Dollehz:
You can find the chart of Reykjavik if you scroll down it's chart 16-1
So basically the procedure turn east of LGE is only to start the approach after holding? Shouldn't this be indicated on the chart?
It shouldn't be on the chart because it is all explained in any decent course on PANS-OPS procedures. If you're within 30 degrees of the LGF 214 radial you directly enter the base leg course reversal. If not within 30 degrees you must first enter the 225 degree hold, which will align you with the base leg's 214 radial. As another poster stated, if you are high you can obtain an ATC clearance to descend in that hold before commencing the base-leg.
Here is the Jepp version for consistency with your Iceland charts posting:
http://tinyurl.com/cbmn6ot
As to Iceland, note the text "1200 to final." That means exactly what it says. It's like "NoPT" in the U.S.