Act No. 106 on the Icelandic Regional Development Institute. Country/Territory Iceland Document type Legislation Date 1999 Source FAO, FAOLEX Subject Agricultural & rural development, General Keyword Governance Institution Rural employment Geographical area Arctic, Atlantic Ocean Islands, Europe, Europe and Central Asia, North Atlantic, North-East Atlantic, Northern Europe Entry into force notes This Act came into force on 1 January 2000. Abstract The present Act regulates the Icelandic Regional Development Institute, an independent state-owned agency falling under the authority of Minister of Transport and Local Government. It is divided in three sections: I. Functions and Administrative Structure; II. Operations; and III. Miscellaneous Provisions. The Institute's functions are to promote rural settlement and economic activity, with special emphasis on the creation of equal opportunities for all inhabitants to employment and habitation. It contributes to the preparation, organisation and financing of projects and the provision of loans with the aim of fostering regional settlement, promoting employment and supporting innovation in business and industry. Full text English Website www.byggdastofnun.is References - Legislation Implemented by Regulation no. 347 on the Icelandic Regional Development Institute. Legislation | Iceland | 2020 Keyword: Governance, Institution, Rural employment Source: FAO, FAOLEX