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 Crown of India special precedence or status due to it. Furthermore, they were entitled to wear the badge of the Order, which included Queen Victoria's Imperial Cypher, VRI ("Victoria Regina Imperatrix"). The letters were set in diamonds, pearls and turquoises and were together surrounded by a border of pearls surmounted by a figure the Imperial Crown. The badge was worn attached to a light blue bow, edged in white, on the left shoulder. Queen Elizabeth II (as Princess Elizabeth) and her sister Princess Margaret were appointed to the Order by their father King George VI in June 1947. Queen Elizabeth II is the