Companies Law (Amendment – Representation Quotas for Women on Boards of Directors of Public Companies) Bill
Translated from Hebrew: הצעת חוק החברות (תיקון - מכסות ייצוג לנשים בדירקטוריונים של חברות ציבוריות)
TL;DRA proposal to set mandatory quotas for the representation of women on the boards of directors of public companies, gradually up to 50% within 12 years.
Translated from Hebrew
What does the bill do?
The proposal adds a new section to the Companies Law requiring equal representation of both sexes on the boards of directors of public companies. In the first years of the legislation, gradual quotas are set according to the size of the board (starting from representation of one member of a sex on a board of 2-3 members, up to a minimum of 40% on large boards). After 12 years, the quota requirement will rise to 50% women on the board. The company's audit committee will be responsible for verifying candidates' compliance with these provisions, and the company will report annually to the Israel Securities Authority on the number of women serving.
The votes on this bill
Coalition 68 seats
Left the coalition 8 seats
Opposition 44 seats
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