Regulation No. 30/1998 on the Agricultural Relief Fund.

This regulation establishes the structure, governance, funding and grant rules of Bjargráðasjóður, an independent relief fund jointly owned by the State, municipalities and the Farmers’ Association of Iceland. The fund is administered by a five-member board and operates through two separate divisions: a general division, which provides financial assistance for major direct losses caused by natural disasters affecting taxable real property, municipal infrastructure, agricultural fences, hayfields, power lines, machinery, equipment, hay and grass harvests; and an agricultural division, which compensates major losses suffered by individuals and associations due to livestock diseases, unusual weather and accidents, including losses to livestock, livestock products and horticultural crops. The regulation sets out the fund’s revenue sources, including municipal contributions, agricultural levies, State contributions and interest; rules on applications, supporting evidence, grant assessment, exclusions where losses are insurable or caused by negligence, inter-division loans, preservation of capital, annual accounts and audit.