The Business Sector's NOx Fund is registered as an association in the Central Coordinating Register for Legal Entities at the Brønnøysund Register Centre.
The Fund's statutes provides information on rights and obligations. The statutes shall contain procedural rules that govern the Board’s work, including decisions relating to allocations of support from the NOx Fund. The Fund's statutes shall secure the Fund a high degree of legitimacy, credibility and transparency while taking care to ensure that competition-sensitive information is not lost or disclosed to unauthorised individuals. The Fund is subject to the internal control requirements stipulated in the Audit and Auditors Act.
The Full Cost Principle
The Fund shall be managed in accordance with the full cost principle (non-profit), i.e. all the financial means which the Fund receives will be utilised in accordance with its purpose of reducing NOx emissions in a cost-effective manner with the exception of necessary administrative costs. In the event of dissolution of the Fund, the capital shall be spent on NOx reducing measures in accordance with the Fund’s purpose. In the event that a signatory should be forced to withdraw from the Fund due to neglect or non-fulfilment or similar reasons, the contributed funds will not be refunded.
Board members are as follows:
|Erling Øverland||The Confederation of Norwegian Enterprise|
|Jan Ivar Maråk||The Norwegian Fishing Vessel Owners Association|
|Frode Sund||The Federation of Norwegian Coastal Shipping|
|Hildegunn T. Blindheim||The Norwegian Oil and Gas Association|
|Tor Christian Sletner||The Norwegian Shipowners' Association|
|Per Øyvind Langeland||The Confederation of Norwegian Enterprise|
|Kjell Ingebrigtsen||The Norwegian Fishermen's Association|
|Lawrence Falkeid||Coastal Shipowners|
|Marit Holtermann Foss||The Federation of Norwegian Industries|
|Svein Kamfjord||KS Enterprises|
The Tasks of the Board and the Functions of the Fund
The Board’s main task is to determine which measures shall receive support from the Fund, and how. Moreover the Board is responsible for determining the amount to be paid per kilo NOx emissions in to the Fund by participating enterprises. The rates for payments to the NOx Fund are set to NOK 11 per kilo NOx for the offshore industry, and NOK 4 for the other sectors (shipping, supply-vessels, fishing, industry and aviation, district heating etc.).
DNV GL are responsible for the processing of applications for support for NOx reducing measures from ships, the mainland industries and the offshore sector. DNV GL will give recommendations to the Business Sector’s NOx Fund regarding the prioritisation of measures in order to ensure the most cost effective use of the Fund’s financial means while ensuring that the individual measures with the highest effect are granted priority.
The Business Sector’s NOx Fund will actively inform and provide follow-up for the enterprises that signed the Agreement in order to give rise to the best possible measures as soon as possible. The Business Sector’s NOx Fund will give support to NOx reducing measures. Allocated support will be paid once the relevant measure have been implemented and documented.
The Business Sector’s NOx Fund will stimulate to increased competition and capacity within the NOx solutions market and spread information on promising technologies. Capacity barriers may thus be identified and measures suggested. Interaction and collaboration with Government Incentives are vital (Innovation Norway and the Research Council of Norway).
The NOx Fund will adjust its efforts in accordance with the legislation relating to competition and take precautions to ensure that competition sensitive information are not readily available on the market.