New National Security Law introduces the control of acquisitions on the basis of national security considerations
The new National Security Law adopted in June 2018 introduces the control of acquisitions of businesses that process classified information or perform activities crucial to basic national functions or possess or manage information, information systems, objects or infrastructure essential for basic national functions. The ownership control is triggered, when at least 1/3 of the share capital is transferred or a buyer gains influence over the management of a company. An acquirer is obliged to notify the competent authorities.If the acquisition poses a national security risk, the takeover shall be suspended or additional conditions for the deal shall be introduced.
Type: Entry and establishment (Ownership and control, Approval and admission)
- Stortinget, Decree on the National Security Act (Security Act), Jun 01, 2018