Supreme Court Justice Yoram Danziger issued an injunction on Monday to keep the recently-passed CEO salary ceiling from going into effect. Responding to a petition by the Banks Association, he called portions of the law vague.
Under the injunction, the pension rights of senior bank officials will not be harmed if they resign by 45 days after a decision in the appeal or cancellation of the injunction. Some senior officials would have had to give notice tomorrow under the law. Judge Danziger said the law's demand for a long period of notice was needed to keep resignations anticipated under the measure from shaking up bodies which are managing public monies.