Eli Shimony - Israeli law firm representing clients on all civil/commercial legal issues in Israel. For any questions please contact us and we will be happy to assist.
Email: [email protected], Tel: +972-52-2769773, +972-3-5507155.
Companies Law 1999
Chapter 5: A Public Company Whose Shares are Traded Outside Israel
364. (a) The Minister may prescribe, after consulting with the Securities Authority, that the provisions of this Law that apply to public companies shall not apply, in whole or in part, to public companies whose shares have been offered to the public outside Israel only, or that are registered on stock exchanges outside Israel only, whether generally or in respect of classes, as the Minister may prescribe.
(b) The Minister may prescribe, after consulting with the Securities Authority, that the provisions of this Law that apply to public companies shall not apply, in whole or in part, to public companies whose shares are registered on the stock exchange in Israel and on a stock exchange outside Israel, inter alia so as to prevent conflicts between foreign laws or between rules laid down in stock exchanges outside Israel, and the provisions of this Law.
Limitation on application
365. (a) A public company whose shares have been offered to the public outside Israel only or that are listed for trading on a stock exchange outside Israel only shall file reports with the Registrar of Companies as if they were private companies, with such alterations as the Minister may prescribe.
(b) The Minister may, after consulting with the Securities Authority, prescribe that subsection (a) shall not apply to public companies referred to therein, in general or according to classes, as he may prescribe; where the Minister has so prescribed, the provisions of sections 142 to 145 shall apply to such companies.
(c) The provisions of Chapter 4 shall apply to a public company to which the provisions of subsection (a) apply, as if it were a private company.
Duties as to reporting
Chapter 6: Regulations
366. (a) The Minister may make regulations for the implementation of this Law.
(b) Regulations under this Law shall require the approval of the Constitution, Law and Justice Committee of the Knesset.
Performance and regulations