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Regulations On Profit Distributions From Nordpolet As

Original Language Title: Forskrift om overskuddsutdeling fra Nordpolet AS

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Regulations on profit distributions from Nordpolet as.

Date-2000-04-05-347 Ministry health and Human Services Department published in 2000 859 FOR the entry into force last modified 05.04.2000-2001-12-11-1513 from 01.01.2002 Change applies to the legal authority FOR Norway-1998-12-11-1300-section 2-2, law-1989-06-02-27-section 1-2 Announced short title regulations on profit from Nordpolet AS the legal authority: established by the Ministry of health and social (now Ministry of health and care services) 5. April 2000 under the legal authority of the regulations of 11. December 1998 No. 1300 about alcohol scheme for Svalbard, jf. section 2-2 the second paragraph.
Changes: modified by regulations 11 des 2001 No. 1513, 10 jan 2006 Nr. 62 (ansv. dep.).

section 1-1. The determination of the net profit Nordpolet AS will operate normal business operations where the profit will go to the welfare purposes in accordance with the company's articles of Association. The sales prices to be determined so that it is secured a normal profit.

§ 1-2. Distribution to welfare purposes Nordpolet AS's net profit will be transferred to the Longyearbyen local government for distribution to the welfare purposes and in accordance with the overall goals for the Norwegian svalbardpolitikk. The transfer should take place after the financial statements are approved.
With welfare purposes is meant welfare measures for the population in Longyearbyen and Svea.
Longyearbyen local government may decide that part of the annual profit should be accrued for later assignments.
Longyearbyen local government prepares annually a report to the Governor on the distribution of the funds.

§ 1-3. Entry into force this Regulation shall enter into force immediately.