188) 14
CONFIDENTIAL
126
-
(v)
a
licensee
company
shall not be held in
any form by a holding
company;
Foreign Ownership and Control
(vi) at least 51% of the
issued shares in a
television
licensee
company shall be held
at
all
absolutely
beneficially
persons
who
times
and
by
are
holders of permanent
Hong Kong identity
cards
and
are
ordinarily resident in
Hong Kong;
(vii) foreign
shareholders
shall be allowed to
Own or control no more
than 49% of the issued
shares in a licensee
company (the 49% rule);
CONFIDENTIAL