Iceland first country to legalize equal pay between men and women

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A new law making it illegal to pay men more than women has taken effect in Iceland.

The legislation, which came into effect on new year's day, makes Iceland the first country in the world to legalize equal pay between men and women.

Under the new rules, companies and government agencies employing at least 25 people will have to obtain government certification of their equal-pay policies.

Those that fail to prove pay parity will face fines.