Title: Management of Television Broadcasting (dated 19.3.1988)
Author: TONG Yuk-hon
Kong has
Since its existence, Television Ordinance of Hong
always required that the majority of the
Directors and principal administrators of
television companies shall be British nationals residing
last amendment in 1980 added the
Executive
in Hong
Hong Kong.
The
provision that after the fourth year of the award of the
broadcasting licences, at least 51% of the shares of
television companies shall be beneficially held by local
residents or organisations. This additional provision on
the not replace the requirement that
Executive
shareholding does
majority of
Directors
administrators
shall
be
British
and principal
nationals.
The
co-existence of these two provisions in the existing
Television Ordinance therefore lay down both nationality
and residence requirements.
2.
Shareholding in television companies has two
implications: first, the profits of television companies
are distributed in accordance with the number of shares a
shareholder holds; secondly, because of legislation
relating
the incorporation, company
majority
shareholders
to
can appoint the principal administrators and