Regulations relating to loans and loan terms, etc.. for inter-municipal companies.
Date FOR-1999-12-17-1567
Ministry Ministry of Local Government and Regional Development
Published Dept. In 2000 441
Commencement 01.01.2000
Edited
Changes
For
Norway
Legal
LOV-1999-01-29-6-§22
Promulgated
Short Title
Regulation on loans and loan covenant IKS
Adopted by Local Government and Regional Development (now Ministry of Local Government and Regional Development) on 17 December 1999 pursuant to the Law of 29 January 1999 no. 6 on intermunicipal companies § 22.
§ 1 Scope These regulations apply to inter-municipal companies established by law on inter-municipal companies 29 January 1999 6.
§ 2. Installment Method Loans for capital purposes and for the conversion of older debt will be repaid by equal or decreasing annual installments of the loan.
§ 3. furnished Loan period The maturity of loans for capital purposes may not be longer than is advisable from låneobjektets life.
The first installment of loans for capital purposes shall, no later charged year after the loan object acquired or adopted by business.
Loans for liquidity purposes can not have longer maturities than one year, however, the loan is redeemed when the annual accounts terminated. Loans by accounting losses can be repaid over the same period deficit to be covered.
§ 4. Foreign currency loans Loans for capital purposes, conversion of older debt and liquidity purposes are recorded in Norwegian kroner.
The Ministry may in special cases grant exemptions from the requirement in the first paragraph.
§ 5. Implementation These regulations come into force as of 1 January 2000.
