Reference is made to the EFTA Surveillance Authority
Decision of 3 December 1998 regarding the Norwegian Government"s
financing of the Arcus group of companies.
The Norwegian Government will carry out the
corrective measures as laid down in the Authority"s decision.
However, this does not imply that the Government shares the assessments
made by the Authority concerning all the different aspects of the
decision.
The corrective measures will be implemented
in accordance with procedures and provisions of Norwegian law in
the following manner:
– I the
state budget for 1999 it is anticipated a withdrawal of NOK 200
million in extraordinary dividend from Arcus for 1998. The decision
on dividend payment is expected to be made by the General assembly
for Arcus AS in accordance with the Norwegian company act. This
will cover the recovery claims stated in corrective measures b), c),
d) and e) of the Authority"s decision.
– With regard to the corrective
measure a) in Authority"s decision claiming the recovery
of NOK 264 million, the above mentioned decision on dividend payment
will cover a part of the recovery claim. Respecting the remaining
amount, the Government will request Arcus AS to propose to the General
assembly a writing up of the values of Arcus" fixed assets
in accordance with the Norwegian company act and accounting act.
A corresponding writing up of the share capital must also be done
in accordance with Norwegian law.
The Norwegian Government will submit further information
to the EFTA Surveillance Authority as soon as the described measures
are adopted by the General assembly of Arcus AS.