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2. The Minister of Finance will appoint from among State employees a Commissioner of Insurance.
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Appointment of the Commissioner
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3. The Minister of Finance may, if he sees a need therefor, appoint from among State employees a Deputy Commissioner of Insurance. The Minister of Finance may confer upon the Deputy Commissioner any power vested by this Law on the Commissioner.
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Deputy Commissioner
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4. (a) An Advisory Committee will be established to advise the Minister of Finance and the Commissioner on any matter on which they are required to consult it under this Law and on any other matter relating to Insurance which will be brought before it or which will be placed on its agenda upon the proposal of one of its members.
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Advisory Committee
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(b) The Committee will consist of nine members appointed by the Minister of Finance from among the public and from among State employees. Insurers, Insurance Brokers and Insureds will be represented on the Committee. Insurance Brokers will be represented by two representatives of the Insurance Brokers Association which includes the largest number of insurance brokers in Israel. At least five members of the Committee will not be persons who are involved in Insurance business.
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(c) The Minister of Finance will appoint one of the members of the Committee to be the chairman of the Committee and another to be the vice-chairman. One of these will not be a State employee.
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(d) Three members of the Committee, including the chairman or vice-chairman, will contitute a quorum at its meetings.
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5. The Committee may appoint from among Its members permanent and ad hoc subcommittees. The conclusions of a subcommittee will be regarded as recommendations to the Committee, which may adopt, alter or reject them.
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Subcommittees
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6. (a) An Advisory Board will be established to advise the Minister of Finance and the Commissioner on any matter involving Insurance brought before it by the Committee or placed on its agenda upon the proposal of one of its members.
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Advisory Board (Amended: 1996)
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(b) The Board will consist of fifteen members appointed by the Minister of Finance and will include four representatives of Insurers, Insurance Brokers and Insureds. Three of the Board members will be members of the Advisory Committee as aforementioned in Section 4; Insurance Brokers will be represented by three representatives of the Association of which the largest number of Insurance Brokers in Israel are members; At least eight of the members of the Board will not be persons who are involved in Insurance Business; At least eight of the members of the Board will not be State employees.
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(c) The Board will elect one of its members to be its chairman and another to be its vice-chairman; one of these will not be a State employee.
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(d) Six members of the Board. including the chairman or vice- chairman will constitute a quorum at its meetings.
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(e) Members of the Committee who are not members of the Board may take part in the meetings of the Board without voting rights.
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(f) The Board may appoint from among its members permanent and ad hoc committees.
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7. (a) Notice of the appointment of the Commissioner or a Deputy Commissioner and of a conferment of power under section 3 will be published in Reshumot (the Official Gazette).
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Publication
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(b) Notice of the appointment and termination of tenure of a member of the Committee. a member of the Board or a chairman or vice-chairman will be published in Reshumot (the Official Gazette).
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8. (a) The period of tenure of a member of the Committee or Board will be three years from the date of his appointment:
Provided that two of those initially appointed as members of the Committee and three of those initially appointed as members of the Board will be appointed for two years.
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Period of Tenure
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(b) A member of the Committee or Board whose period of tenure has expired may be re-appointed.
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9. (a) A member of the Committee or Board will cease to hold office before the expiration of his period of tenure in any of the following cases:
(1) He resigns by delivering a letter of resignation to the Minister of Finance;
(2) He is, in the opinion of the Minister of Finance. permanently unable to carry out his functions;
(3) He is convicted of an offence which, in the opinion of Attorney-General. involves moral turpitude.
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Termination of tenure
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(b) A State employee appointed as a member of the Committee or the Board will cease to hold office when he ceases to be a State employee.
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10. (a) The Committee and the Board will prescribe their modes of operation and the order of their deliberations to the extent that they are not prescribed by or under this Law.
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Procedures
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(b) The decisions of the Committee and of the Board will be passed by a majority of the members present and voting at the meeting, provided that a quorum is present when they are passed.
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(c) The Minister may prescribe that members of the Committee or Board who are not State employees will be reimbursed out of the Treasury for expenses involved in the performance of their functions.
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11. The existence of the Committee or of a subcommittee thereof, the existence of the Board or of a committee thereof, and the powers and the validity of the decisions of any of these bodies, will not be affected by the vacancy of the place of a member or by a defect in his appointment or continuance in office.
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Saving of Validity
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12. A person will not disclose anything of the proceedings of the Committee or the Board or any material delivered to either unless he has been authorized to do so by the Minister of Finance or the chairman. This provision will not apply to proceedings which the Committee or Board has decided will be open to the public.
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Secrecy
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