Order of the Falcon republic, new statutes were incorporated for the Order on 11 July 1944. The Republic of Iceland replaced the King by an elected President of Iceland who is the designated Grand Master of this Order. It may be awarded to both Icelanders and citizens of other countries for achievements in Iceland or internationally. A five-member council makes recommendations on awards to the Grand Master, who then grants the award. However, the Grand Master may award the Order without recommendations from the Order Council. The Grand Master and the Chairman of the Order Council then sign the Letters Patent, which are given
Order of the Falcon to those who receive the awards. The Order has five classes: The "collar" is gilded metal, consists of links bearing the Icelandic coat-of-arms and blue-enamelled discs bearing the white falcon. The "badge" consists of a gilt cross, enamelled in white, with a blue-enamelled central disc bearing the white falcon. The "star" is a silver, eight-pointed star. For the Grand Cross class it has the badge of the Order superimposed upon it. For the Grand Knight with Star class it has a blue-enamelled central disc bearing the white falcon. The "ribbon" is blue with white-red-white border stripes. It is worn on