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The Law On Export Credit Norway As (Export Credit Law)

Original Language Title: Lov om Eksportkreditt Norge AS (eksportkredittloven)

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Law of Export Credit Norway AS (export credit law)

Date LO-2012-06-22-57
Ministry of The proximity and the fisheries Department
Last modified
Published In 2012 booklet 8
Istrontrecation 01.07.2012
Announcement 22:06.2012 10:00 PM 15.55
Card title Export credit law

SECTION 1. Formal

The law determines frames for the establishment and operation of a government-run Norwegian stock company that shall have for the purposes of managing a government arrangement for financial services to the Norwegian export of capital goods and services. The company's name should be Export Credit Norway AS.

SECTION 2. The company owns

The state is supposed to own all the stocks of the company

SECTION 3. The company's business

To promote purpose as mentioned in Section 1, the company can in its own name

1. te publicly supported export credits in accordance with international agreements, and
2. te loans on market conditions as an alternative to loans as mentioned in No. 1 1.

Closer to regulations on export credits and loans that can be totes in co-hold of the first clause can be provided by the ministry at regulation.

SECTION 4. Financiation of the company's business

The loan business should in its entirety be funded by appropriation over the state budget.

Midler to the operation of the company is appropriation of the state.

The company cannot occupy loans or quiet security without the Parliament's consent.

The wealth revision shall be subject to revision of the loan sheet.

SECTION 5. State of the States

The state is responsible for the obligations that the company earns in connection with the loan business and that does not link to the operation of the company. Claims against the state as mentioned in the first period shall be fixed to the company.

SECTION 6. The Emergency Law

Law 13. June 1997 No. 44 if stock companies apply to the company in the extent that no other follows of the law here.

SECTION 7. The Forces of the

The election of the company is hearing under the Board, which also impose its compliance with regulations stipulled in or in co-law, the company's ordinance as well as general guidelines determined by the General Assembly.

Cases believed to be of essential importance for the company's purposes, which in significantly can change enterprise character, or that can obtain essential community economy or civic effects, shall be lecges for the General Assembly before the Board of Directorate hits the ordinance. In the ordinance, it can be determined closer to rules about which cases are to be named the General Assembly after the first period.

SECTION 8. The relationship with other legislation

Law 10. February 1967 about the processing way in management matters does not apply to the company's business.

Law 4. March 1983 # 3 about the state's officials m.and Law 18. July 1958 # 2 about public service activists do not apply to the company.

Law 10. June 1988 # 40 1 whether funding business and financial institutions do not apply to the company, jf. The financing enterprise law Section 1-3 first clause No. 1.

Law 4. December 1992 No. 126 if archive does not apply to the company.

1 Raised, see now law 10 apr 2015 number 17.
SECTION 9. The replenishment regulations

The Ministry can at regulation determine further regulations on the loan business and the company's business, herders the case processing in loan matters, the management of the company's funds, the operation of the company including coverage of the company's operating costs, as well as for the fill of the regulations of the law.

SECTION 10. Istrontrecation

The law applies from the time the King decides. 1

1 From 1 July 2012 ifg. res. 22 June 2012 No. 1 571.