Norway: revised corporate governance code

In December 2007, a revised edition of the Norwegian Code of Practice for Corporate Governance was published.  This new edition further strengthens the role of independent directors and provides: "The composition of the board of directors should ensure that it can operate independently of any special interests.  The majority of the shareholder-elected members of the board should be independent of the company's executive management and material business contacts.  At least two of the members of the board elected by shareholders should be independent of the company's main shareholder(s)".

A copy of the revised Code is available here.