Regulations for Norway Post

Adopted: 01.07.2002 Last modified: 13.12.2011

 §1

The Company's name is Norway Post

§2

The Company's registered office is in Oslo.

§3

Norway Post is a limited company wholly-owned by the Government and shall contribute to fulfilling the purpose of the Norwegian Postal Service Act.

The Company's social responsibility is to ensure the nationwide operation of delivery services in a proper and cost-effective manner. The Company's social responsibility is described in Norway Post's licence.

The Company shall run postal and logistic operations on a commercial basis as well as other activities directly related to this. Activities can be run by the Company itself, by wholly-owned subsidiaries or through other companies in which it has ownership interests or with which it cooperates.

The Company shall carry out the tasks imposed upon it through legislation and licence requirements or through decisions passed by the General Assembly.

§4

The Company's share capital is MNOK 3 120 divided into 3 120 000 shares each with a nominal value of NOK 1000.

§5

The Board of Directors shall consist of between seven to ten members.

Five of six board members including the Chairman of the Board and Vice Chairman are nominated by the General Assembly. Board members serve for a two year term.

§6

Two or three board members with deputies are directly nominated by and from the employees in accordance with the rules of the Companies Act with related regulations. If an agreement has been made not to have a corporate assembly, as permitted by §6-35 second paragraph of the Companies Act, the employees shall, in accordance with §6-4 third paragraph, nominate one board member with deputy or two observers with deputies in addition to the representation detailed in the previous point.

§7

The Chairman of the Board and one board member together are the joint formal signatories of the Company.

§8

The Board of Directors appoints the Company's CEO and determines the terms of employment in this regard.

The Board of Directors shall determine guidelines for the Company's CEO.

The Board of Directors shall draw up a plan for its own work and to develop its own competence.

Each year the Board of Directors shall evaluate its work and competence.

The Board of Directors shall ensure that satisfactory systems are in place for undertaking internal control procedures on the Company's activities and that risk assessments are regularly carried out with related preventive and emergency measures.

The Board of Directors shall ensure that the company fulfils its corporate social responsibility commitments.

The Board must prepare a statement concerning determination of salaries and other benefits for senior management. This is included as a note in the annual accounts. The statement must have the content specified in Section 6-16a of the Public Limited Liability Companies Act, and must be processed in the equivalent manner in the company's Annual General Meeting. We refer to Section 5-6, subsection 3 of the Public Limited Liability Companies Act.  

§9

The ordinary general meeting is to be held at the end of June each year. The following issues shall be addressed and decided at the ordinary general meeting:

  1. The approval of the annual financial statements and annual report including the distribution of dividend.
  2. Other issues that are to be heard during the ordinary general meeting in accordance with laws or regulations.

§10

The Board of Directors shall present cases of social importance or matters of principle to the Minister for Transport and Communication.

The Board of Directors shall provide written information about measures and results concerning the Company's social mission and social responsibility.

Every second year the Board of Directors shall provide a written report concerning the overall plans for the Group’s business, including economic development in recent years and an assessment of economic development for the duration of the plan to the Minister for Transport and Communication.

The Board of Directors shall provide details of significant changes in such plans that have previously been submitted to the Minister for Transport and Communication.

§11

The principles of the act concerning the use of Bokmål and Nynorsk in public services (målbrukslova) shall be followed for customer-oriented information on the statutory services provided by the Company. Otherwise the principles of the act shall be followed as far as possible but only as far as they do not represent any disadvantage to the Company compared with its competitors.