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Norway – Deadlines for new Gender Representation Requirements
At the start of 2024, Norway expanded gender representation legislation to include private limited liability companies, partnerships, co-operatives, and foundations of a certain size. Previously this requirement only applied to public liability companies and state-owned enterprises
Under this new legislation, all corporate entities must have minimum 40 % of each gender represented in the board.
The law is being rolled out in five stages with deadlines dependent on the size of the company.
| By the 31st of December 2024 | Companies with more than NOK 100 million in total operating and financial revenues |
| By the 30st of June 2025 | Companies with more than 50 employees |
| By the 30th of June 2026 | Companies with more than 30 employees |
| By the 30th of June 2028 | Companies with total operating and financial revenues exceeding NOK 50 million |
After the transition period, the requirement must be met no later than one month after the first subsequent Annual General Meeting
The risk of non-compliance
Failure to comply with gender representation requirements could result the Company’s board of directors being unable to validly exercise its functions and authority under the Companies Act.
Companies that neglect to file documentation with the Norwegian Register of Business Enterprises may be compulsorily dissolved.
How Mercator can help
We can evaluate Company’s current board composition and determine if it aligns with the appliable regulations.
Additionally, we may help you to identify the appropriate deadlines and ensure that changes made align with the AGM schedule.
Finally, we can prepare the necessary documentation and assist with the necessary filings with authorities.
