In November 2010 it will become possible to register a .co.no domain name. This domain offers an alternative for .no domain names. However, this domain can be compared with the .co.nl extension. So it is not an official extension which will be released by the Norwegian registry, but an unofficial alternative for the .no extension released by the owner of the domain name co.no. This is also strongly emphasized by Norid (.no registry). Names registered under the .co.no domain have nothing to do with the registry and the registry itself isn’t responsible if something goes wrong with those names.
In November 2010 the sunrise for this extension will begin. During the sunrise, owners of a registered trademark get the chance to register this name under the .co.no domain. Later, the landrush and general availability will follow.
By using .co.no as a new extension it will become easier to register a ‘Norwegian’ domain name for individuals and businesses who previously did not qualify. Due to the strict rules for direct registrations under .no, it isn’t that simple to register such name. However some companies offer local presence under the .no extension which makes direct registrations under this extension not completely impossible for foreign companies.
Moreover, the Norwegian registry also cleary states that when the owner of the name co.no fails to fulfill his obligations to Norid, the domain name will be removed. This means that all subdomains under that name (and therefore all .co.no names) will be automatically removed. Moreover the name co.no is listed as a ‘reserved .no domain name’. This means that the name can never be transferred to another owner. The current owner of co.no is a Norwegian company which lends out this domain name to coDNS in the Netherlands. As this Norwegian company ceases to exist, it will be impossible for coDNS to keep the name co.no (and all .co.no domain names) active.
You can read the full statement of the Norwegian registry here.