WORLD TRADE S/C/N/64
23June1997
ORGANIZATION(97-2584)
Original: English Council forTrade inServices
NOTIFICATION PURSUANT TOARTICLE III:3OFTHE
GENERAL AGREEMENT ONTRADE INSERVICES
Thefollowing notification hasbeenreceived from thedelegation ofNorway.
_______________
1. Member notifying:
Norway
2. Notification under:
Article III,paragraph 3,oftheGeneral Agreement onTrade inServices (transparency).
3. Date ofentry intoforce:
1July1996
4. Agency responsible forimplementation andenforcement ofthemeasures:
TheRoyal Ministry ofFinance andCustoms
5. Description ofthemeasures:
Financial institutions
Reference ismade toNorway 'sSchedule ofSpecific Commitments annexed totheSecond
Protocol totheGATS, Sector 7B,limitations onmarket access column, mode 3.
Actof28June1996onestablishment inNorway offinancial services suppliers situated outside
theEEAallows forestablishment inNorway ofbranches ofbanks, financing undertakings, securities
brokeragefirmsandmanagementcompaniesforcollectiveinvestmentfunds.Suchestablishmentrequires
permission bytheNorwegian Banking Insurance andSecurities Commission. Toobtain suchpermission
thefinancial services supplier musthavepermission toprovide equivalent services initshome state
andbesubject toprudential supervision there.
./.S/C/N/64
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6. Members affected:
None
7. Thetexts areavailable from:
TheRoyal Ministry ofFinance andCustoms
P.O.Box8008 Dep.
0030 Oslo
Norway