Althingi shall convene for a regular session every year on the 1st of October or, if the day is a holiday, on the following weekday, and continue in session until the same date next year, unless the election period of Members of Althingi has elapsed earlier or Althingi has been dissolved.
The opening date of the regular session of Althingi may be changed by law.
Althingi is inviolate. No person may disturb its peace or violate its freedom.
Althingi shall normally convene in Reykjavik, but under special circumstances the President of the Republic may order that Althingi convene at another place in Iceland.
Members of Althingi and Ministers are entitled to introduce bills and draft resolutions.
Althingi may appoint committees of its Members in order to investigate important matters of public interest. Althingi may grant authority to such committees to request reports, oral or written, from officials as well as from individuals.
No tax may be imposed, altered or abolished except by law.
Nor may loans, binding upon the State, be raised or any real estate belonging to the State or the use thereof sold or in any other way disposed of, except by authority in law.
No disbursement may be made unless authorized in the budget or the supplementary budget.
A budget proposal for the coming fiscal year, containing a report on the revenue and expenditure of the State, shall be submitted to each regular session of Althingi upon it being convened.
Althingi shall elect three Inspectors General who shall be remunerated for their work. They shall be proportionally elected. The Inspectors General shall annually inspect the national revenue and expenditure accounts thoroughly and ascertain whether the entire revenue has been accounted for and whether any unauthorized disbursements have been made. They may, individually, two together or jointly, request all reports and documents which they deem necessary. The accounts for each fiscal year shall be incorporated into one aggregate account and a bill for the approval thereof be submitted to Althingi, together with the comments of the Inspectors General.
The Inspectors General are entitled, individually or jointly, to examine the accounts and books of the State Treasurer, as well as those of the Ministries, for the current or past year. They shall indicate to their successors in writing anything that they feel requires consideration.
No bill may be passed until it has received three readings in Althingi.
Regular elections to Althingi shall take place not later than at the end of the electoral term. The beginning and end of the electoral term is on the same day of the week in a month, counting from the beginning of the month.
Althingi itself decides whether its Members are legally elected and also whether a Member has lost eligibility for election to Althingi.
Each new Member of Althingi shall take a pledge to uphold the Constitution when his election has been approved.
Members of Althingi are bound solely by their conviction and not by any instructions from their constituents.
No Member of Althingi may be subjected to custody on remand during a session of Althingi without the permission of Althingi, nor may a criminal action be brought against him unless he is caught in the act of committing a crime.
No Member of Althingi may be made responsible outside Althingi for statements made by him in Althingi, except with the permission of Althingi.
If a Member of Althingi loses eligibility for election to Althingi, he forfeits those rights that the election brought him.
Ministers are entitled to a seat in Althingi and, by virtue of their office, have the right to participate in its debates as often as they may desire, but they must observe the rules of procedure. They have the right to vote only if they are at the same time Members of Althingi.
Althingi elects a President, who presides over its proceedings.
Althingi may not take a decision unless more than half of its Members are present at the meeting and take part in the voting.
Each Member of Althingi may request, subject to the permission of Althingi, information from a Minister or an answer regarding a public matter, by tabling a question or requesting a report.
Althingi may not admit for consideration any matter unless introduced by one of its Members or a Minister.
Should Althingi not find reason to take some other decision on a given matter it may refer it to a Minister.
Meetings of Althingi shall be held in public. Nevertheless, the President of Althingi, or the quorum stipulated by the rules of procedure, may request that all those not Members of Althingi be excluded. The meeting shall then decide whether the matter shall be debated in a public or a closed session.
The rules of procedure of Althingi shall be determined by law.