Iceland’s MPs to Register Financial Interests Skip to content

Iceland’s MPs to Register Financial Interests

By Iceland Review

The primary committee of Iceland’s Althingi parliament accepted on Monday regulations on the registration of financial interests of MPs and their commissions of trust outside parliament.

According to the regulations, the office of Althingi must keep a record of such matters, which will be made public, Morgunbladid reports.

Inside Althingi. Copyright: Icelandic Photo Agency.

Financial interests include employment income outside parliament, assets apart from their own house or apartment, financial agreements with former or prospective employers and financial support received from domestic and foreign parties.

MPs will also be obligated to register presents and travel to foreign destinations. Furthermore, they must reveal their debts to ensure that if they enjoy any fringe benefits it will be publicly known.

If MPs have a seat on the boards of companies or hold other commissions of trust for parties of interest, they must report these positions.

The regulations will take effect as such on May 1, but reviewed before December 1 this year, when they are scheduled to take legal effect.

The regulations apply to all MPs who have had a seat for four continuous weeks in parliament or longer, also including alternate MPs and ministers.

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