WORLD TRADE  
ORGANIZATION  TN/S/O/ISL/Rev.1 
14 June 2005 
 (05-2485) 
Council for Trade in Services 
Special Session  Original:   English 
 
  
ICELAND 
 
Revised Offer on Services  
  
 The following revised offer h as been received from the delegation of Iceland on 31 May 2005 
with the request that it be circulated to Members of the Council for Trade in Services. 
 
 
_______________ 
  
 
 At the July meeting in 2004, Members agr eed that revised offers in services should be 
submitted by May 2005.    Iceland hereby submits its revised offer in th e framework of the ongoing services negotiations 
under the General Agreement on Trade in Servic es (GATS) and in the context of the Doha 
Development Agenda (DDA).     The modifications to the consolidated Sche dule of Specific Commitments are inscribed as 
outlined in the editorial conventions contained in the following documents from the Secretariat; 
JOB(05)/6 and JOB(02)/88. 
 
 Consistent with GATS Article I.3, this offer does not include services supplied in the exercise 
of governmental authority.   Furthermore, pursuant to Article VI of the GATS, Iceland reserves the right to establish, 
maintain and fully exercise its national legisla tion in order to meet national policy objectives. 
  This offer is conditional upon satisfactory commitments being received from other negotiating partners.  Iceland reserves the right to withdraw, modify, extend or reduce this offer in 
whole or part, at any time prior to the conclusion of the negotiations.  Iceland further reserves the 
right to make technical amendments to this offe r and make corrections to rectify any errors or 
inaccuracies as well as to clarify and interpre t the terms and conditi ons of this offer.  TN/S/O/ISL/Rev.1 
Page 2 ICELAND – REVISED OFFER 
 
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
I. HORIZONTAL COMMITMENTS  
ALL SECTORS  INCLUDED 
IN THIS SCHEDULE    
 3) All foreign investment and  currency 
transfers must be reported to the Central Bank of 
Iceland for statistical purposes 
 
Service providers shall inform the Ministry of 
Commerce of investments made by non-
residents in business ent erprises in Iceland and 
the Central Bank of Iceland of investments 
made by non-residents in securities in Iceland. 
 
Investment by non -residents in the manufacturing 
industry, other than power -intensive industry, trade 
services, communications and fish farming may 
not exceed 25% of the tot al investment of the 
relevant sector without special permission.  3) Treatment accorded to subsidiaries of third-
country companies formed  in accordance with the 
law of an EEA Member State or an EFTA Member 
State  and having their regi stered office, central 
administration or principal place of business within 
an EEA Member State or an EFTA Member State 
may not  be extended to branches or agencies 
established in an EEA Member State or an EFTA 
Member State by a third-country company 
Treatment less favourable may  be accorded to 
subsidiaries of a third -country company formed in 
accordance with the law of an EEA Member State 
having only their registered office in the territory of 
an EEA Member State unless  if they show that they 
possess an effective and continuous link with the 
economy of one of the EEA Member States or an 
EFTA Member State 
  
 
 Total investment by a non -resident or the joint 
investment of financially related non -residents in 
enterprises in the above -mentioned sectors may not 
exceed 250 mill. ISK wit hin a year unless a special 
concession is given   
 
   TN/S/O/ISL/Rev.1
 Page 3Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
  
 
 
 All foreign investment of a Foreign State or 
companies/organizations owned by a Foreign State 
requires a special concession of the Ministry of Commerce The majority of founders of limited liability 
companies must be resid ent in Iceland unless 
exempted from this requi rement by the Ministry 
of Commerce.  Citizens of other EEA and EFTA Member States are exempted from the residency 
requirement 
 
Managers and the majority of the members of the 
board of directors in all domestic enterprises must 
be domiciled
 resident in Iceland unless exempted 
from this requirement by the Ministry of Commerce .  
Citizens of other EEA an d EFTA Member States 
are exempted from the residency requirement 
  
 Non-residents cannot conclude an agreement on 
real-estate lease without  the permission of the 
Ministry of Justice if the lease is for a period 
exceeding three years and not for use in conducting 
its normal business activities At least one of the audito rs of an Icelandic limited 
liability company must be a resident in Iceland or a competent resident CPA company  
 Non-residents may only acquire real estate in 
conjunction to their business activities and can 
only obtain ordinary proprietary rights linked to 
the real estate .  Non-residents are thus excluded 
from obtaining full property rights of real estate if 
unusual rights are linked to it, such as exploitation 
rights as regards waterfalls, geothermal energy, etc   
Non-residents may only acquire real estate in 
conjunction to their business activities and can only obtain ordinary proprietary rights linked to the real 
estate .  Non-residents are thus excluded from 
obtaining full property rights of real estate if unusual rights are linked to it, such as exploitation rights as 
regards waterfalls, ge othermal energy, etc 
  
 Contracts concerning ownership and long - 
term use of real -estate by non -residents are not 
valid until the Ministry of Justice has endorsed it in 
writing  
 Non
-residents, natural as well as legal persons, 
involved in trade  in goods or rental of videos, need 
a trade permit but such regulated trade licences are 
required  for both Icelandic and non -resident 
providers of service  Contracts concerning ownership and long- 
term use of real-estate by non-residents are not valid 
until the Ministry of Justice has endorsed it in 
writing 
   TN/S/O/ISL/Rev.1 
Page 4 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
 All provision of services by natural persons, as 
self-employed or taking part in a business 
enterprise with unlimited liability, needs a 
concession, by the Minist ry of Commerce, if the 
persons involv ed are non -residents  
  
 
 
 All sectors: Movement of 
personnel 
  Movement of Personnel
 
 Temporary entry of service providers 
  Movement of Personnel
 
 Temporary entry of service providers 
  
 
 4) Unbound except the temporary entry of 
the following service prov iders as intra-corporate 
transferees, which Iceland shall permit without 
requiring compliance with labour market tests: 
 
Executives :  persons who primarily direct the 
management of the organization covered by the 
agreement and establish its goals and generally 
have a wide decision-making authority. Executives would not necessarily perform tasks related to the 
actual provision of the service. 
 4) None for the categories offered under 
market access.   Unbound except for measures 
concerning the categories of natural persons 
referred to in the market access column. 
 
  
 Managers :  persons who direct the Organization 
covered by the agreement or its department and are 
in a senior level responsible of the service providing functions of the organization by 
supervising and controlling and having also 
authority to hire and fire personnel or recommend such and other personnel actions. 
  
 
 Specialists :  persons within the organization who 
possess knowledge at an advanced level of 
expertise or otherwise esse ntial or proprietal to the 
organization's service, research equipment, 
techniques or management. 
     TN/S/O/ISL/Rev.1
 Page 5Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
 Service sellers :  persons who as representatives of 
a service provider covered by the agreement are 
seeking temporary entry for purposes of 
negotiation for the sale of services or entering into agreements to sell serv ices for that service 
provider, where this selling activity is not directed 
to the general public.  
 
All sectors: Subsidies (The 
issue of a definition of subsidies remains to be 
determined in the context of 
negotiations under Article XV of the GATS).  Subsidies
1 
 3) None 
 
  
4) None  Subsidies
1 
 3) Eligibility for subsidies may be limited to 
juridical persons established within the 
territory of Iceland.  Subsidies related to research and development are unbound. 
4) Subsidies available only to natural  persons 
may be limited to Icelandic citizens. 
  
 
                                                 
 1 The definition of  subsidies remains to be determined in the co ntext of negotiations under Article XV of the GATS.   TN/S/O/ISL/Rev.1 
Page 6  
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
II. SECTOR SPECIFIC COMMITMENTS 
 
1. BUSINESS 
 SERVICES  
A. Professional 
 Services  
  
  
  
 
 Legal Services 
 ( Applicable parts 
 of CPC 861)   
    
- Legal advice 
activities on home 
country law 
 1) None  
2) None 
3) None    Members of the General  Bar 
Association of Iceland have an 
exclusive right to represent clients 
before courts in Iceland.  
4) Unbound except as indicated in the 
horizontal section.  Members of  the 
General Bar Associat ion of Iceland have 
an exclusive right to  represent clients 
before all the major courts in Iceland.  
  
2) None 
1),3),  Unbound 
  
 
4) Unbound except as indicated in  the 
horizontal section.   Icelandic law exam or 
an equivalent thereto, conditions of 
national ity, or previous residency of at least 
one year when practising legal services as a 
member of the General Bar Association in 
Iceland  
  
 
 - Legal advice on 
international law  and foreign legal 
consultancy 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
4) None 
  
   TN/S/O/ISL/Rev.1
 Page 7Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(b) Accounting, auditing 
and book-keeping 
services (CPC 862) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section. Requirement of 
 residence. Icelandic exam for 
 certified accountants required 
 subject to exemption by the 
 Minister of Finance.  
 1) None 
2) None 
3) None 
4) None    Icelandic exam for certified 
 accountants (CPA’s)  required or an 
 equivalent thereto  subject to 
 exemption by the Minister of 
 Finance . 
 
  
 
(c) Taxation services 
 (CPC 863) 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None  
(d) Architectural 
 services (CPC 8671) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
  
(e) Engineering 
 services (CPC 8672) 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
  
 
(f) Integrated  Engineering 
 services (CPC 8673) 1) None 
2) None 
3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3) None 
4) None 
   
 
(g) Urban planning  and 
landscape architectural services (CPC 8674) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None 
    TN/S/O/ISL/Rev.1 
Page 8 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(i) Veterinary services 
 (CPC 932)  1) None 
2) None 
3) None 
 4) Unbound except as indicated in the 
horizontal section.  Number of 
veterinarians in rural districts is limited. 
 1) None 
2) None 
3) Ability in the Icelandic language 
 required.  
4) Ability in the Icelandic language 
 required. 
  
(k) Other  1)  None  
2) None  
3) None  
4) Unbound except as indicated in the 
 horizontal section  
 1) None  
2) None  
3) None  
4) None     TN/S/O/ISL/Rev.1
 Page 9 
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
B. Computer and 
 Related Services  
    
(a) Consultancy 
 services related to 
 the installation of 
 computer hardware  (CPC 841) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(b) Software 
 development  
 (including software  implementation) 
 CPC 842) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
  
 
(c)  Data processing  services (CPC 843) 
 1) None 
 
 2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) Concession needed if personal-data 
 is to be processed outside Icelandic 
 jurisdiction 2) None 
3) None 
4) None   
 
(d) Data base services 
 (CPC 844) 
 
  
 
 1) None 
 
 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) Concession needed if personal-data 
 is to be processed outside Icelandic 
 jurisdiction 
2) None 3) None 
4) None 
  
  TN/S/O/ISL/Rev.1 
Page 10 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(e) Other  
 
 - Maintenance and 
repair  services of office machinery and 
equipment including 
computers (CPC 845) 
 
 - Other computer 
 services (CPC 849) 
 1) None 
 
 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) Concession needed if personal-data 
 is to be processed outside Icelandic 
 jurisdiction 
2) None 3) None 
4) None 
  
 
C. Research and 
 development 
 Services  
    
(a) R&D services on 
 Natural Sciences 
 (CPC 851)  
 1) None 
2) None 
 
  
 
 3) None 
4) Unbound except as indicated in the 
 horizontal section  1),2) A license is needed for the 
 importation of  research equipment.  
 Natural history specimens must not 
 be exported from the country unless  permitted by the Icelandic Institute 
 Museum
 of Natural History 
 (“Náttúrufræðist ofnun Íslands”) . 
3),4) None.  No foreigners are permitted  to 
undertake scientific research work in the 
field of natural sciences without having 
first obt ained a research permit issued by 
the Icelandic Council of Science  field of 
natural sciences without having first 
obtained a research permit issued by the 
Icelandic Council of Science  
  
   TN/S/O/ISL/Rev.1
 Page 11Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(b) R&D services on 
 social sciences and 
 humanities (CPC  852) 
 1) None 
2) None 
 
 3) None 
4) Unbound except as indicated in the 
 horizontal section  1),2) Archaeological finds must not be exported 
from the country unless  permitted by the 
National Archaeological
 Museum Council 
("Þjóðminjaráð")  (“Safnaráð”) 
3),4) All archaeological research whether by 
Icelandic or foreign researchers  is 
subject to a permit granted by the Icelandic  
Archaeological Preservation Agency 
Committee ("fornleifanefnd")  
(“Fornleifanefnd ríkisins”) 
  
 
(c) Interdisciplinary  R&D services  (CPC 853)  1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None 
  
 
D. Real Estate 
 Services  
    
(a) Real estate services  
 involving own or  leased  property 
 (CPC 821) 
 1) None 
2) None 3),4)
 Deposits or liability insurance to cover 
loss caused to clients. All  licenses to 
provide services on sales of real estate are personal authorizations. 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3),4) Condition of one year previous residency in 
order to obtain licence to provide services 
in residential building and land sales, and other related intermediary services for 
purchase and sale of real-estate 
  
 
(b) On a Fee or  Contract basis  
 (CPC 822) 
 1) None 
2) None 
3),4)
 Deposits or liability insurance to cover 
loss caused to clients. All licences to provide services on sales of real-estate are 
personal authorization. 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3),4) Condition of one year previous residency in 
order to obtain licence to provide services in residential building and land sales, and 
other related intermediary services for 
purchase and sale of real-estate 
  
  TN/S/O/ISL/Rev.1 
Page 12 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
E. Rental/Leasing 
 Services without 
 Operators  
 1) None 
2) None 
3) Leasing services must be provided either 
by corporation with a limited liability (leasing  companies) or registered 
commercial banks or savings banks 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) Majority of the board of a leasing company 
shall be resident in Iceland. The manager shall be  resident in Iceland and a citizen of 
a Nordic Country. 
4) None   
 
(a) Relating to ships  (CPC 83103) 
 1) None 
2) None 
3) To be registered in the ship register 
 the ship must be owned by  Icelandic natural or juridical 
 persons who are resident in 
 Iceland. Further nationality  restrictions on fishing vessels. 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3) None 
  
 
  
4) None 
  
 
(b) Relating to aircraft  (CPC 83104)  1) None 
2) None 3) To be registered in the aircraft register the 
aircraft must be owned by Icelandic 
natural or juridical persons resident in Iceland 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
 
  
4) None 
  
 
(c) Relating to other  transport 
 equipment (CPC 
 83101 + 83102 +  83105) 
 1) None 
2) None 
3)  None 
 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) Residency requirement for car rental 
services  
4) Residency requirement for car rental 
services 
  
   TN/S/O/ISL/Rev.1
 Page 13Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(d) Relating to other 
 machinery and 
 equipment (CPC  832)  
 (CPC 83106 - 83109) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(e) Other (CPC 832)  
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
4) None 
  
 
F. Other Business 
 Services  
    
(a) Advertising 
 services (CPC 871) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(b) Market research  and 
public opinion polling 
services  (CPC 864) 1) None 
 
2) None 
3) None 4)  Unbound except as indicated in the 
 horizontal section 
 1) Concession needed if personal data  is to be 
processed outside Icelandic jurisdiction 
2) None 
3) None 4) None  
(c) Management 
 consulting services 
 (CPC 865) 
 
 1) None 
2) None 
3) None 
4)  Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3) None 
4) None 
  
 
 
(d) Services related to  man. consulting  (CPC 866) 
 
  1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None  
   TN/S/O/ISL/Rev.1 
Page 14 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(e) Technical testing  and 
analysis  services 
(CPC 8676) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
 
(f) Services incidental 
 to agriculture,  hunting and 
 forestry (CPC 881) 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
4) None 
  
(i) Services incidental to 
manufacturing (CPC 
884 + 885 /except for 
88442) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None  
  
 
(k) Placement and  supply  services of 
 personnel (CPC 872) 
  1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(m) Related scientific  and technical 
 consulting services 
 (CPC 8675)  
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(n) Maintenance and repair 
of equipment (CPC 
633+8861-8866; not including maritime 
vessels, aircraft or 
other transport equipment) 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
    TN/S/O/ISL/Rev.1
 Page 15Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
(o) Building-cleaning 
 services (CPC 874) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(p) Photographic  services (CPC 875)  
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
4) None 
  
 
(q) Packaging services  (CPC 876) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(r) Printing,  and 
 publishing 
 (CPC 88442) 
  1) None 
2) None 
3),4)
 Nationality or  rResidency  requirement of 
at least one year  for publishing of 
newspapers or magazines within the 
national  territory.  Nationality and  
rResidency requirement for editors  
4) Unbound except as indicated in the 
horizontal section 
 1) None 
2) None 
3) None 
  
 
 4) None 
  
 
(s) Convention 
 services (CPC 87909) 
 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the 
 horizontal section.  1) None 
2) None 
3) None 
4) None  
  TN/S/O/ISL/Rev.1 
Page 16  
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
2. COMMUNICATION 
 SERVICES 
    
    
C. Telecommunication  
Services  
    
(a) Voice telephony 
(b) Packet-switched data 
transmission services 
(c) Circuit-switched data 
transmission services 
(d) Telex services 
(e) Telegraph services 1) None 
2) None 
3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3) None 
4) Unbound except as indicated in the 
 horizontal section Iceland undertakes 
additional commitments as 
contained in the 
attachment, all parts of 
which are equally binding. 
(f) Facsimile services (g) Leased circuit 
 services 
(o) Other    
- Mobile and  
 personal 
 communications  services and 
 systems    
 Value-added 
 services2 
 Electronic mail, Voice 
mail, On-line information  
 and Data Base 
 Retrieval,   EDI, Code and 
 Protocol  
 Conversion  1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 1) None 
2) None 
3) None 
4) None  
                                                 
2  Excludes voice telephony, telegraph, tele x, packet and circuit switched data servi ces, mobile radiotele phony, paging and sate llite services.   TN/S/O/ISL/Rev.1
 Page 17Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
3. CONSTRUCTION 
 AND RELATED 
 ENGINEERING 
 SERVICES     
A. General  Construction 
Work for Buildings 
(CPC 512) 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section. 
 1) None 
2) None 
3) None 4) None  
B. General  Construction 
Work for Civil  
Engineering   
 (CPC 513) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None 
  
 
C. Installation and 
 Assembly Work   
 (CPC 514+516) 
 
  1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None 
  
D. Building 
 Completion and 
 Finishing Work    
 (CPC 517) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None 
   TN/S/O/ISL/Rev.1 
Page 18 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
4.  DISTRIBUTION 
 SERVICES 
 (excluding trade in 
 arms, alcoholic  beverages, tobacco 
 and pharmaceutical 
 products)     
A. Commissions 
 Agents' Services    
 (CPC 621) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3) None 
4) None 
  
B. Wholesale Trade 
 Services  (CPC 622) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None  
C. Retailing Services 
(CPC 631+632 6111 + 6113 + 6121) 
 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 3) None 
4) None  
 
D. Franchising (CPC  8929)  
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
4) None  
 
E. Other  
 1) None  
2) None  
3) None  
4) Unbound except as indicated in the 
 horizontal section  
 1) None  
2) None  
3) None  
4) None     TN/S/O/ISL/Rev.1
 Page 19Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
6. ENVIRONMENTAL 
SERVICES 
    
A. Sewage Services  
 (CPC 9401)  1) Unbound* 
2) None 3),4)
 Environmental operation license 
 required  
4) Unbound except as indicated in the  horizontal section 
 
 1) Unbound* 
2) None 3) None 
 
4) None    
 
B. Refuse Disposal 
 Waste  (CPC 9402) 
 1) Unbound* 
2) None 3),4)
 Environmental operating license 
 required 
4) Unbound except as indicated in the  horizontal section 
 1) Unbound* 
2) None 3) None 
 
4) None  
C. Sanitation and 
 Similar  
 Services  (CPC 
 9403) 1) Unbound* 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) Unbound* 
2) None 
3) None 
4) None   
 
D. Other (CPC 9409) 
 
 1) Unbound* 
2) None 
3),4)  Environmental operating license 
 required 4) Unbound except as indicated in the 
 horizontal section. 
 1) Unbound* 
2) None 
3) None 
 4) None 
  
 
                                                 
 * Unbound due to lack of technical feasibility. 
  TN/S/O/ISL/Rev.1 
Page 20  
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
7. FINANCIAL SERVICES   
 
(i) Iceland undertakes commitments on financ ial services in accordance with the "Understanding on Commitments in Financial Serv ices" (the Understanding). 
 
(ii) Market access commitments  with respect to modes 1) and 2) and bound in th is Schedule to the extent  of the obligations in B.3 and B.4   paragraphs 3 and 4  of the 
Understanding. 
 
A. Insurance and 
Insurance related 
Services  
 1) The supply of direct insurance is 
 reserved for Icelandic insurance 
 undertakings or authorized 
 insurance undertakings from 
 another EEA and EFTA Member State. 
 
The supply of insurance broker services is 
reserved for insuran ce brokers authorized 
by the Ministry of Commerce or 
insurance brokers authorized by 
competent authorities of another EEA 
Member State  or an EFTA Member 
State . 1) None 
 
 
 
  
 
  
 
  
 2) None 
 3) Insurance undertakings not established in 
an EEA Member State or an EFTA 
Member State  require authorization to 
establish branch offices in Iceland. 2) None 
 3) The majority of the founders 
 Founders
 of an insurance undertaking must 
be Icelandic residents or legal entities registered in Iceland,  citizens of another 
EEA  or EFTA  Member State residing in 
an EEA or EFTA Member State or legal 
entities registered in an EEA or EFTA 
Member State. 
 
Managers and board members of 
insurance undertakings shall be resident in Iceland.  Citizens of other EEA and 
EFTA Member States are exempted 
from the residency requirement.  The Minister of Commerce may grant 
exemptions from this requirement. 
    TN/S/O/ISL/Rev.1
 Page 21Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
 Any investor, whether resident or non-
resident, who acquires or intends to 
acquire a qualifying holding in an 
insurance undertaking must give advance notice to the Insurance
 Financial 
Supervisory Authority.  The Authority 
may refuse the acquisition or the exercise of ownership if it believes that the 
acquisition will affect the sound 
functioning of the enterprise. Branch offices of non-EEA insurance 
undertakings must be managed by a 
resident agent. 
 Insurance brokers must be resident in 
Iceland or citizens or legal entities of 
another EEA Member State or an EFTA 
Member State  residing in an EEA 
Member State or an EFTA Member 
State.   The Minister of Commerce may 
grant exemptions from this requirement.  
 
  
 4) Unbound except as indicated in the 
 horizontal section. 
 4) None  
B. Banking and Other  
 Financial Services  
 (excluding  insurance) 
 1) None 
 
  
2) None 
3) Credit institutions and undertakings 
engaged  in securities services established 
in a non-EEA Member State or an 
EFTA Member State can establish a 
branch or a representative office, subject 
to authorization by the Financial 
Supervisory Authority, FME.  Ministry 
of Commerce.  
 1) Domestic financial institutions shall inform 
the Central Bank of Iceland of the balances 
of service providers' accounts held by non- 
residents. 
2)  None  
3) A founder of a credit institution shall be a 
natural or legal person resident in Iceland. 
The Minister of Commerce can grant 
exemptions from this requirement.  Citizens and legal persons of other EEA 
and EFTA Member States are exempted 
from the residency requirement   TN/S/O/ISL/Rev.1 
Page 22 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
 Credit institutions and undertakings 
engaged in securities services can only be 
established as companies with limited 
liability. 
 
Commercial banks and savings banks 
have exclusive rights to accept deposits and other repayable funds from the 
public. 
 
Public issue of securities shall be 
conducted by securities undertakings or other parties authorized to provide such 
services. 
  
 
 4) Unbound except as indicated in the 
 horizontal section. 
  Managers and the majority of the board 
members of credit institutions and 
undertakings engaged in securities services 
and UCITS shall be resident in Iceland.  Citizens of other EEA and EFTA Member 
States are exempted from the residency 
requirement.  The Mi nister of Commerce 
may grant citizens of non-EEA Member 
States or non-EFTA Member States  the 
same exemptions. 
 
Service providers shall inform the Ministry of Commerce of investments made by non- 
residents in business enterprises in Iceland 
and the Central Bank of Iceland of investments made by non-residents in 
securities in Iceland. 
 4) None 
 
  
   TN/S/O/ISL/Rev.1
 Page 23 
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
9. TOURISM AND 
TRAVEL RELATED 
SERVICES 
    
A. Hotels and Restaurants 
(including catering) 
(CPC 641-643) 
 1) None 
2) None 
3) None  
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) Condition of licenses is one year  previous residency 
4) Condition of licenses is one year 
 previous residency 
 
  
 
B. Travel Agencies  and 
Tour Operators  
(CPC 7471) 
 1) None 
2) None 
3),4)  Deposits or liability insurance to cover 
loss caused to clients due to bankruptcy 
4) Unbound except as indicated in the 
 horizontal section  1) None 
2) None 
3),4) Condition of licenses is one year  previous residency of the manager 
 
  
 
C. Tourist Guides 
 Services (CPC 7472) 
 1) None 
2) None 3) None 
4) Unbound except as indicated in the 
 horizontal section  
 1) None 
2) None 3) None 
4) The right to exercise the profession  is 
reserved for  resident authorized 
tourist 
guides.  Foreign  Non- resident tourist 
guides may be granted temporary work 
permit   license  on ad hoc basis. 
  
  TN/S/O/ISL/Rev.1 
Page 24 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
10. RECREATIONAL  
 CULTURAL AND 
 SPORTING 
 SERVICES   (other than 
 audiovisual 
 services)     
A. Entertainment 
 Services  (including 
 theatre, live bands 
 and circus services) 
 (CPC 9619)  1) None 
2) None 
3) None 
 
 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) Targeted financial support to specific local, 
 regional or national activities. 
4) None  
B. News Agency 
 Services (CPC 962) 1),2),3) None ot her than access to  management 
functions is subject to discretionary 
authorizations by  competent authorities 
 
4) Condition of nationality and  residency for 
the editor of a paper or magazine. Unbound except as indicated in the 
horizontal section 
 1) None 
2) None 
3) None  
4) None  
C. Libraries, 
 Archives, 
 Museums and other 
 Cultural Service 
 (CPC 963) 1) None 
2) None 
3) None  
 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) Targeted financial support to specific local, 
regional or national activities 
 
4) None    TN/S/O/ISL/Rev.1
 Page 25Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
D. Sporting and other  
 Recreational 
 Services (CPC 964) 
 1) None 
2) None 
3),4)  Gambling, coin machines and like 
activities are subject to licensing. Professional B
boxing is illegal but 
amateur boxing is allowed  in Iceland . 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) Targeted financial support to specific local, 
regional or national activities 
 
 
4) None   
 
E. Other   
 1) None  
2) None  
3) None  
  
4)
 Unbound except as indicated in the 
 horizontal section  
 1) None  
2) None  
3) Targeted financial support to specific local, 
 regional or national activ ities 
 
4) None  
  
 
  TN/S/O/ISL/Rev.1 
Page 26  
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
11. TRANSPORT 
SERVICES 
    
A. Maritime Transport  
 Services  
    
 International transport 
(freight and passengers) 
CPC 7211 and 7212 
including  Cabotage 
transport 1). 1) None 
2) None 
3)(a)  Establishment of a registered company for 
the purpose of operating a fleet under 
Icelandic flag: Unbound except as 
indicated in the horizontal section. 
    (b)  Other forms of commercial 
 presence 2): None. 
4)(a)  Ships' crew: Unbound except as indicated 
in the horizontal section. 
(b)  Key personnel employed in relation to a 
commercial presence as defined under mode 3(b) above:  Unbound except as 
indicated in the horizontal section. 
 1) None 
2) None 
3)(a)  Unbound 
 
 
    (b) None 
 
4)(a) Unbound  
    (b)  Unbound    TN/S/O/ISL/Rev.1
 Page 27 
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on  National Treatm ent Additional Commitments 
 Maritime Auxiliary 
 Services  
 -   Maritime Cargo 
 Handling Services 
 3)   
 
 1) None 
2) None 
3) None 4) Unbound, except as indicated in the 
 horizontal section 
  
 
 1) None 
2) None 
3) None 4)  None  
-    Storage and 
 Warehousing 
 Services (CPC 742);   Customs Clearance  
 Services 4);  
 Container Station  and 
Depot 5) 
 1) Unbound
* 
2) None 
3) None 4) Unbound, except as indicated in the 
horizontal section 1) Unbound* 
2) None 
3) None 4) None  
- Maritime Agency 
 Services 6);  
 Freight Forwarding 
 Services 7) 1) None 
2) None 
3) None 
4) Unbound, except as indicated in the 
horizontal section 
 1) None 
2) None 
3) None 
4) None   
- Other Supporting  and 
Auxiliary Transport 
Services   8) 1) None 
2) None 
3) None 
4) Unbound, except as indicated in the 
horizontal section 
 1) None 
2) None 
3) None 
4) None  
                                                 
 *A commitment on this mode of delivery is not feasible.  TN/S/O/ISL/Rev.1 
Page 28 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on  National Treatm ent Additional Commitments 
Auxiliary Services as required by 
Maritime Transport Operators:   The following services are 
made available to 
international maritime 
transport suppliers on reasonable and 
non-discriminatory terms 
and conditions:  
1.Pilotage 
2. Towing and tug 
assistance 
3. Provisioning, fuelling, watering 
4. Garbage collecting, 
ballast waste disposal 5. Port Captain’s     services 
6.  Navigation aids 
7.  Shore-based operational services essential to ship 
operations, incl. 
communications, water, electrical supplies 
8. Emergency repair 
facilities 9. Anchorage, berth, 
berthing services 
10. Container handling, storage and warehousing, 
freight transport.     
   TN/S/O/ISL/Rev.1
 Page 29Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on  National Treatm ent Additional Commitments 
   Where road, coastal 
shipping and related 
auxiliary services are not 
otherwise fully covered in this schedule, a multimodal 
transport operator shall 
have the ability to rent, hire or charter trucks and related 
equipment for the purpose 
of inland forwarding of 
international cargoes 
carried by sea, or have access to and use of such 
multimodal activities for 
the purpose of providing multimodal transport 
services.  TN/S/O/ISL/Rev.1 
Page 30  
Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
C. Air Transport 
 Services  
    
 Maintenance and repair 
of aircraft and parts 
thereof 
 1) Unbound* 
2) None 
3)  None 
4)  Unbound except as indicated in the  horizontal section 
 
 1) Unbound
* 
2) None 
3) None 
4) None  
 Sales and  marketing  
 
 1) None 
  
2) None 
3) None  
 
4) Unbound except as indicated in the  horizontal section  1) For distribution through CRS of air 
 transport services provided by CRS 
 parent carrier:  unbound  None 
2) None 
3) For distribution through CRS of air 
 transport services provided by CRS 
 parent carrier:  unb ound  None 
4) None   
 Computer 
 Reservations  System 
 
 1) None 
  
 
2) None 3) None 
 
  
 
4) Unbound except as indicated in the 
 horizontal section 
  1) For obligations of parent or participating 
carriers in respect of a CRS controlled by 
an air carrier of one  or more third 
countries:  Unbound  None 
2) None 
3) For obligations of parent or participating 
carriers in respect of a CRS controlled by 
an air carrier of one or more third 
countries:  None 
4) None 
  
 
                                                 
* Unbound due to lack of technical feasibility 
   TN/S/O/ISL/Rev.1
 Page 31Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
F. Road Transport 
 Services  
    
(a) Passenger 
transportation (CPC 7121 + 7122) 
 1) None 
2) None 3),4)
 Authorization required for commercial 
land transport services.  Numerical quotas 
may be imposed as well as exclusive licenses for certain areas or routes. 
4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 3) None 
 
  
4) None 
  
 
(b) Freight  transportation  (CPC 7123) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
 
(c) Rental of  commercial  
 vehicles with 
 operator (CPC  7124) 
 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None  
  
 
(d) Maintenance and  repair of road 
 transport 
 equipment (CPC  6112+8867) 1) None 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) None 
2) None 
3) None 
4) None   
(e) Supporting 
 services for road 
 transport services  (CPC 744) 
 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
   TN/S/O/ISL/Rev.1 
Page 32 Modes of supply:  (1) Cross-border supply  (2) Consumption abroad  (3) Commercial presence  (4) Presence of natural persons 
Sector or Sub-sector Limitations on Market Access Limi tations on National Treatment Additional Commitments 
H. Services auxiliary 
 to all modes of 
 transport  
    
(b) Storage and 
 warehousing  
 services (CPC 742) 
 1) Unbound* 
2) None 
3) None 
4) Unbound except as indicated in the  horizontal section 
 1) Unbound* 
2) None 
3) None 
4) None  
   
 
(c) Freight transport 
agency services 
(CPC 748) 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
  
d) Other (CPC 749)  
 
 
 1) None 
2) None 
3) None 4) Unbound except as indicated in the 
 horizontal section 
 1) None 
2) None 
3) None 4) None 
  
 
I. Other Transport 
 Services  
  1)
 None  
2) None  
3) None  
4) Unbound except as indicated in the 
 horizontal section  
  1)
 None  
2) None  
3) None  
4) None   
 
 
                                                 
 * Unbound due to lack of technical feasibility.  TN/S/O/ISL/Rev.1 
 Page  33 
 
 
Additional Commitments by Iceland  
 Scope
 
 
The following are definitions and principl es on the regulatory framework for the basic 
telecommunications services underpinning the market access commitments by Iceland. 
 Definitions
 
 
 Users  mean service consumers and service suppliers.   
 
Essential facilities  mean facilities of a public telecommunications transport network and 
service that  
 (a) are exclusively or predominantly provided  by a single or limited number of suppliers; 
 and 
  (b) cannot feasibly be economically or technically substituted in order to provide a  
 service. 
 
A major supplier 
is a supplier, which has the ability to materially affect the terms of 
participation (having regard to price and supply) in  the relevant market for basic telecommunications 
services as a result of:   (a) control over essential facilities;  or 
 
 (b) use of its position in the market.  1. Competitive safeguards
 
 
1.1 Prevention of anti-competitive practices in telecommunications  
 
Appropriate measures shall be maintained for th e purpose of preventing suppliers who, alone 
or together, are a major supplier from engaging  in or continuing anti-competitive practices. 
 
1.2 Safeguards  
 
The anti-competitive practices referred to above shall include in particular: 
  (a) engaging in anti-competitive cross-subsidization;    
 (b) using information obtained from comp etitors with anti-competitive results;  and 
 
(c)  not making available to other services suppliers on a timely basis technical 
information about essential facilities and co mmercially relevant information which 
are necessary for them to provide services.  
 
2. Interconnection
 
 2.1 This section applies to linking with supplie rs providing public telecommunications transport 
networks or services in order to allow the users of  one supplier to communicate with users of another 
supplier and to access services provided by another supplier. 
 TN/S/O/ISL/Rev.1 
Page  34 
 
 
2.2 Interconnection to be ensured  
 
Within the limits of permitted market access, interconnection with a major supplier will be 
ensured at any technically feasible point in th e network.  Such interconnection is provided1: 
  (a) under non-discriminatory terms, cond itions (including technical standards and 
specifications) and rates and of a quality no less favourable than that provided for its own like 
services or for like services of non-affiliated service suppliers or for its subsidiaries or other 
affiliates
2, 
  (b) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that ar e transparent, reasonable, having regard to 
economic feasibility, and sufficiently unbundled so  that the supplier need not pay for network 
components or facilities that it does not require for the service to be provided;  and 
 
 (c) upon request, at points in addition to th e network termination points offered to the 
majority of users, subject to charges that reflect the cost of construction of necessary additional facilities. 
 
2.3 Public availability of the pro cedures for interconnection negotiations
 
 
The procedures applicable for interconnecti on to a major supplier will be made publicly 
available.  2.4 Transparency of interconnection arrangements
 
 
It is ensured that a major supplier will make  publicly available either its interconnection 
agreements or a reference interconnection offer.  2.5 Interconnection:  dispute settlement
 
 
A service supplier requesting interconnection with  a major supplier will have recourse, either: 
  (a)  at any time or  
 (b) after a reasonable period of time which has been made publicly known 
 to an independent domestic body, which may be a regulatory body as referred to in paragraph 5 
below, to resolve disputes regarding appropriate te rms, conditions and rates for interconnection within 
a reasonable period of time, to the extent th at these have not been established previously. 
 
3. Universal service
 
 
Any Member has the right to define the kind of universal service obligation it wishes to 
maintain.  Such obligations will not be regard ed as anti-competitive per se, provided they are 
administered in a transparent, non-discriminator y and competitively neutral manner and are not more 
burdensome than necessary for the kind of universal service defined by the Member.    
                                                 
 1 Suppliers of services or networks not generall y available to the public, such as closed user groups, have 
guaranteed rights to connect with the public telecommunications tr ansport network or services on terms, conditions and rates 
which are non-discriminatory, transparent and cost-oriented.  Su ch terms, conditions and rates may, however, vary from the 
terms, conditions and rates applicable to interconnection between public teleco mmunications networ ks or services. 
 2 Different terms, conditions and rates may be set in Iceland for operators in different market segments, on the 
basis of non-discriminatory and transparent national licensing prov isions, where such differences can be objectively justified 
because these services are not considered "like services".  TN/S/O/ISL/Rev.1 
 Page  35 
 
 
 
4. Public availability of licensing criteria  
 
Where a licence is required, the following will be made publicly available: 
 
(a) all the licensing criteria and the period of  time normally required to reach a decision 
concerning an application for a licence and 
 
(b) the terms and conditions of  individual licences. 
 
The reasons for the denial of a licence will be  made known to the applicant upon request. 
 5. Independent regulators
 
 
The regulatory body is separate from, and not accountable to, any supplier of basic 
telecommunications services.  The decisions of and the procedures used by regulators shall be impartial with respect to all market participants.  6. Allocation and use of scarce resources
 
 
Any procedures for the allocation and use of s carce resources, including frequencies, numbers 
and rights of way, will be carried out in an obj ective, timely, transparent and non-discriminatory 
manner.  The current state of allocated frequency ba nds will be made publicly available, but detailed 
identification of frequencies allocated for specific government uses is not required.  TN/S/O/ISL/Rev.1 
Page  36 
 
 
ATTACHMENT 
 
NOTES TO MARITIME TRANSPORT  
 
 ”Reasonable and non-discriminatory  terms and conditions” means, for the purpose of multimodal 
transport operations, the ability of the multimodal tran sport operator to arrange for the conveyance of its 
merchandise on a timely basis, including priority ove r other merchandise which has entered the port at a 
later date. A ”multimodal transport operator” means the person on whose behalf the bill of 
lading/multimodal transport document, or any othe r document evidencing a contract of multimodal 
carriage of goods, is issued and who is responsible for the carriage of  goods pursuant to the contract of 
carriage.  1. ”Cabotage” is defined as mari time transport of goods and passengers between  ports in Iceland. 
 
2. ”Other forms of commercial presence for th e supply of international maritime transport 
services” means the ability for intern ational maritime transport service suppliers of the other Members to 
undertake locally all activitie s, which are necessary for the supply to their customers of a partially or 
fully integrated transport service, within which the maritime transpor t constitutes a substantial element. 
(This commitment shall however not be construe d as limiting in any manner the commitments 
undertaken under the cross-border mode of delivery).  These activities include, but are not limited to:  (a) marketing and sales of mariti me transport and related servic es through direct contact with 
customers, from quotation to i nvoicing, these services being th ose operated or offered by the 
service supplier itself or by service suppliers with which th e service seller has established 
standing business  arrangements; 
 (b) the acquisition, on their own account or on beha lf of their customers (and the resale to their 
customers) of any transport and related servic es, including inward transport services by any 
mode, particularly inland waterways, road and ra il, necessary for the supply of the integrated 
service; 
 (c) the preparation of documentation concerning tr ansport documents, customs documents, or other 
documents related to the origin and character of the goods transported; 
 (d) the provision of business information by a ny means, including computerised information 
systems and electronic data interchange (sub ject to the provisions of the annex on 
telecommunications); 
 
(e) the setting of any business arrangements (incl uding participation in the stock of a company) and 
the appointment of personnel recruited locally (or,  in the case of foreign personnel, subject to 
the horizontal commitme nt on movement of personnel) with any locally established shipping 
agency; 
 
(f) acting on behalf of the companies, organising the call of the ship or taking over cargoes when 
required. 
  TN/S/O/ISL/Rev.1 
 Page  37 
 
 
3. ”Maritime cargo handling services” means activities exercised by stevedore companies, 
including terminal operators, but not including the di rect activities of dockers, when this workforce is 
organized independently of the stevedoring or te rminal operator companies. The activities covered 
include the organisation and supervision of: 
 - the loading/discharging of cargo to/from a ship; - the lashing/unlashing of cargo; - the reception/delivery and safekeeping of ca rgoes before shipment or after discharge. 
 
4. ”Customs clearance services” (alternatively ”cu stoms house brokers´ serv ices”) means activities 
consisting in carrying out on behalf of another part y customs formalities concerning import, export or 
through transport of cargoes, whether this service is the main activity of the service provider or a usual 
complement of its main activity.  
5. ”Container station and depot services” means ac tivities consisting in st oring containers, whether 
in port areas or inland, with a view to their stuffi ng/stripping, repairing, and making them available for 
shipments.  6. ”Maritime agency services” means the activit ies consisting in representing, within a given 
geographic area, as an agent the business interests of  one or more shipping lines of shipping companies, 
for the following purposes:  - marketing and sales of maritime transport and related serv ices, from quotation to invoicing, and 
issuance of bills of lading on behalf of the co mpanies; acquisition and resale of the necessary 
related services, preparation of documentation, and provisi on of business information; 
 
- acting on behalf of the companies organising the call of the ship or taking over cargoes when 
required. 
 7. ”Freight forwarding services” means the ac tivity consisting of organising and monitoring 
shipment operations on behalf of shippers, through the acquisition of transport and related services, 
preparation of documentation and pr ovision of business information. 
 8. ”Other supporting and auxiliary transport se rvices” means freight brokerage services; bill 
auditing and freight rate information services; tran sportation document prepar ation services; packing 
and crating and unpacking and de-cra ting services; freight inspection, weighing and sampling services; 
and freight receiving and acce ptance services (including local pick-up and delivery). 
 
 
_______________  TN/S/O/ISL/Rev.1 
Page 38 
ICELAND - LIST OF ARTI CLE II (MFN) EXEMPTIONS 
 
 
Sector or Subsector Description of measure 
indicating its inconsistency  
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for 
the exemption 
ALL SECTORS   
 Measures aimed at promoting 
Nordic cooperation such as: 
- guarantees and loans to 
investment projects and exports 
(The Nordic Investment Bank) - financial support to R&D 
projects (The Nordic Industrial 
Fund) - funding of feasibility studies for 
international projects (The Nordic 
Fund for Project Exports) - financial assistance to 
companies* utilizing 
environmental technology (The Nordic Environment Finance 
Corporation). 
  
 Denmark, Finland, Iceland, 
Norway and Sweden 
 
 
  
 
  
 
 (*) Applies to East European 
companies, which are co- 
operating with a Nordic company. 
  
 Indefinite 
  
 To maintain and develop Nordic 
Cooperation 
 
Audiovisual services; transmission of 
audiovisual programmes 
 Measures that ar e adopted for the 
implementation and in conformity 
with the regulations such as the 
EC Television Broadcasting Directive (no. 89/552) and which 
define programmes of European 
origin in order to extend national 
treatment to audiovisual 
programmes meeting specific origin criteria 
 Parties to the Council of Europe 
Convention on Transfrontier 
Television or other European 
countries parties to the EEA 
Agreement with whom an 
agreement may be concluded 
 Indefinite 
 The promotion of cultural identity 
within the broadcasting sector in 
Europe, as well as achievement of 
certain linguistic policy objectives   
  TN/S/O/ISL/Rev1
 Page 39Sector or Subsector Description of measure 
indicating its inconsistency  
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for 
the exemption 
Audiovisual services; production and distribution of 
cinematographic works 
and television programmes  Measures that ar e adopted for the 
implementation of benefits in conformity with such support 
programmes as MEDIA and 
EURIMAGES to audiovisual programmes and suppliers to 
these programmes, meeting 
specific European origin criteria 
 European countries 
 Indefinite 
 Preservation and promotion of the 
regional identity of the countries concerned 
 
 
 Support programmes for the 
production and distribution of cinematographic works and 
television programmes (The 
Nordic Film and TV Fund)  Denmark, Finland, Norway and 
Sweden  Indefinite 
 To maintain and develop Nordic 
cooperation  
  Measures based upon 
government-to-government framework agreements, and 
plurilateral agreements, on co-
production of audiovisual works, which confer National Treatment 
to audiovisual works covered by 
these agreements, in particular in relation to distribution and access 
to funding 
 All countries with whom 
cultural cooperation may be desirable (agreements already 
exist, or are being negotiated, 
with the following countries: France, Canada) 
 Indefinite (The promotion 
of cultural links between countries cannot be time 
bound) 
 The aim of these agreements is to 
promote cultural links between the countries concerned 
  TN/S/O/ISL/Rev.1 
Page 40 
Sector or Subsector Description of measure 
indicating its inconsistency  
with Article II Countries to which the 
measure applies Intended duration Conditions creating the need for 
the exemption 
CRS and sales and 
marketing of air transport 
services  Provisions, whereby the 
obligations of CRS system 
vendors or of parent and 
participating air carriers shall not 
apply where equivalent treatment 
to that applied under Icelandic 
regulations is not accorded in the 
country of origin of the parent 
carrier or of the system  vendor  All countries where a CRS 
system vendor or a parent air 
carrier is located  Indefinite  The need for the exemption results 
from the insufficient development 
of multilaterally agreed rules for the 
operation of CRS  
 
__________