+
BOND CORPORATION INTERNATIONAL LIMITED
PRIVATE & CONFIDENTIAL
Mr P.K.Y. Tsao
Secretary for Administrative Services
and Information
Government Secretariat
Central Government Offices
(East Wing) 1st Floor
Lower Albert Road
HONG KONG
Annex K
BOND
45th Flool East Towe Bond Centre
Queensway, Hong Kong
Telephone 5.8481668 Telex 82433 BCHL MX Fax: 6-6450341
26th February, 1988
L
Dear Mr Tsao,-
I refer to our discussions on 22nd February 1988 when you indicated that Bond Corporation International Limited (BCIL) should revert to you without delay-if it wished to make any additional points in relation to the review of television licence conditions. The issues outlined below were, for the most part, canvassed during_ our meeting and I would be grateful if you would bring these issues to the attention of the Executive Council.
1.
ན
The impression gained at our meeting is consistent with the understanding held by BCIL at the time of making its investment in HK-TVB shares, namely, that any restructuring of licence conditions would have the objective of ensuring that the underlying policies embodied in the existing legislation are effectively implemented.
BC1L has previously indicated that it believes any restrictions which effectively discriminate against foreign -investors are in the best interests neither of the industry
nor of Hong Kong. Nevertheless, it is acknowledged that in earlier communications, the Government has made it clear that it is committed to maintaining the "spirit" of the Television Ordinance. Presumably, this is in recognition- of the fact that the underlying policies expressed in the- relevant legislation are no longer effective.
It is BCIL's contention that it would be both inappropriate and unfair if, as a result of the current
1
!!