Definition
Article 52
For the purposes of this Agreement: (a) ‘Community company’ or ‘Montenegrin company’ shall mean, respectively, a company set up in accordance with the laws of a Member State, or of Montenegro and having its registered office or central administration or principal place of business in the territory of the Community or of Montenegro. However, should the company, set up in accordance with the laws of a Member State or of Montenegro, have only its registered office in the territory of the Community or of Montenegro respectively, the company shall be considered a Community or a Montenegrin company if its operations possess a real and continuous link with the economy of one of the Member States or of Montenegro; (b) ‘Subsidiary’ of a company shall mean a company which is effectively controlled by another company; (c) ‘Branch’ of a company shall mean a place of business not having legal personality which has the appearance of permanency, such as the extension of a parent body, has a management and is materially equipped to negotiate business with third Parties so that the latter, although knowing that there will if necessary be a legal link with the parent body, the head office of which is abroad, do not have to deal directly with such parent body but may transact business at the place of business constituting the extension; (d) ‘Establishment’ shall mean: (i) as regards nationals, the right to take up economic activities as self-employed persons, and to set up undertakings, in particular companies, which they effectively control. Self-employment and business undertakings by nationals shall not extend to seeking or taking employment in the labour market or confer a right of access to the labour market of another Party. The provisions of this Chapter do not apply to persons who are not exclusively self-employed; (ii) as regards Community or Montenegrin companies, the right to take up economic activities by means of the setting up of subsidiaries and branches in Montenegro, or in the Community respectively; (e) ‘Operations’ shall mean the pursuit of economic activities; (f) ‘Economic activities’ shall in principle include activities of an industrial, commercial and professional character and activities of craftsmen; (g) ‘Community national’ and ‘national of Montenegro’ shall mean respectively a natural person who is a national of a Member State or Montenegro respectively; With regard to international maritime transport, including inter-modal operations involving a sea leg, Community nationals or nationals of Montenegro established outside the Community and Montenegro, and shipping companies established outside the Community or Montenegro and controlled by Community nationals or nationals of Montenegro, shall also be beneficiaries of the provisions of this Chapter and Chapter III, if their vessels are registered in that Member State or in Montenegro, in accordance with their respective legislation; (h) ‘Financial services’ shall mean those activities described in Annex VI. The Stabilisation and Association Council may extend or modify the scope of that Annex.