations of 1, 2, 5, 15, and 25 EUR are permitted for use until 28 February 2006 and must be withdrawn from circulation by 31 March 2006.
On the basis of article 17 clause 1 item 2 of the Law on the Central Bank of Montenegro (OGRM 52/00 and 47/01), the Council of the Central Bank, at its meeting held on 28 December 2005, passed the following DECISION ON PUTTING INTO CIRCULATION, THE SALE PRICE AND THE WITHDRAWING FROM CIRCULATION OF THE UNIQUE BLANK FORM BILLS Article 1 This Decision regulates the putting into circulation and the sale price and withdrawing from circulation of the unique blank form bills. Article 2 The Central Bank of Montenegro will put into circulation on 1. March 2006. the unique blank form bill, with the terms outlined in the Decision on the unique blank form bill. Article 3 The unique blank form bill from article 2 of this Decision will be sold by banks and other legal entities at a price of 2 EUR, on the basis of a special agreement concluded with the Central Bank of Montenegro. Article 4 The unique blank form bills in denominations of 1, 2, 5, 15 and 25 EUR are printed and put into circulation in accordance with the Decision on putting into circulation and withdrawing from circulation of the Unique blank form bills( “ Official Gazette of the Republic of Montenegro”, no. 28/02), can be used until 28. February 2006. The unique blank form bills from clause 1 will be withdrawn from circulation from 31. March 2006. Article 5 On the day this Decision comes into force, the Decision on putting into circulation and withdrawing from circulation of the unique blank form bills will cease to be valid ( “ Official Gazette of the Republic of Montenegro”, no. 28/02). Article 6 This Decision comes into force on the eighth day following its publication in the “Official Gazette of the Republic of Montenegro”. THE COUNCIL OF THE CENTRAL BANK Decision no. 0101-377-17-3 PRESIDENT, Podgorica, 28 December 2005 Ljubiša Krgović, m.p.