חוק לקידום השקעות בחברות הפועלות בתחומי הטכנולוגיה העילית (היי-טק) (תיקוני חקיקה), התשע"ו-2015Law for the Promotion of Investments in Companies Operating in Advanced Technology (High-Tech) Fields (legislative amendments), 2015 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Law for the Promotion of Investment in Companies Operating in the Field of High Technology (High-Tech) (Legislative Amendments), 2015 was passed in its second and third readings on 28 December 2015. This Law establishes several arrangements aimed at encouraging capital raising for companies operating in the high-tech field, mainly start-up companies, that are not traded on any stock exchange or have not yet been listed for trading on the Tel Aviv Stock Exchange. The main arrangement in this Law is to enable companies incorporated in Israel that are not a reporting corporation to raise capital through a company that consolidates the offering and serves as an intermediary for the offer and sale of securities via an internet website. An additional provision to encourage the listing of companies operating in the high-tech field authorizes the Israel Securities Authority (hereinafter - the Authority) to allow those corporations that have been listed for trading and included in the Tel Aviv Tech-Elite Index to report to the Authority the same details that such a reporting corporation reports regarding its securities traded outside Israel, provided that the Securities Authority considers that such reporting would not materially impair the ability of a reasonable investor to make an investment decision regarding securities. In addition, a corporation that does not manage the assets of others will no longer be able to offer, while trading on the stock exchange, securities listed for trading, including securities of a corporation controlling a corporation offering such securities. A transitional provision is established with respect to these provisions.

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