The Parliament of Montenegro has adopted the Law on Amendments to the Accounting Act.
In the Accounting Act (“Official Gazette of Montenegro,” No. 145/21), the following amendment was made to paragraph 1 of Article 42:
Acquisition of License, Article 42
Individuals who, prior to the entry into force of this law, were engaged in the valuation of assets are required to obtain a license in accordance with this law within (one year) three years from the date of its entry into force. Individuals who do not obtain a license within the period specified in paragraph 1 of this article cannot engage in the valuation of assets.
Therefore, the renewal period for the license for individuals performing valuation services has been extended from one year to three years from the effective date, that is, until December 31, 2024. Individuals who do not obtain a license within this period cannot perform valuation services.
This law was published in the “Official Gazette of Montenegro,” No. 152/2022, on December 30, 2022, and came into force on the date of its publication.
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