MONTENEGRO Law and Practice Contributed by: Bisera Andrijasevic and Marija Ksenija Popović, BDK Advokati
of a serious intent of the parties to enter into such an agreement. This serious intent must be demonstrated in a written form, such as a let - ter of intent or memorandum of understanding, which must be signed by all concentration par - ticipants. 3.3 Filing Fees If a concentration is cleared in summary pro - ceedings and unconditionally (Phase I), the filing fee is 0.03% of the combined annual turnover of the concentration participants in the financial year preceding the concentration, capped at EUR15,000. If the concentration is cleared following an inves - tigation and/or subject to conditions (Phase II), the filing fee is 0.07% of the combined annual turnover of the concentration participants in the financial year preceding the concentration, capped at EUR20,000. Upon submission of a notification, the notify - ing party is required to pay the initial portion of the fee, amounting to EUR600. The remaining balance of the fee, determined by whether the concentration is cleared in Phase I or Phase II, must be paid before the issuance of the clear - ance decision. The Agency issues a payment notice to the notifying party for this purpose. While there are no prescribed deadlines for either part of the fee, the Agency will not com - mence the review process or issue the clearance decision until the respective fee is paid. 3.4 Parties Responsible for Filing In the case of an acquisition of sole control, the acquirer is solely responsible for notifying the concentration. For the acquisition of joint control, all parties acquiring control share the responsibility for submitting the notification. In
the case of a merger, both merging parties are required to file the notification. 3.5 Information Included in a Filing The scope of information and documents required for a notification depends on whether it is submitted as a short-form or full-form noti- fication (see 3.11 Accelerated Procedure for the conditions for short-form notification). The list of required items is extensive, and the author - ity adopts a formalistic approach, requiring all specified documents and information to be pro - vided, irrespective of the concentration’s local effects or the relevance of the information to the substantive assessment. The required documents include the transaction document, registry excerpts, group charts and financial statements of competition participants for the three years preceding the filing year. The required information encompasses detailed data about the parties to the concentration, including, but not limited to, the number of the employees, top customers and suppliers, distribution and/or sales networks. Additionally, it must include the structure and the rationale for the concentration, as well as comprehensive information on the rel - evant markets, including the market shares of the parties and their competitors. The filing must be submitted in Montenegrin, both in hard-copy and electronic form. All sched - ules in a foreign language must be translated into Montenegrin by a court-certified translator. Strict formal requirements apply to certain docu - ments submitted with the notification. Registry excerpts (for the parties to the concentration and their related entities holding at least 25% of shares or exerting dominant influence over their management), powers of attorney, and the con - centration act must be provided in their original
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