Holding Restrictions – Investment Funds – Norway

29.06.2018

Restrictions on customers

For open-ended investment funds, there are no general restrictions on customer residency.

For closed-ended investment funds, only a foreign shareholder is allowed to register its shareholdings through a nominee (such as CBL). A foreign shareholder may be:

  • a company registered in a foreign country, except when the company’s head office is situated in Norway; or
  • a foreign national who is not a resident of Norway.

It is the responsibility of the customer to ensure compliance with the restriction.

Certain funds may impose specific restrictions on investor domicile. Customers must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.

Restrictions on settlement

There is no general restriction on settlement, however certain funds may impose specific settlement or transfer restrictions. Customers must refer to and abide by the restrictions (if any) contained in the fund prospectus before entering into transactions.

Disclaimer

CBL believes the information contained in the Holding Restrictions to be correct at the time of the present publication but disclaims any responsibility as to the accuracy and completeness of the information. In the case of discrepancy between the information provided by CBL and the local laws and regulations, the latter shall prevail. The Holding Restrictions do not constitute legal advice and customers should seek advice from independent professional counsel.

Customers are responsible for ensuring compliance with the restrictions and agree to indemnify and hold harmless CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.