Reservations by Norway Sample Clauses

Reservations by Norway. Sector: All sectors Sub-sector: - Level of Government: National Legal source or authority of the measure: Companies Act of 13 June 1997 No 44 (aksjeloven) and Joint Stock Public Companies Act of 13 June 1997, No 45 (allmennaksjeselskapsloven) Succinct description of the measure: The general manager in a joint stock company and at least half of the members of the board of directors and of the corporate assembly must be residents of Norway. The residency criteria do not apply to nationals of an EEA Member State who are permanent residents of one of these States. The Ministry of Trade and Industry may grant exemptions from this provision. Sector: Power and Energy sector Repair of Transport Equipment sector Sub-sector: - Level of Government: National and Sub-national Legal source or authority of the measure: Not Applicable Succinct description of the measure: All activities in the power and energy sector as well as in the repair of transport equipment sector shall be treated as services under this Agreement. Sector: Real estate Sub-sector: Secondary residences Level of Government: National Legal source or authority of the measure: Concessions Act of 31 May 1974, No. 19 Succinct description of the measure: Acquisition or leasing of secondary residences by non-residents is subject to a concession. Sector: Fishing and fish processing Subsector: - Level of Government: Legal source or authority of the measure: Regulation of Participation in Fishing Act of 16 June 1972, No 57 Economic Zone Act of 17 December 1976, No 91 The Fishing Limit Act of 17 June 1966, No 19 Succinct description of the measure: A concession to acquire a fishing vessel or share in a company which owns such vessels can only be given to a Norwegian citizen or a body that can be defined as a Norwegian citizen. A company is regarded as having equal rights with a Norwegian citizen when its main office is situated in Norway and the majority of the Board, including the Chair of the Board, are Norwegian citizens and have stayed in the country the last two years. Norwegian citizens also have to own a minimum of 60% of the shares and have to be authorised to vote for at least 60% of the votes. Ownership to the fishing fleet shall be reserved for professional fishermen. To obtain the right to own a fishing vessel, one has to have a record of active, professional fishing on a Norwegian fishing boat for at least three of the last five years. It is prohibited for other persons than Norwegian nationals or com...
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