Norid, the domain name registry for Norway (.no), has a page on their site about co.no which is worth reading.
While most of it is “normal” ie. co.no is a domain and subdomains off it are being sold etc., etc., what is vaguely worrying is the last part of the page:
The domain co.no is on a “prohibited/reserved”-list (Appendix A in the domain name policy). This means that while the current holder will not lose their registration, they cannot transfer the domain to another holder. If the current holder ceases to exist or the domain is deleted for any other reason, the domain co.no will be put on hold and not released for new registrations.
So what does this mean if you register a .co.no and the current owner / holder of the domain gets hit by a bus? Or, as it’s a company, they go bankrupt?
(Thanks to Peter Larsen for the link)