The Standing Committee on Finance and Economic Affairs has recommended changes to Norway's alternative investment fund law to implement EEA rules corresponding to EU regulation 2023/606 on European long-term investment funds (ELTIF 2). The committee argues that the revision aims to make these funds more attractive to investors through greater flexibility and reduced regulatory burden, and recommends the Storting adopt the bill.
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Section 1a-3 shall read: § 1a-3. Implementation of the ELTIF regulation (1) EEA Agreement Annex IX regulation (EU) 2015/760 (on European long-term investment funds (ELTIF regulation)), as amended by regulation (EU) 2023/606, applies as law with the amendments and additions that follow from Annex IX, Protocol 1 to the Agreement and the Agreement as a whole. (2) When this law refers to the ELTIF regulation, it means the regulation as implemented and amended from time to time under the first or third paragraph. (3) The Ministry may issue supplementary regulations to this provision and may in regulations make amendments to, including establish exceptions from, the provisions implemented in the first paragraph to fulfill Norway's obligations under the EEA Agreement. (4) The Ministry may in regulations establish detailed rules on non-cooperative jurisdictions for tax purposes as referred to in regulation (EU) 2015/760 article 11.
The law shall enter into force at such time as the King determines.
The Ministry may issue transitional rules.