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 Sword bottom of the badge, the pairs of crossed swords are each tied together and the side swords are bound to the cross by a single gold ribbon which crosses the arms of the cross from behind. The badge hanged from a gold and enamelled royal crown. Formerly the Order also had a distinctive blue and yellow habit worn on formal occasions such as at chapters of the Order. The habit included yellow trousers, a yellow knee length coat with blue shoulder tabs and a yellow girdle, each bordered in blue, blue mantle lined with blue satin and a blue shoulder