Specifically, it calls for quarterly reports by the Central Bank to the Board, and an annual report from the Minister of Finance to the Parliament. In addition, the Annual audited accounts of the Fund are to be laid in Parliament. Best practices require that some or all of these reports are made public.
The Norwegian Fund is cited as an example of best practice in disclosure and transparency. As a practical matter, we will have to build the capacity and infrastructure to deliver this level of transparency over time. What are the next steps? •  With the passage of the HSF legislation, the HSF account has been formally established.