The Ministerial Committee for Legislation decided Sunday to support the 'Sami Ofer' bill, which forbids investing in corporations that engage in business dealings with Iran.
The bill rules a punishment of one year in prison and a fine amounting to the higher of NIS 5 million or three times the forecasted profits of the dealings.
"A country that invests billions on its diplomatic and military fronts must complete its efforts with simple and essential legislation," MK Carmel Shama-Hacohen (Likud) said with reference to the bill he initiated.
The Ministerial Committee for Legislation decided in its meeting that the Coalition will support the bill and advance it, so long as future government would continue such efforts.
Last week Shama-Hacohen came under criticism after deciding to shut down a debate about the Ofer Brothers 15 minutes after it began, under mysterious circumstances.
The Knesset Economic Affairs Committee meeting was suddenly adjourned after Shama-Hacohen, the committee's chairman, was handed a note, the content of which he declined to divulge. Knesset sources clarified that Shama-Hacohen did not adjourn the meeting due to security or legal motives.
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