Bill
concerning an Act relating to Eksportkreditt Norge AS (Export Credit Act)

Section 1. Purpose

The Act provides a framework for the establishment and operation of a Norwegian state-owned limited liability company for the purpose of managing a state scheme for financial services in connection with Norwegian export of capital goods and services. The company’s name shall be Eksportkreditt Norge AS.

Section 2. The company’s owner

The state shall own all shares in the company.

Section 3. The company’s activities

In order to promote the purposes referred to in section 1, the company may in its own name

• 1. provide state-financed export credits in accordance with international agreements and

• 2. provide loans on market-based terms as an alternative to loans as referred to in (1).

Further rules concerning export credits and loans that may be provided pursuant to the first paragraph may be issued by the Ministry by regulations.

Section 4. Financing of the company’s activities

The lending activities shall in their entirety be financed by fiscal budget allocations.

Funds for operation of the company shall be allocated by the state.

Section 5 The state’s liability

The state shall be liable for the obligations incurred by the company in connection with lending activities, but shall not be liable for obligations incurred in association with operation of the company. Claims against the state as referred to in the first sentence first sentence shall be addressed to the company.

Section 6. The Limited Liability Companies Act

The Act of 13 June 1997 No. 44 relating to limited liability companies shall apply to the company unless otherwise provided by the present Act.

Section 7. The authority of the board

Administration of the company shall be the responsibility of the board, which shall also ensure that the company is operated in accordance with provisions provided in or pursuant to statute and by the company’s bylaws and general guidelines laid down by the general meeting.

Matters assumed to be of material significance to the purpose of the company, or which may materially alter the character of the company or which may have material economic or social effects shall be submitted to the general meeting before decisions are made by the board. Further rules may be laid down in bylaws concerning which matters shall be submitted to the general meeting pursuant to the first sentence.

Section 8. The relationship to other legislation

The Act of 10 February 1967 relating to procedure in cases concerning the public administration shall not apply to the company’s activities.

The Act of 4 March 1983 No. 3 relating to Civil Servants, etc. and the Act of 18 July 1958 No. 2 relating to Civil Service Disputes shall not apply to the company.

The Act of 10 June 1988 No. 40 relating to financing activity and financial institutions shall not apply to the company, cf. section 1-3, first paragraph (1) of the Financial Institutions Act.

The Act of 4 December 1992 No. 126 relating to archives shall not apply to the company.

Section 9. Supplementary provisions

The Ministry may by regulations issue further provisions concerning lending activities and the company’s activities, including processing of loans, administration of the company’s funds, operation of the company including coverage of the company’s operating costs, and otherwise concerning compliance with the provisions of the Act.

Section 10. Commencement

The Act shall enter into force on the date decided by the King.