On 1 February 2025, a new regulation regarding access to shareholder registers and information about nominee-registered shares in Norwegian companies entered into force. These rules elaborate on companies' statutory obligation to make the shareholder register available to everyone, and the new rule in the Norwegian Public Limited Liability Companies Act on the right to request information about owners of nominee-registered shares.

Since 1 November 2021, legal entities have been required to identify and maintain documented, up-to-date information about their ultimate beneficial owners (UBOs). As of 1 October 2024, Norwegian entities must also register their UBOs in the Brønnøysund Register pursuant to the Norwegian Act on the Beneficial Owners Registry. This means that entities must report who ultimately controls and/or owns the entity to the authorities. There is a phase-in period of 10 months, with the final registration deadline being 31 July 2025. After this date, companies that fail to register may be subject to coercive fines.

New and extended gender quota regulations to the board of directors of Norwegian private limited liability companies are adopted. Until now, gender quota regulations have applied only for listed public limited liability companies and state owned companies. The newly adopted regulation, which shall also apply to inter alia certain partnerships, co-operatives and foundations, significantly broadens the scope of gender quota mandates.

The Norwegian Government has recently proposed extending gender quota regulations to the board of directors of certain Norwegian private limited liability companies.

On 1 July, the requirements for citizenship for board members and the CEO set forth in the Norwegian company legislation were removed. Now, only a residency (domicile) requirement applies. The requirement is that the CEO and at least half of the board members must reside in an EEA country, in the UK/Northern Ireland or in Switzerland.

Companies with listed shares are required to publish notices of general meetings in due time prior to the meetings, and it is therefore important to start the planning well in advance.

Sustainability, climate and environment

Dispute Resolution

Company Law

Partner, Ph.D.

Hedvig is head of the firm's Company law practice group and advises on private M&A-transactions (mergers, acquisitions, reorganizations), and on day-to-day company law matters, including all kinds of company law - and corporate governance questions and incentive programmes.

Hedvig's practice also includes dispute resolution regarding company law matters (shareholders' conflicts, board of directors liability, etc. 

She has a doctorial degree (Ph.D.) in Company Law from the University of Oslo, and has written several books and articles concerning Company Law.

Oslo

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Hedvig is head of the firm's Company law practice group and advises on private M&A-transactions (mergers, acquisitions, reorganizations), and on day-to-day company law matters.