United States of America and Israel’s Fund for Agricultural Research and Development Law, 1979.

This Law, composed of seven sections, gives definitions and establishes conditions for the institution of a Fund for Agricultural research and development regarding the United States of America and Israel. Section 1 gives definitions. The Fund’s Agreement is defined as the agreement between the US and the Government of Israel that has been signed on 25 October 1977. Section 2 establishes the Fund as a Corporation with all legal and operational powers. Section 3 establishes that the fund shall be organized and directed according to the Fund’s Agreement and to the Rules and Regulations set by it. Section 4 provides that the Bank Of Israel is authorized to accept Funds’ deposits. Section 5 provides the government with powers to operate changes, upon approval of the Knesset’s Finance Committee, in the Fund’s Agreement. Section 6 provides for powers to the Minister of Treasury to set Regulations regarding Tax Exemptions, as reported in the Fund’s Agreement. Section 7 establishes Minister of Treasury and the Minister of Agriculture as the Ministers in charge of this Law.