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Whereas the existing definition as regards companies
includes a requirement that the majority of directors
actively participating in the direction of the company
must be Commonwealth citizens ordinarily resident in Hong
Kong, the Bill amends this to take account of the new
residential requirements for individuals, and also repeals
the reference to Commonwealth citizens. This latter
reference is no longer appropriate.
9/4e Holding Companies and Subsidiaries
Turning now to the question of holding companies
and subsidiaries, certain changes are proposed in the way
in which a licence may be held by a company which may be
related to other companies. On 25 November 1986. addressing the Council on the subject of the Government's
proposals in response to the Broadcasting Review Board's
Report, the then Attorney General
General stated that the
structure, ownership and control of licensees should
continue to be governed by existing policies and the
spirit of existing legislation. When introducing the
the Bill which gave rise to the Television (Amendment) Bill 1973/this Council:
current Ordinance
Attorney General
the then A stated ✦
AG stated
The
new section 10 expands the conditions which
must be fulfilled by an applicant for a licence....
These new sections