The decisions of the Competition Authority may be appealed to an independent committee, the Competition Appeals Committee. A written and reasoned appeal must be received by the Committee within four weeks from the time that the party in question was informed of the decision of the Competition Authority. According to the Competition Act, the decision of the Competition Appeals Committee shall be made available within six weeks from the date of appeal. However, an appeal will not postpone the effect of decisions of the Competition Authority.
The Competition Appeals Committee is composed of three members, with three alternates, appointed by the Minister of Commerce following nomination by the Supreme Court. The chairman and his or her alternate, who shall also serve as vice-chairman, shall meet the conditions for qualification as Supreme Court judges, but the other members shall possess professional expertise in the field of competition and business. The term of the appointment of the Competition Appeals Committee shall be the same as that of the Board of Directors of the Competition Authority.
Appeals to the Appeals Committee should be sent to the following address:
Competition Appeals Committee
P.O. Box 347
121 Reykjavík