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Corporate Governance - 2010

August 2010 - Corporate & Commercial. Legal Developments by Kluge Advokatfirma DA.

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Sources of corporate governance rules and practices

1 Primary sources of law, regulation and practice

What are the primary sources of law, regulation and practice relating to corporate governance?

The scope of the corporate governance obligations in law, regulation and practice differs depending on the form of incorporation and on whether or not the company is listed. We will limit our response to private and public limited companies, both listed and unlisted. The primary sources of law relating to corporate governance are the Private Limited Companies Act, the Public Limited Companies Act and the Securities Trading Act. The Financial Supervisory Authority (Finanstilsynet) has issued further regulations under the Securities Trading Act. Furthermore, the Stock Exchange Rules set by Oslo Stock Exchange (Oslo Børs ASA) apply to listed companies. The Stock Exchange Rules encompass Listing Rules (rules for admission to listing) and Continuing Obligations (continuing obligations of listed companies).

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First published in Getting the Deal Through – Corporate Governance 2010. www.gettingthedealthrough.com