2. The memorialist shall have commenced the working of the mines within a year from the day on which the licence is handed over to him.
3. The memorialist shall always give the natives of Iceland opportunity to work by halves at the cleaning and transport of the sulphur, and he shall not, for this purpose, employ foreigners more than by halves at most, as far as he offers the same conditions to the natives as to the foreigners, and these conditions shall be acceded to by the former.
4. The Government shall be authorised, at the cost of the memorialist and its own, to be paid by halves, to appoint a man for the purpose of controlling, that the leaseholder shall not destroy the mines for ever by his method of working them.
5. The memorialist shall pay a rent of £100 sterling for the first year; for the next two years, £200; for the next two years thereon, £300; and for the last five years, £400 a year; and the concession shall expire after a lapse of ten years.
6. The memorialist shall, on receipt of the licence, deposit a sum of £5000 as a security for the fulfilment of these conditions, but it shall be returned to him at the end of the ten years, during which he shall have made use of the concession as far as he shall have fulfilled all the conditions that have been stipulated; but otherwise he is to forfeit both the concession and security-money if he shall have infringed any of the above conditions, excepting only if this infringement be caused by difficulties in making such arrangements with the parties concerned on the spot as are mentioned under head 1.
7. All disputes arising from this contract between the Government on the one hand, and the memorialist on the other, shall be settled by the said Government alone; and no appeal to courts of law shall be allowed in this case, neither in this country or elsewhere.
8. Both the yearly rent and security-money, if forfeited, shall fall to the Icelandic country-fise, and be at the disposal of the “Althing.”
Reykjavik, the 14th August 1869.
(Signed) Jón Hjaltalín. Jón Sigurðsson.
Chairman and Reporter, Benedikt Sveinsson.
Tryggir Gunnarsson.
Secretary, Grímur Thomsen.
In a most humble petition of the “Althing,” dated the 7th September 1869, addressed to His Majesty the King, the said assembly has altogether adopted the considerations and proposals of the Committee, as specified above.