The Competition Authority is an independent agency with an independent Board of Directors. The Competition Authority reports to the Minister of Commerce.
The Competition Authority is included in the fixed allocations section of the State Budget and its operating costs are paid out of the State Treasury.
Board of Directors
The Board of Directors of the Competition Authority is composed of three members appointed by the Minister of Commerce for a term of four years at a time. Three alternates are appointed in the same manner. The Minister appoints the Chairman of the Board and decides on the remuneration of the members of the Board.
The role of the Board of Directors is to establish priorities in the work of the Competition Authority and monitor its activities and operation. Major material decisions must be submitted to the Board for approval or rejection. The Board of Directors has established its own rules of procedure, Rules No. 759/2005, with provisions on what defines major decisions.
The Board of Directors is constituted as follows from August 26th 2013:
Guðrún Ragnarsdóttir, Chairman
Eyvindur G. Gunnarsson
Ásta Dís Óladóttir
Alternate members are the following:
Mr Runólfur Þór Sanders, M.Sc. in Corporation Finance.
Jóhanna Katrín Magnúsdóttir
Ingvi Már Pálsson
The Director of the Icelandic Competition Authority
The Director of the Competition Authority is appointed by the Board of Directors of the Authority. The Director is in charge of the day-to-day activities and running of the Authority. The Board of Directors decides the terms of employment of the Director and his/her terms of reference. The Director hires the employees of the Authority.
Mr Páll Gunnar Pálsson is the Director of the Competition Authority.
Mr Guðmundur Sigurðsson and Mr Ásgeir Einarsson are Deputy Directors.