The Norwegian Corporate Governance Board (NCGB)

The Norwegian Code of Practice for Corporate Governance (the “Code of Practice”) is issued by the Norwegian Corporate Governance Board (NCGB). NCGB considers each year whether a revised version of the Code of Practice should be issued. Matters that will require a revised version include changes in legislation and regulations as well as experience gained from the use of the Code of Practice. NCGB also takes into account international changes in this area. Each autumn, NCGB organises a conference, the “Corporate Governance Forum” to report on its work and contribute to the debate on corporate governance. In addition, NCGB strives to improve awareness of the Code of Practice both in Norway and internationally. For further information, see www.nues.no.

This Code of Practice is a revised version of the Norwegian Code of Practice for Corporate Governance issued on 21 October 2009. Comments on the changes made in this version can be found in the section “Changes since the last version of the Code of Practice” on page 7.

Attorneys Arne Didrik Kjørnæs, Sigurd Opedal and Per Anders Sæhle of the law firm Wikborg Rein assisted with checking the Code's references to current legislation.

The Code of Practice is published with financial support from the Financial Markets Fund.

Any questions or comments in respect of the Code of Practice can be submitted to info@nues.no

The following organisations are members of NCGB:

 

Organisation	Representative	Deputy representative
Norwegian Shareholders Association Norwegian Institute of Public Accountants Institutional Investor Forum   Finance Norway Norwegian Society of Financial Analysts Association of Private Pension Funds Confederation of Norwegian Enterprise Oslo Børs Norwegian Mutual Fund Association	Bernt Bangstad Per Hanstad Hans Thrane Nielsen Stein Sjølie Dag Erik Rasmussen Rolf Skomsvold Ingebjørg Harto Elisabeth Dyvik Lasse Ruud	John Peter Tollefsen Harald Brandsaas Trond Søyland Catharina Hellerud Christer Drevsjø Halvor E. Sigurdsen Lars J. Braarud Bernt Zakariassen

The Board is chaired by Ingebjørg Harto. Secretariat services for the Board have been provided by Attorney Christoffer Bergene of Oslo Børs.

¹ The members of the Institutional Investor Forum are ABN AMRO Kapitalforvaltning, DnB NOR Kapitalforvaltning, Folketrygdfondet, KLP, Nordea Fondene, Odin Forvaltning, Oslo Pensjonsforsikring, the Ministry of Trade and Industry (Department of Ownership), Statoil Kapitalforvaltning and Storebrand. ² Finance Norway and the Confederation of Norwegian Enterprise also represent the Næringslivets Aksjemarkedsutvalg. These two organisations are members of the Næringslivets Aksjemarkedsutvalg together with the Federation of Norwegian Commercial and Service Enterprises and the Norwegian Shipowners’ Association.