Regulatory Alerts2026-01-01
Corrigendum to the Decision on More Detailed Regulation of Contractual Recognition of Write-Down and Conversion Powers in Relation to Credit Institution’s Liabilities Governed by a Third Country Law
The Central Bank of Montenegro issued a corrigendum to correct an error in the Decision on More Detailed Regulation of Contractual Recognition of Write-Down and Conversion Powers in Relation to Credit Institution’s Liabilities Governed by a Third Country Law. The amendment specifically modifies Article 5 of the original decision to ensure accurate legal referencing. It replaces the term "Law on Credit Institutions" with "Law on Resolution of Credit Institutions" to align with the correct statutory framework.
Upon a comparison with the original text, it was established that an error found its way into the text of the Decision on More Detailed Regulation of Contractual Recognition of Write-Down and Conversion Powers in Relation to Credit Institution’s Liabilities Governed by a Third Country Law (OGM 122/2020 of 17 December 2020) resulting in the following CORRIGENDUM TO THE DECISION ON MORE DETAILED REGULATION OF CONTRACTUAL RECOGNITION OF WRITE-DOWN AND CONVERSION POWERS IN RELATION TO CREDIT INSTITUTION’S LIABILITIES GOVERNED BY A THIRD COUNTRY LAW In Article 5 of the Decision on More Detailed Regulation of Contractual Recognition of Write-Down and Conversion Powers in Relation to Credit Institution’s Liabilities Governed by a Third Country Law, the words “Law on Credit Institutions” shall be replaced by “Law on Resolution of Credit Institutions”. Central Bank of Montenegro