Statsforetak
Encyclopedia
Statsforetak or SF, meaning State Enterprise is a type of company
in Norway
. SFs are wholly owned by the Government of Norway, but it does not hold limited liability
in the company. The government is free to convert any aksjeselskap
(limited company) that it owns, or any other assets, to an SF, without approval by other parties.
The companies do have a board of directors
and a managing director. The board must have at least three members; five if there is employee representation. The managing director can not sit on the board. All SFs must have an auditor.
converted some of the SFs to limited companies, including Statkraft
(the state power company).
Some Statsforetaks:
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
in Norway
Norway
Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...
. SFs are wholly owned by the Government of Norway, but it does not hold limited liability
Limited liability
Limited liability is a concept where by a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership with limited liability. If a company with limited liability is sued, then the plaintiffs are suing the company, not its...
in the company. The government is free to convert any aksjeselskap
Aksjeselskap
Aksjeselskap is the Norwegian term for a stock-based company. It is usually abbreviated AS or A/S, especially when used in company names. An AS is always a limited company, i.e. the owners cannot be held liable for any debt beyond the stock capital...
(limited company) that it owns, or any other assets, to an SF, without approval by other parties.
The companies do have a board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
and a managing director. The board must have at least three members; five if there is employee representation. The managing director can not sit on the board. All SFs must have an auditor.
History
The SF was created by the State Enterprise Act of August 30, 1991 (#71). Initially there were few SFs, but gradually there were created more, mainly by converting government agencies to SFs. During the 2000s the Conservative/Christian Democrat/Liberal governmentSecond cabinet Bondevik
Bondevik's Second Cabinet governed Norway between 19 October 2001 and 17 October 2005. It was led by Kjell Magne Bondevik and consisted of the Conservative Party, the Christian Democratic Party and the Liberal Party. It had the following composition:...
converted some of the SFs to limited companies, including Statkraft
Statkraft
Statkraft is a Norwegian state owned electricity company. With a total energy production of 44.9 TWh in 2007, the Statkraft Group is the third largest energy producer in the Nordic region, as well as the largest energy producer based on renewable energy sources in Europe,consisting of 40% of the...
(the state power company).
Some Statsforetaks:
- GassnovaGassnovaGassnova SF is the Norwegian state enterprise for carbon capture and storage. Gassnova stimulates technology research, development and demonstration and contributes to the realisation of technology in industrial, full-scale pioneer plants...
- Enova SFEnova SFEnova SF is a Norwegian government enterprise responsible for promotion of environmentally friendly production and consumption of energy. Established in 2001, it is financed through government funding in addition to a tariff of 1 øre per kWh of electricity to consumers...
- SIVA SFIndustrial Development Corporation of NorwayThe Industrial Development Corporation of Norway or SIVA is a Norwegian state enterprise responsible for government investment in incubators, science parks, industrial parks and real estate through partial ownership of 150 companies...
- Statnett SFStatnettStatnett is a Norwegian state owned enterprise responsible for owning, operating and constructing the stem power grid in Norway. The company has its headquarters in Oslo, Norway....
- Statskog SFStatskogStatskog is a Norwegian state owned enterprise responsible for the management of state owned forest - and mountain real estate totalling approximately 20% of the area of Norway. About 5% of Statskog's land is productive forest while 80% is above the tree line...