Commercial court of Montenegro initiated on 16 February with registration of Montenegrin firms according to the new Law on commercial association, even though it had been predicted it to be applied 180 days alter, was announced from this institution. "The new law is being applied on the occasion of registering but the old forms are still used and forwarded to the judge of Commercial court", said register judge Dijana Raickovic for Montena-business. By Law on commercial associations published in the Official register on 16 February, it is predicted registration to be realized by registrations while according to the old Law on firms it would be entrusted to a judge of Commercial court. Raickovic explained that applying of the new law on commercial associations had initiated earlier so that procedure on establishing of associations with limited liability would be simpler and expenses lower. She also said that it was predicted by the law on commercial associations foundation deposit of the associations with limited liability to be 1 EUR while according to the old law they had to pay 5000 USD. "New forms for registration will be finished in a week and registrar whose task, according to the new law, is to register a company into a Central Register of the Commercial Court, will finish with training till 16 May", explained Raickovic and she added that According to the new law the firms could re-register until 16 August. She said that the registration-fee entrepreneur, partner limited liability-companies would pay was now 10 EUR while registration of stock company would coast 50 EUR. According to her minimal foundation capital for stock companies was according to new regulations 25 thousand EUR but those who had already been founded would be allowed re-registration in case they proved they possessed property worth that much. "According to the new Law, on registering the firm registrar checks if the documentation is complete but not if it is credible and it accelerates registration. Checking of data should be finished by the company that is in business relation with the registered firm since it bears the risk on credibility of the forwarded documentation", explained Raickovic. Firms that are proven to have forwarded false data will be fine with up to 25 thousand EUR or the responsible will be sentenced up to five years of prison.