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The Ministries’ administration of the State’s proprietary interests in companies, banks, etc. - Document no 3:2 (2002-2003)

Document no. 3:2 (2002-2003), which the Office of the Auditor General submitted to the Storting on 8 November, provides information about the Office of the Auditor General’s monitoring of the ministers’ (ministries’) administration of the State’s proprietary interests in companies, banks, etc. in 2001.
Published 11/8/2002 1:00 PM

The Office of the Auditor General’s audit covered 30 wholly owned limited liability companies, 33 partly owned limited liability companies, six state-owned enterprises, five regional health enterprises, eight bodies organised through separate legislation and 26 student welfare organisations. The Office of the Auditor General also informed the Storting about various factors concerning the following ministries’ administration of State interests: the Ministry of Health, the Ministry of Justice and the Police, the Ministry of Local Government and Regional Development, the Ministry of Agriculture, the Ministry of Trade and Industry, the Ministry of Petroleum and Energy, the Ministry of Transport and Communications and the Ministry of Education and Research. The report also contains a general presentation of facts about all the agencies that are wholly owned by the central government.

Partly owned companies are discussed in the document in cases where the results of the audit provide grounds for comment or information from the Office of the Auditor General. For 2001, the Office of the Auditor General has informed the Storting about matters linked to the ministers’ administration of the State’s interests in partly owned companies organised under the following ministries: the Ministry of Justice and the Police, the Ministry of Local Government and Regional Development, the Ministry of Agriculture, the Ministry of Trade and Industry and the Ministry of Petroleum and Energy.

Sale of the State’s shares

The Storting was informed about several matters linked to the sale of shares in the National Centre for Veterinary Contract Research and Commercial Services (VESO) pertaining to: the agreement with the co-ordinator / consultant, reporting of information to the Storting, the price achieved for the shareholding, extension of the deadline and use of verbal agreements. The Storting was notified about the share price achieved in connection with the sale of 66 % of the State’s shares in Arcus. Further, the Storting was informed about the role played by the chairman of the board of directors in connection with the sale of Norwegian Medicinal Depot (NMD). The report also discusses the bonus shares in Statoil ASA.

Inadequate compliance with Section 22 of the Financial Management Regulation for the Central Government

There are insufficient guidelines for Enova SF, Industritjeneste AS and Instrumenttjenesten AS. No requirements have been laid down concerning yield and dividend policy for the individual companies under the Ministry of Trade and Industry.

 

This report is available in Norwegian on the Office of the Auditor General’s website – www.riksrevisjonen.no – or can be ordered from the University bookshop Akademika, tel. +47 22 11 67 70.



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