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(4) In the case of a licence granted
before the date of commencement of the
Television (Amendment) Ordinance
1973 -
(a)
the licensee shall, on or before
the expiration of 4 years after
the date of first renewal of its
licence and at all times thereafter,
ensure that
(i) not less than 51 per cent of
the voting shares of the company
are beneficially owned at all times
by persons or companies ordinarily
resident in Hong Kong; and
(Cap. 32.)
(b)
(ii) not less than 25 per cent of
the voting shares of the company
are listed at all times with at
least one recognized stock exchange
in the Colony within the meaning
of the Companies Ordinance;
the licensee shall, on or before
the expiration of four years after
the date of first renewal of its
licence