2. Resolution to merge the "Gal Law" Unit and the Contracts, Securities and Land Division with the Idud Company
Whereas the Idud Company, the Gal Law Unit and the Contracts, Securities and Land Division are all involved inter alia in the collection of debts owed by the rural sector to the Jewish Agency;
And whereas the Finance Department, with the agreement of the Chairman of the Executive, the Treasurer and the Chairman of the Assets and Liabilities Committee, initiated a plan to merge these three bodies;
And whereas the Finance Department has estimated a potential saving of approximately $1,000,000 anually by merging these three bodies, mainly by reducing overall staffing requirements from 40 positions currently to no more than 22 positions after the merger;
And whereas the Idud Company is fully owned by the Jewish Agency;
It is hereby resolved:
1. To approve the merging of the Idud Company, the Gal Law Unit and the Contracts, Securities and Land Division into a unified entity;
2. To manage the unified entity within the framework of the Idud Company.
3. To operate the merger from 1.1.2005.
4. To authorize the Finance Department, with the approval of the Treasurer, to take any necessary steps, including signing documents, to implement this decision.