The name of the enterprise is Statnett SF.
Statnett SF is the operator of the transmission grid and the system operator of the Norwegian power system. The enterprise is responsible for operating and developing the transmission grid in a socio-economically efficient way.
On its own or in conjunction with others, Statnett SF is to plan, design, build, own and operate transmission infrastructure.
Statnett SF is to undertake the tasks incumbent upon it under the terms of legislation and licences. In other respects, Statnett SF is to operate on commercial principles.
The registered office of Statnett SF is in Oslo.
Statnett SF pertains under the Ministry of Petroleum and Energy.
The government's capital contribution to Statnett SF amounts to NOK 2,700 million.
The board of the enterprise shall as decided by the general meeting consist of from seven to nine directors and any deputy directors. The members are elected for a period of up to two years.
Two, or three, directors and any deputy directors therefore will be elected by and from the employees of the enterprise in accordance with the applicable rules of § 20 of the State Enterprises Act with pertaining regulations.
Power of signature for the enterprise is exercised by two directors jointly, one of whom shall be the board chairman.
The board shall prepare a declaration relating to the salary and other compensation due to senior management. This declaration shall be included as a note in the annual financial statement. The declaration shall have the contents provided for in § 6-16a of the Public Limited Companies Act, and shall be dealt with in the same manner by the ordinary general meeting. Reference is made to § 5-6 of the Public Limited Companies Act.
An ordinary general meeting shall be held each year before the end of June. General meetings are held in Oslo, or any other venue specified in the notice for the meeting. The ordinary general meetings shall consider and decide the following matters:
a) Adoption of Statnett SF's income statement and balance sheet, including the question of employing the year's profit or covering the year's loss.
b) Any other matter which pertain by law or these articles to the general meeting.
Statnett SF may not charge or put up as security the assets of the enterprise. However, this does not prevent Statnett from:
a) putting up security for banks and other financial institutions with respect to daily bank transactions, including trading with financial instruments and securities;
b) putting up ordinary security as a part of the daily operations of the enterprise, including short-term guarantees, vendor's fixed charge and purchasing and selling in organised marketplaces, etc.