Iceland Self-governance Day or Fullveldisdagurinn

Fullveldisdagurinn (Self-governance Day) is named so in memory of the fact that on December 1, 1918, the Union Act came into force between Iceland and Denmark, which was a law on how Iceland stood in its relationship with Denmark. Among other things, they included Denmark's recognition that Iceland was a sovereign and free state. The day gradually became a general national holiday until the time of the Republic, and the Icelandic flag was raised for the first time as a valid national flag on that day.

However, the day did not immediately become a national holiday. For the first three years after that, the new Icelandic flag was raised in some places and classes were suspended in schools, as is often still the case. In 1921, Fálkaordan was founded, and in the 1930s and 1940s, December 1 was most often chosen to honor people with that badge of honor. On this day, the President of Iceland awards the Republic's Medal of Achievement for saving lives from danger.