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Laws of the State of Israel

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Laws of the State of Israel LAWS OF THE STATE OF ISRAEL Vol. 18 5724 — 1963/64 FROM 18th CHESHVAN, 5724—5.11.63 TO 21st AV, 5724—30.7.64 Authorised Translation from the Hebrew Prepared at the Ministry of Justice Published by the Government Printer Jerusalem LAWS OF THE STATE OF ISRAEL VOL. 18 5724—1963/64 FROM 18th CHESHVAN, 5724-5.11.63 TO 21st AV, 5724-30.7.64 Authorised Translation from the Hebrew Prepared at the Ministry of Justice PUBLISHED BY THE GOVERNMENT PRINTER CONTENTS Page Laws 3 Budget Laws •• 199 Index of Laws in the Order of the Dates of Their Adoption by the Knesset ... 1 ••• 210 Alphabetical Index of Laws 214 EXPLANATIONS /. R. (Iton Rishmi) — The Official Gazette during the tenure of the Provisional Council of State Reshumot — The Official Gazette since the incep• tion of the Knesset Sections of Reshumot referred to in this translation : Yalkut Ha-Pirsumim — Government Notices Sefer Ha-Chukkim — Principal Legislation Chukkei Taktiiv — Budgetary Legislation Kovetz Ha-Takkanot — Subsidiary Legislation Hatza'ot Chok — Bills Chukkei Taktziv (Hatza'ot) — Budget Bills Dinei Yisrael (from No. 2 : — The revised, up-to-date and binding Dinei Medinat Yisrael) Hebrew text of legislation enacted (Nusach Chadash) before the establishment of the State — The Official Gazette of the Mandatory P.G. (Palestine Gazette) Government : — The 1934 revised edition of Palestine Laws of Palestine legislation (Drayton) — Laws of the State of Israel LSI 1 LAWS (No. 1) FUEL EXCISE (AMENDMENT) LAW, 5724-1963' 1. In section 1 of the Fuel Excise Law, 5718-19581) (hereinafter Amendment of referred to as "the principal Law") — section 1. (1) in the definition of "fuel", the closing passage beginning with the words "but does not include" shall be replaced by the following closing passage : "but does not include crude petro• leum which has not been delivered for processing and has .not been used for any purpose other than the operation of a petro• leum field and has not been delivered with a view to being so used"; (2) in the definition of "manufacture", the words "and the filling of liquefied petroleum gas into tanks" shall be added at the end. 2. In section 4 of the principal Law, the following shall be added Amendment of at the end of subsection (a): "Where the manufacture is carried on in section 4. different places, the excise shall be paid at the time of the removal of the fuel by the maufacturer from the place of manufacture designated by the Director.". LEVI ESHKOL PINCHAS SAPIR Prime Minister Minister of Finance SHNEÚR ZALMAN SHAZAR President of the State (No. 2) STATE OF ISRAEL BONDS (THIRD DEVELOPMENT ISSUE) LAW, 5724-1963** 1. The Minister of Finance is authorised to borrow on behalf of the Authorisation State of Israel, a sum not exceeding 400,000,000 dollars (coin or cur- to accept loan, rency of the United States of America, or its equivalent in currencies * Passed by the Knesset on the 18th Cheshvan 5724 (5th November 1963) and published in Sefer Ha-Chukkim No. 406 of the 27th Cheshvan, 5724 (14th November, 1963), p. 2; the Bill and an Explanatory Note were pub• lished in Hatza'ot Chok No. 565 of 5723, p. 306. !) Sefer Ha-Chukkim No. 258 of 5718, p. 160; LSI vol. XII, p. 177. ** Passed by the Knesset on the 25th Cheshvan, 5724 (12th November, 1963) and published in Sefer Ha-Chukkim No. 407 of the 2nd Kistev, 5714 (18th November, 1963), p. 4; the Bill and Explanatory Note were pub• lished in Hatza'ot Chok No. 572 of 5724, p. 8. 3 of other countries) and for this purpose to issue and sell from time to time bonds in the United States of America and other countries. Title and 2. The bonds issued under this Law (hereinafter referred to as designation "Bonds") shall be denominated "State of Israel Bonds (Third Deve• of bonds. lopment Issue)" or with such variation of title and with such series designations as the Minister of Finance may determine. • Power of 3. The Bonds may be issued in annual or other series, and the Minister Minister of Finance may from time to time determine the form of the Bonds of Finance. and of each series thereof, the amounts in which they shall be issued, subject to the limitation imposed by section 1, the modes of their issue and the terms and conditions applicable to them, including restrictions on their transfer. Such terms and conditions need not be uniform in all series, but may vary from series to series. Denominations, 4. (a) The Bonds may be issued on an interest-bearing basis, on a types and capital appreciation basis, or on a combination interest-bearing and characteristics of bonds. capital appreciation basis, and shall mature at such time or times as may be prescribed by the Minister of Finance, provided that no Bond issued under this Law shall mature later than 15 years after the date of issuance. Bonds issued on an interest-bearing basis 'shall bear such rate of interest, and Bonds issued on a capital appreciation basis shall carry such rate of appreciation and Bonds issued on a combination interest-bearing and capital appreciation basis shall bear such rate of interest and carry such rate of appreciation as may be prescribed by the Minister of Finance, provided that no bond issued under this Law shall afford an investment yield, taking into account any rate of interest of appreciation and any discount or premium applicable thereto, exceeding 4 p. ct. per annum, compounded semianually. The Bonds shall be of such denominations and may be sold at such price or prices and redeemed before and at maturity upon such terms and conditions consistent with the provisions of this Law as the Minister of Finance may from time to time prescribe. (b) The Minister of Finance may authorise the acceptance of outstanding obligations of the State of Israel in payment for'the Bonds, and be may designate the obligations of the State of Israel which may be so accepted and the terms and conditions of such acceptance. Signature 5. (a) A Bond shall bear the State Seal or State Emblem or a facsi• on Bonds. mile thereof. ! (b) A Bond shall bear the signature of the Prime Minister and the Minister of Finance or the facsimile of such signatures printed from engraving; the coupon annexed to a Coupon Bond need only bear such a facsimile of the signature of the Minister of Finance. (c) The Minister of Finance may prescribe that a Bond shall be signed by additional persons appointed by him in that behalf from among the persons employed in the service of the State of Israel; notice of the appointment shall be published in Reshumot. 4 6. The principal, interest, appreciated principal and redemption price Repayment payable under the Bonds shall, subject to the provision of section' 8 for at maturity. redemption in' Israel currency at the option of the holder, be paid in legal currency of the United States of America out of the general reve• nues and assets of the State of Israel. The full faith and credit of the State of Israel is pledged for such payment. 7. The Minister of Finance is empowered to prescribe the terms and Redemption conditions upon which any Bond may be redeemed prior to maturity, before provided, however, that if Bonds are issued in series, no Bond of any maturity. series may be redeemed unless all Bonds of a prior series have been called for redemption. 8. The Minister of Finance is empowered to make provisions for the Sinking fund establishment of a sinking fund and thé terms and conditions upon and redemption in Israel which the State of Israel shall, upon the demand of the holder of a currency. Bond, redeem any Bond in Israel currency. 9. (a) The Bonds shall be exempt from stamp duty. Exemption from taxes. (b) If the actual owner of a Bond is resident abroad, the principal, interest, appreciated capital and redemption price payable thereunder, or any income or gain obtained in transactions therein, shall be free of all taxes, whether ad valorem or otherwise, and whether of specific or general applicability, which are, or may in the future be, imposed in Israel. 10. The Minister of Finance may appoint Fiscal Agents in the United Administration. States of America and other countries for the purpose of this Law and may enter into contracts on behalf of the State of Israel with any person for the carrying out of any operations incidental to the issuance, flota• tion, registry and transfer of the Bonds. 11. (a) The Minister of Finance is charged with the implementation Implementation of this Law and may— and regulations. (1) execute, either personally or through a person appointed by him in that behalf in writing, any document (including any contract of the kind referred to in section 10) deemed by him to be necessary or desirable for the implementation of this Law; (2) appoint agents abroad in order to carry on in his name the sale of, and other services connected with, the Bonds; (3) appoint registrars and transfer agents and establish offices for maintaining records of the registration and transfer of the Bonds. (b) The expenses incidental to the implementation of this Law shall be paid out of the general revenues and assets of the State of Israel. 5 í (c) The Minister of Finance may make regulations as to any matter relating to the implementation of this Law. LEVI ESHKOL PINCHAS SAPIR Prime Minister Minister of Finance SHNEUR ZALMAN SHAZAR , President of the State (No.
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