14
At present, restrictions on foreign ownership and control of a television licensee
company are provided for under Sections 10(b), (d), (e) & (f), 11(1)(b) & (c), and
11(1)(b) 11A (2)(b) & (4) (a) of the Television Ordinance. In essence, it is required that -
(a)
(b)
television
not less than 51% of the shares in a licensee
company shall be held by people or companies ordinarily resident in Hong Kong; and
the majority of the directors and the principal officers of a licensee company shall be Commonwealth citizens ordinarily resident
in Hong Kong.
The current concept of what is Section 2 of the Ordinance.*
is "local" is provided for in
*Footnote
The concept of "local" as defined in Section 2 of the existing Television Ordinance
is a
person Οι a company being "ordinarily resident in Hong Kong". "Ordinarily resident in Hong Kong" means
(a) in the case of a person
(b)
(i)
(ii)
resident in Hong Kong for not less than 180 days in any calendar year; or
resident in Hong Kong for not less than 300 days in any 2 consecutive calendar years; and
in the case of a company, a company
(i) which is formed and registered in Hong Kong
under the Companies Ordinance;
(ii)
the
of which the majority of the directors participating actively in the direction of company are Commonwealth citizens ordinarily resident in Hong Kong as defined in paragraph (a); and
(iii) the control and management of which is bona fide exercised in Hong Kong.