Podgorica, (MINA-BUSINESS) – According to the Chamber of Commerce (PKCG), the successful implementation of the new Law on Business Organizations will largely depend on the efficiency of administrative procedures and the technical readiness of institutions, particularly in the field of registration of companies and processing of their applications.

At an event titled Implementation of the New Law on Business Organizations: Advantages, Challenges, Limitations, organized by PKCG in cooperation with the Association of Lawyers of Montenegro as part of the programme Business Law Days at the Chamber, it was noted that the new law brings greater regulatory precision regarding management bodies, the responsibilities of legal representatives, as well as clearer distinctions between concepts such as founder, company member and owner, which had often caused confusion in practice.

“It was also noted that certain solutions would require additional interpretation and possible improvements through amendments, and that it will be crucial to maintain continuous dialogue between the business community, professional public and competent institutions in the coming period,” PKCG representatives said.

Participants agreed that, alongside regulatory improvements, it is necessary to ensure functional support for the system in order to avoid legal uncertainty and business disruptions, and to enable the law to create a more stable, predictable and competitive business environment.

Director of the PKCG Training and Quality Sector Mladen Perazic said that the Law on Business Organizations is among the most important systemic laws for the functioning of a market economy.

He stated that it regulates not only the establishment and organization of business entities, but also key aspects of corporate governance, the responsibility of company bodies, the protection of shareholders’ and members’ rights, business transparency and legal certainty.