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The New Class Actions Law 


 
     
 

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Chapter One: Interpretation

l. In this Law -

'Means of control' of any incorporated entity -- means any of the following:

(1) a right to vote at a general meeting of a company or at a corresponding body of another incorporated entity;

(2) the right to appoint directors of the incorporated entity;

(3) the right to share in the profits of the incorporated entity;

(4) the right to the surplus assets of the incorporated entity. after discharge of its liabilities, upon its liquidation;

"Possession" or "Acquisition" means direct or indirect possession or acquisition and includes possession or acquisition through an Broker or trustee or through a controlled incorporated entity;

"Commissioner" means the Commissioner of Insurance appointed under section 2;

"Committee" means the Advisory Committee established under section 4;

"the Board" means the Advisory Board established under section 6;

"Insurer" means any one who has received an Israeli Insurer's licence under section 15 (a) (I) and any one who has received a foreign Insurer's licence under section 15 (a) (2);

"Insurance Broker" or "Broker" means any one who has received an individual Broker's licence under section 25 or anyone who has received a corporate Broker's licence under section 26;

"Dealing in Insurance" means entering into Insurance contracts commercially except for the granting of a guarantee for a commodity or for a service which is incidental to the main business of the guarantor; on this subject 'entering into a contract' includes a proposal to  enter into a contract as well as entering into a contract not for profit;

"Relative"  means a spouse, a brother or sister, a parent, a descendant, a descendant of the spouse. And a spouse of any of these.

 

Definitions

 

 

 

 
 
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