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The Insurance Contract Decree (Types of Transactions to Which the Law Shall Not Apply) - 1986 |
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By the power vested in me according to section 72 (b) of the Insurance Contract Law 1981 (hereinafter: the Law ), and with the approval of the Constitution, Legislation and Juridical Committee of the Knesset, I hereby order:
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(a) (1) The provisions of the Law shall not apply to insurance contracts to which a provident fund for pensions is a party as Insurer;
(2) The provisions of the Law, excluding sections 62 and 69, shall not apply to Diamonds' and Precious Metals' insurance contracts, inclusive insurance of stock, conveyance, personal sendings and trusts insurance contracts.
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Restrictions as to application of the Law.
(amended 1987, 1988).
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(b) For the purpose of this Decree:
"Provident Fund for Pensions" - as defined in the Income Tax Regulations (Rules for Approval and Management of Provident Funds) 1964, not including of Insurance Fund as defined in the said Regulations.
"Diamonds and Precious Metals" - Excluding processed metal for a Jewelry and a Diamond that is not in the possession of a Jewelry dealer.
"Jewelry Dealer" - As defined in the Supervision on Diamond (Export and Import) Decree 1979, excluding a goldsmith as defined in the said Decree.
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13th Av 5746 (13th August 1986)
Avraham Sharir
Minister of Justice
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