Regulatory Alerts2020-01-01
Decision Repealing Certain Enabling Regulations Concerning the National Payment System
The Council of the Central Bank of Montenegro has repealed three existing enabling regulations governing the national payment system. The rescinded rules previously established procedures for issuing remote access payment instruments, defined licensing and approval conditions for payment systems, and outlined operational supervision frameworks. These repeals take effect upon publication in the Official Gazette of Montenegro and apply from 9 January 2015 to align with the updated Payment System Law.
Pursuant to Article 44 paragraph 2 point 3 of the Central Bank of Montenegro Law (OGM 40/10, 46/10, 06/13) and in conjunction with Article 194 of the Payment System Law (OGM 62/13), the Central Bank of Montenegro Council, at its meeting held on 10 November 2014, passed the following
DECISION repealing some enabling regulations concerning national payment system Article 1 Enabling regulations concerning national payment system passed on the basis of the National Payment System Law (OGM 61/08, 31/12) and governing the topics set forth in the Payment System Law (OGM 62/13) shall be repealed as follows:
- Decision on issuing and use of remote access payment instruments and the manner and deadlines for reporting (OGM 24/09);
- Decision on more detailed conditions for payment system license issuing and revoking and granting approvals (OGM 24/09), and
- Decision on the manner and procedure for the supervision of the national payment system operations (OGM 15/11). Regulations under paragraph 1 above shall be repealed with effect from the date of entry into force of this decision. Article 2 This decision shall enter into force on the eighth day following that of its publication in the Official Gazette of Montenegro and it shall apply from 9 January 2015. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO CHAIRMAN G O V E R N O R, Decision number: 0101-4014/63-12 Podgorica, 10 November 2014 Milojica Dakić, m.p.