Decision on Performing Custody Operations

Pursuant to Article 44 paragraph 2 item 3 and Article 38 paragraph 2 of the Central Bank of Montenegro Law (OGM 40/10, 06/13), the Council of the Central Bank of Montenegro, at the session held on 26 May 2017 passed the D E C I S I O N On Performing Custody Operations
Article 1
This Decision shall regulate the performance of custody operations. Custody operations, within the meaning of this decision, shall include the operations of receiving, keeping and returning deposits, which are performed in the Central Bank of Montenegro vaults (hereinafter: the Central Bank).
Article 2
The deposits referred to in Article 1 paragraph 2 of the Decision shall be the values or items submitted to the Central Bank for safe keeping, in accordance with this decision. The safe deposit box may be opened and closed. As a rule, the weight of a safe deposit box per piece may not exceed 20 kilograms.
Article 3
In particular, the following values and items may be received in the safe deposit box:

• Banknotes and coins,

• Banknotes specimen,

• Withdrawn banknotes and coins,

• Securities,

• Counterfeited banknotes, coins, foreign currency cash and securities,

• Precious metals (gold, silver, platinum etc.),

• Valuables and artwork,

• Numismatic collection and objects for completing the numismatic collection,

• Spare keys.
  Items that may endanger the life and health of people, safety of other safe deposit boxes and room in which these are being stored or can damage other safe deposit boxes may not be kept in safe deposit boxes, in particular the following:

• Flammable items,

• Explosive substances,

• Radioactive substances,

• Weapon,

• Narcotics,

• Items subject to breakdown and decomposition.
  Valuables and items to be received in a safe deposit box shall be packed in a manner that ensures their protection against any physical or chemical change.
  Article 4
  The Central Bank shall accept the deposits of government bodies and organizations, legal entities, representative offices of foreign states and international organizations (hereinafter: the Depositor).
  Article 5
  The Central Bank shall receive a deposit at the written request of the depositor, unless otherwise provided for herein. The request shall be submitted one day before depositing the valuables or items in the safe deposit box at the latest. By way of derogation from paragraph 2 above, the request may be submitted, in case of urgency, simultaneously with the delivery of the deposit. The request shall contain the following information:

• Legal grounds for delivering the deposit to custody,

• Depositor`s name, their head office’s address and tax identification number, if
  applicable,

• Description of the value, i.e. the items deposited in the safe deposit box,

• Date of depositing the valuables, i.e. the items in the safe deposit box,

• Name, surname and signature of the person authorized by the depositor to
  deliver the deposit, number of their identification documents and the unique citizen number, if applicable,

• Other important information for receiving the deposit, and

• Name, surname and signature of the responsible person of the depositor,
  certified by the seal.
  In the event that the depositor delivers a deposit containing more than one valuables or items, supported by the request for delivering the deposit, they shall also submit the list of valuables and items with their individual description, signed by the responsible person and certified by the seal of the depositor.
  Article 6
  The Central Bank shall receive property benefits, temporarily and permanently confiscated in accordance with the law governing the confiscation of property benefits acquired in criminal activities in its safe deposit box on the basis of a safe deposit lease

agreement, which shall be deemed, within the meaning of this decision, a deposit safe box. If the deposited valuables or items require a special or specific manner of packaging, receiving, safekeeping and returning, the Central Bank shall accept these valuables or items in safe deposit boxes on the basis of a special agreement.
Article 7
The deposits shall be received by:

• identifying the person who is delivering the deposit,

• taking over the relevant documentation, if any,

• check counting and checking of banknotes and coins if it is open safe deposit
  box and, in exceptional cases if necessary, by listing the serial numbers of banknotes, and

• checking the authentic packaging of the safe deposit box, if it is closed safe
  deposit box.
  The deposit receipt certificate shall be made on the form 01-PR-Ost, which is enclosed to this decision and makes an integral part thereof. The deposit receipt certificate shall be made on the same day as the valuables or items are received to safe deposit box. The deposit receipt certificate shall be made in four copies, of which three are for the Central Bank and one for the depositor.
  Article 8
  The Central Bank shall return deposits to the depositor in the condition they have been received. In the event that the Central Bank, during the custody, finds damage to the deposit, it shall, without any delay, inform the depositor thereof. If the Central Bank finds damage to the packing of the deposit only, it shall, without any delay, invite the depositor to re-pack the deposit.
  Article 9
  The Central Bank shall return the deposits at the written request of the depositor. The request shall contain the following information:

• Legal grounds according to which the deposit is delivered to custody,

• Depositor`s name, their head office’s address and tax identification number, if
  applicable,

• Description of the valuables, i.e. the items being deposited in safe deposit box,

• Date of depositing the valuables, i.e. the items in the safe deposit box,

• Name, surname and signature of the person authorized by the depositor to
  deliver the deposit, number of their identification documents and the uniform identification number, if applicable,

• Other important information for receiving the deposit, and

• Name, surname and signature of the responsible person of the depositor,
  certified by the seal.
  Article 10
  The deposits shall be returned by:

• identifying the person who is receiving the returned deposit,

• submitting the original deposit receipt certificate to the Central Bank,

• check counting and checking of banknotes and coins if it is open safe deposit
  box, in exceptional cases if necessary, and by listing the serial numbers of banknotes, and

• checking the authentic packaging of the safe deposit box, if it is closed safe
  deposit box.
  The deposit return certificate shall be made on the Form 01-PR-Ost, which is enclosed to this decision and makes an integral part thereof. The deposit return certificate shall be made on the same day as the valuables or items are returned to the depositor. The deposit return certificate shall be made in four copies, of which three are for the Central Bank and one for the depositor.
  Article 11
  The Central Bank shall keep the record of the received deposits on Form 03-DN-PR￾Ost., which is enclosed to this decision and makes an integral part thereof. The Central Bank shall keep the record of the returned deposits on the Form 04-DN￾VR-Ost., which is enclosed to this decision and makes an integral part thereof.
  Article 12
  The data, information and documents pertaining to deposits shall be classified as "CONFIDENTIAL".
  Article 13
  The Central Bank may charge a fee for performing custody operations in the amount specified by the regulation regulating the Central Bank tariffs.

The Central Bank shall be entitled to compensation for the damage incurred by safekeeping the deposit.
Article 14
This Decision shall enter 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 Decision number: 0101-4587-2/2017 CHAIRMAN Podgorica, 26 May 2017 GOVERNOR Radoje Žugić, m.p.

CENTRAL BANK OF MONTENEGRO
The Vault
Form 01-PR-Ost.
DEPOSIT RECEIPT CERTIFICATE
 OPEN SAFE DEPOSIT BOX
 CLOSED SAFE DEPOSIT BOX
____________________________________________________ (Name of Depositor) Pursuant to the regulation of the Central Bank of Montenegro governing the performance of custody operations, the following deposits were received on _________. PIECES DESCRIPTION AMOUNT Note:
The deposit shall be returned to the depositor exclusively at their written request, with the obligation to return the certificate.

DELIVERED BY RECEIVED BY
(Depositor Authorized Person) (Central Bank Authorized Persons) ______________ ___________ 1) _____________ _____________ Name and Surname Signature Name and Surname Signature
2) ________________ _________

Name and Surname
Signature
Podgorica, ______________
CENTRAL BANK OF MONTENEGRO
The Vault
Form 02-VR-Ost.
DEPOSIT RETURN CERTIFICATE
 OPEN SAFE DEPOSIT BOX
 CLOSED SAFE DEPOSIT BOX
_____________________________________________________ (Name of Depositor) Pursuant to the regulation of the Central Bank of Montenegro, which regulates the performance of custody operations, the following deposits were received on _________. PIECES DESCRIPTION AMOUNT The deposit is returned in ____________ condition. DELIVERED BY RECEIVED BY (Central Bank Authorized Persons) (Depositor Authorized Person)
1) ______________ ___________ 1) _____________

---

Name and Surname Signature Name and Surname Signature
2) ______________ ____________

Name and Surname Signature
Podgorica, ______________

CENTRAL BANK OF MONTENEGRO
The Vault
Form 03-DN-Ost.
D E P O S I T R E C O R D
Page Number: _________
DATE
DEPOSIT
NUMBER (Full designation)
NAME OF DEPOSITOR
SHORT DESCRIPTION
OF DEPOSITED
VALUABLES
NOMINAL
VALUE/PIECES SIGNATURES NOTE

CENTRAL BANK OF MONTENEGRO
The Vault
Form 04-DN-VR-Ost.
D E P O S I T R E C O R D
Page Number: _________
DATE
DEPOSIT
NUMBER
(Full designation)
NAME OF DEPOSITOR
SHORT DESCRIPTION
OF DEPOSITED
VALUABLES
NOMINAL
VALUE/PIECES SIGNATURES NOTE