The Act on Iceland’s Currency, no. 22/1968, and the Regulation on the Withdrawal of Banknotes, no. 1125/2005, can be found here: Laws and rules.

Three banknotes have been withdrawn from circulation: 10-, 50-, and 100-króna notes. These notes were first circulated in 1981. The banknotes could be redeemed at commercial banks and savings banks until 1 June 2007. The Central Bank of Iceland continued to redeem them for at least twelve months after that date.