M(88) 14
(viii) not
127
more than 10% of
the issued shares in a
licensee company shall
be owned or controlled
by any single foreign
shareholder (the 10%
rule);
(ix)
where
a
foreign
shareholder owns
or
has an interest in 2%
or more of the issued
shares in a licensee
company, the licensee
shall forthwith notify
and seek approval from
the
Broadcasting
Authority
(the 2%
rule);
(x)
any
shareholder
foreign
holding
in
a
interests
licensee company or
its holding company
exceeding the above
levels on 24 November
1987 may apply to the
Broadcasting
Authority