The Norwegian Code of Practice for Corporate Governance
The purpose of the Code of Practice is to clarify the respective roles of shareholders, board of directors and executive officers beyond the requirements of the legislation. Oslo Børs stipulates that companies listed on Oslo Børs must annually publish a statement on the company’s principles for corporate governance in accordance with the Norwegian Code of Practice for Corporate Governance – or the equivalent code for companies with a primary listing on a foreign stock exchange. The Code of Practice has been produced and published by the Norwegian Corporate Governance Board (NCBG). NCBG is monitoring the need for adjustments of the code which will be published when deemed appropriate. The current edition was issued on 21 October 2010, replacing the edition of 21 October 2009.
NCGB has decided not to issue a new edition of the Code of Practice in 2011. NCGB considers it adequate to communicate a few minor changes and adjustments to the Code of Practice dated 21 October 2010 by means of a separate document.
Read the Code of Practice for Corporate Governance and the document regarding changes and adjustments to the Code here.