Regulatory Alerts2021-01-01
Decision on Documents Supporting the Request for Granting Approvals under the Law Governing Financial Leasing, Factoring, Purchase of Receivables, Micro-Lending and Credit-Guarantee Operations
The Council of the Central Bank of Montenegro issued this Decision to prescribe the specific documentation required for granting regulatory approvals under the Law governing financial leasing, factoring, purchase of receivables, micro-lending, and credit-guarantee operations. The regulation mandates detailed submissions for six distinct approval categories, including acquiring qualifying participations, electing board members or executive directors, founding foreign subsidiaries, merging entities, and transferring assets and liabilities. It further specifies evidentiary requirements such as financial statements, criminal records, educational credentials, and business plans, while establishing that the Decision entered into force on 11 May 2018.