Independent agency

The Icelandic Coat of ArmsThe 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 April 11th 2023: 

  • Sveinn Agnarsson, Chairman
  • Katrín Helga Hallgrímsdóttir (resigned September 1st, due to other duties)
  • Hafsteinn Þór Hauksson

Alternate members are the following:

  • Ragnhildur Jónsdóttir
  • Helga Reynisdóttir

The General Director of the Icelandic Competition Authority

The General 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. 

Páll Gunnar Pálsson is the General Director of the Competition Authority
Ásgeir Einarsson is the Deputy Director of the Competition Authority