Implications of Brexit in The Norwegian Companies Act
The UK formally withdrew from the EU and the EEA-agreement on 31 January 2020. The transition period during which the UK were to be treated as if it still were a member of the EU and part of the EEA-agreement, lapsed on 1 January 2021. The Norwegian Private Limited Liability Companies Act (the "Companies Act") has several provisions under which it is relevant whether or not a state is an EEA-state. Brexit will impact the applicability of certain provisions when there are British companies in Norwegian group structures and where British citizens serve as directors on the board or as general manager of Norwegian companies.