This law amends existing legislation on territorial waters and economic zones by precisely defining the outer limits of Iceland's continental shelf on the Reykjanes Ridge. The boundaries are specified using exact geographic coordinates forming a line southwest of Iceland, from approximately 60°N to 56°N and from approximately 35°W to 37°W. This delineation clarifies Iceland's rights over the seabed and subsoil in this area, which has implications for resource exploitation and sovereign rights.