All posts in EU/EEA and Competition

Financial District

Clarification on the mandatory merger filing obligation in the transition to new turnover thresholds in the Competition Act

According to the current Competition Act concentrations shall be notified to the Norwegian Competition Authority (“NCA”) if the undertakings concerned have a combined annual turnover in Norway exceeding NOK 50 million, and at least two of the said undertakings have an annual turnover in Norway exceeding NOK 20 million. From 1 January 2014 the turnover thresholds will be increased to NOK 1 billion (approximately 128 million euro) and NOK 100 million (approximately 12.5 million euro) respectively.

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Norwegian politics take a turn to the right with new rightwing coalition government – new possibilities for many market players

On October 16, Norway’s Conservative Party leader Erna Solberg and Progress Party leader Siv Jensen presented a new minority goverment after winning the September 9 election with support from allies in the Parliament. The government took office on 12 noon October 16, with Solberg as Prime Minister and Jensen as new Minister of Finance. The coalition has presented a 75-page platform revealing how it plans to rule Norway over the next four years. Some highlights of particular interest for foreign market players are presented below.

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The Ministry of Finance suggests the establishment of a public debt register

On 27 September, the Ministry of Finance suggested to establish a Norwegian public debt register. The purpose is to prevent debt problems among indivudual borrowers in Norway.

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The Ministry of Finance introduces a new collective retirement pension product for the private sector

On 4 October, the Ministry of Finance presented a draft Bill with a new collective tax favourable retirement pension product for the private sector. The new product will be a third alternative to the two other (main) types of tax favourable occupational pension schemes that can be established under Norwegian law.

Storting in Norway

AIFMD Update – Norwegian implementation further delayed

Norwegian authorities failed to implement AIFMD within the transposition deadline of 22 July 2013. While it has been generally believed that AIFMD would be implemented within 1 January 2014, sources within the Ministry of Finance have unofficially informed us that the Bill will not be suggested until (late) 1Q 2014.

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Report from the Norwegian Competition Authority: Car owners freedom to choose repair shops restricted by misleading, contradictory or unclear warranty conditions

In the report “Your car – your choice of auto repair shop” (“Din bil – ditt verkstedsvalg”) the Norwegian Competition Authority has obtained and looked into the warranty terms from […]

Competition

Illegal bid rigging or lawful project agreement?

In June 2012, The Norwegian Competition Authority (“NCA”) announced a draft on new guidelines regarding tendering and project agreements. Several competition lawyers have questioned whether the draft guidelines are expressing an incorrect interpretation of Section 10 of the Norwegian Competition Act (equivalent to Article 53 of the EEA Agreement and TFEU Article 101). The guidelines are yet to be adopted, which may indicate that the NCA will await the outcome of a case pending in the Norwegian court system.