Decision on medals and tokens similar to euro coins

Unofficially consolidated version DECISION ON MEDALS AND TOKENS SIMILAR TO EURO COINS (OGM 044/14 of 21 October 2014, 061/18 of 14 September 2018) Basic provision Article 1 This Decision shall define detailed conditions of production, sale, import or distribution of metals and tokens similar to euro coins, for the purpose of sale or other commercial purposes. Terms and Definitions Article 2 Specific terms used in this Decision shall have the following meanings:

1. ‘euro’ means the legal currency of Member States of the European Economic and Monetary Union (hereinafter: the EMU) and of those participating in the EMU which have concluded an agreement with the European Union on the introduction of the euro;
2. “Euro symbol” means the symbol representing the euro ‘€’ as shown and described in Annex I of this Decision;
3. “Medals and tokens” means those metallic objects, other than blanks intended for striking coins, which have the appearance and/or technical properties of a coin and are neither a legal means of payment nor legal tender in any of the countries;
4. “Gold”, “silver” and “platinum” mean alloys containing gold, silver and platinum with a millesimal fineness in weight of at least 375, 500 and 850 respectively.
5. “Reference band” shall have the meaning given to it in Annex II Section 1 of this Decision.
6. ‘economic entity’ means a legal person, an entrepreneur or a natural person who produces, sells, imports or distributes for sale or for other commercial purposes medals and tokens similar to euro coins. Protective provisions Article 3 The production and sale of medals and tokens, and their import and distribution for sale or for other commercial purposes, shall be prohibited in the following circumstances:
7. when the terms “euro” or “euro cent” or the euro symbol appear on their surface; or
8. when their size is inside the reference band; or
9. when any design appearing on their surface is similar to:

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• any design, or parts thereof, appearing on the surface of euro coins, including in particular the terms “euro” or “euro cent”, the 12 stars of the European Union, the image of the geographical representation and the numerals, in the way depicted on euro coins;
• those symbols representative of national sovereignty of Member States, as depicted on euro coins, including in particular the effigies of the Head of State, the coat of arms, the Mint marks, the Mint master marks, the name of the Member State;
• the edge shape or the edge design of euro coins, or
• the euro symbol. Exemptions Article 4 Medals and tokens bearing the terms “euro” or “euro cent” or the euro symbol without an associated nominal value shall not be prohibited when their size is outside the reference band, unless on their surface appears a design similar to some of the elements listed in Article 3, point 3 herein. Notwithstanding Article 3 point 2 herein, medals and tokens whose size is inside the reference band shall not be prohibited when:

1. they are pierced with a hole of over 6 millimetres in the centre, or when their shape is polygonal but not exceeding six edges, provided the condition under point 3 indent 2 of this paragraph is respected; or
2. they are made of gold or silver or platinum; or
3. when they fulfil the following conditions:

• the combinations of diameter and edge height of medals and tokens are consistently outside the ranges defined in each of the cases specified in Annex II Section 2 of this Decision; and
• the combinations of diameter and metal properties of medals and tokens are consistently outside the ranges defined in each of the cases specified in Annex II Section 3 of this Decision. Approvals Article 5 An economic entity wishing to produce, sell, import or distribute for sale or for other commercial purposes medals and tokens similar to euro coins shall first submit a request to the Central Bank for obtaining the approval. An economic entity shall provide the Central Bank with the medal or token similar to euro coins together with the request for granting approval referred to in paragraph 1 above. The Central Bank of Montenegro (hereinafter: the Central Bank) shall submit to the European Commission - Directorate-General for Economic and Financial Affairs (DG ECFIN) a medal or a token similar to euro coins referred to in paragraph 2 above, as well as all other metal items received for inspection and for which it determines that they are similar to euro coins), for opinion whether they can be regarded as a medal and/or token,

3 within the meaning of this Decision, and whether the prohibition applies to their production, sale, import or distribution for the purpose of sale or other commercial purposes. If the DG ECFIN issues an opinion that the item referred to in paragraph 3 above can be considered a medal or a token in terms specified herein and that it is not subject to the prohibition of production, sale, import or distribution for the purpose of sale or other commercial purposes, the Central Bank shall give the approval for their production, sale, import or distribution for sale or for other commercial purposes; otherwise, the Central Bank shall deny the request. Existing medals and tokens Article 6 Economic entities which are in possession of medals and tokens similar to euro coins on the date of entry into force of this Decision shall be prohibited to sell these medals or tokens and distribute them for sale or other commercial purposes without the approval of the Central Bank. Offences Article 7 A fine ranging from 1,000 euros to 10,000 euros shall be imposed against an economic entity – legal person if:

1. it produces, sells, imports or distributes for sale or for other commercial purposes medals and tokens similar to euro coins without the approval of the Central Bank (Article 5 paragraph 1);
2. it sells or distributes for the purpose of resale or other commercial purposes medals and tokens similar to euro coins in its possession on the date of entry into force of this Decision without the approval of the Central Bank (Article 6). For the offence specified in paragraph 1 above, an economic entity - entrepreneur shall be also imposed a fine ranging from 500 euros to 3,000 euros. A responsible person in the economic entity - legal person and natural person shall be also imposed a fine ranging from 500 euros to 1,000 euros for the offence specified in paragraph 1 above. A protective measure of revoking medals and tokens similar to euro coins subject to offences shall be imposed together with the imposing of measures for offences referred to in paragraphs 1 through 3 above Transitional provision Article 8 Economic entities shall submit the request for approval to the Central Bank specified under Article 6 herein within 90 days following the date of entry into force of this Decision.

4 Final Provision Article 9 This Decision shall come 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

5 ANNEX I Appearance of the euro symbol referred to in Article 2 point 2 herein

6 ANNEX II

1. Definition of the reference band referred to in Article 2 point 5 herein a) The reference band for the size of medals and tokens is a set of combinations between the values for diameter and values for edge height included in the reference range for diameter and the reference range for edge height respectively. b) Reference range for diameter is the one between 19.00 millimetres and 28.00 millimetres. c) Reference range for edge height is the one included between 7.00 % and 12.00 % of each value within the reference range for diameter.
2. Ranges referred to in Article 4 paragraph 2 point 3 indent 1 herein Defined ranges Diameter (mm) Edge height (mm)
3. 19.45 – 20.05 1.63 – 2.23
4. 21.95 – 22.55 1.84 – 2.44
5. 22.95 – 23.55 2.03 – 2.63
6. 23.95 – 24.55 2.08 – 2.68
7. 25.45 – 26.05 1.90 – 2.50
8. Ranges referred to in Article 4 paragraph 2 point 3 indent 2 herein Diameter (mm) Metal properties
9. 19.00 – 21.94 Electrical conductivity between 14.00 % and 18.00 % IACS
10. 21.95 – 24.55 Electrical conductivity between: — 14.00 % and 18.00 % IACS; or — 4.50 % and 6.50 % IACS, unless the medal or token is of single alloy and its magnetic moment is outside the range from 1.0 to 7.0 μVs.cm
11. 24.56 – 26.05 Electrical conductivity between: — 15.00 % and 18.00 % IACS; or — 13.00 % and 15.00 % IACS, unless the medal or token is of single alloy and its magnetic moment is outside the range from 1,0 to 7,0 μVs.cm

7 4. 26.06 – 28.00 Electrical conductivity between 13.00 % and 15.00 % IACS, unless the medal or token is of single alloy and its magnetic moment is outside the range from 1.0 to 7.0 μVs.cm 4. Graphical representation The following graph provides an indicative illustration of definitions specified in this Annex: