Independent agency
The Competition Authority is an independent agency with a separate Board of Directors. The 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, No. 759/2005, which include provisions on what constitutes major decisions.
The Board of Directors is constituted as follows:
Rögnvaldur Jóhann Sæmundsson, Associate Professor and Director of Research & PhD Program.
Jóhann R. Benediktsson, District Commissioner at Keflavik International Airport.
Inga Jóna Jónsdóttir, M.Sc.
Alternate members are the following:
Eyvindur G. Gunnarsson, Court Attorney.
Guðný Hrund Karlsdóttir, Economist.
Áslaug Árnadóttir, Temporary undersecretary at Ministry of Business Affairs
Director
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 appoints the employees of the Authority.
The Director of the Competition Authority is Páll Gunnar Pálsson.
The Assistant Director is Gudmundur Sigurdsson.
The Assistant Director is Ásgeir Einarsson.