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Client Updates
 

May 22, 2014

Client Update - ISA's Proposed Amendment to the Earnings Test

HFN's Corporate and Securities department has recently published a client update regarding ISA's proposed amendment to the "Earnings Test", which is one of the Distribution Tests, set out in the Companies Law, 1999.

The amendment was discussed by the ISA and provided to the Ministry of Justice. The main reasons for this amendment are difficulties in implementing the Earnings Test in light of the transition to IFRS and the lack of flexibility in amending the Distribution Tests as opposed to the reporting standards, on which the Distribution Tests are based, which change on a frequent basis.

For the changes proposed to the Earnings Test and to read the full client update, please click here (Hebrew).

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