Aksjeselskap
{{Short description|Norwegian form of a private company with limited liability}}
{{Italic title}}
{{expand Norwegian|topic=|otherarticle=Aksjeselskap|date=October 2018}}
{{Use dmy dates|date=January 2024}}
{{Corporate law|other}}
{{lang|no|Aksjeselskap}} is the Norwegian term for a stock-based company.{{cite web |url=http://www.snl.no/aksjeselskap |title= aksjeselskap |last=Knudsen |first=Gudmund |date=4 March 2009 |publisher=Store Norske Leksikon |language=no |access-date=6 August 2009}} It is usually abbreviated AS, historically often written as A/S. An AS is always a limited company, i.e. the owners cannot be held liable for any debt beyond the stock capital. Public companies are called {{lang|no|allmennaksjeselskap}} (ASA), while companies without limited liability are called {{lang|no|ansvarlig selskap}} (ANS).
All AS companies must have a stock capital of at least NOK 30,000. In addition, they must have a board of directors, depending on the size of turnover, balance sheet total or number of employees, an auditor. They may appoint a managing director (MD) or chief executive (CEO). If the company has assets exceeding NOK 3 million, the board must have at least three members and cannot be chaired by the MD/CEO.{{cite web |url=http://www.bedin.no/php/d_emneside_eng/cf/hApp_102/hPKey_1529/hDKey_2 |title=Business with Limited Liability |publisher=Ministry of Trade and Industry |date=27 October 2011 |access-date=30 November 2011 |archive-url=https://web.archive.org/web/20111217001249/http://www.bedin.no/php/d_emneside_eng/cf/hApp_102/hPKey_1529/hDKey_2 |archive-date=17 December 2011 |url-status=dead }} Practically all Norwegian companies have a fiscal year from January to December, but some foreign subsidiaries may have a different fiscal year, as is allowed, to match the parent corporation.
The ASA differentiates from the {{lang|no|aksjeselskap}} in that it has rules regulating its ownership. There cannot be any rules limiting the company's ownership to certain interests, and an ASA must offer a public tender to purchase stock, either new stock or from existing owners if the company is converted from an AS. Norwegian companies, both those listed on a stock exchange and banks, must be ASAs (banks, however, are exempt from certain regulation including ownership regulation). An ASA is required to have a capital of NOK 1 million; a board with at least 40% of its members from each gender as well as an auditor.