חוק פיצויים לנפגעי תאונות דרכים (תיקון מס' 25), התשע"ו-2016Law Compensation for Victims of Road Accidents (Amendment No. 25), 2016 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Road Accident Victims Compensation Law (Amendment No. 25), 2016 provides that the Authority, as defined in the Motor Vehicle Ordinance [New Version], 1930, shall direct the transfer of surplus funds in the Karnit fund's account, beyond the funds required for it to perform its statutory functions, unless the Knesset Constitution, Law and Justice Committee has approved otherwise. It is established that the transfer shall be carried out directly or in another manner determined by the Authority, all with the consent of the Minister of Justice. It is further established that if the Karnit account has not accumulated 350 million NIS, the Authority may, but is not required to, carry out such a transfer. Alongside the obligation to transfer surplus funds, the Law establishes a reporting duty for the Authority to the Knesset Constitution Committee. The report shall include data on the amount held by Karnit at the end of the year preceding the report; the amount transferred by the fund to insured persons in the year preceding the report date; and the amount the fund is expected to transfer to insured persons in the year in which the report is submitted, and the manner in which it is expected to transfer it.

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