18
CAP. 52]
Television
(1989 Ed.
or matter arising at a general meeting of the licensee, voting rights which do not exceed in their aggregate the number of voting rights which 10% of the voting shares of the licensee carry.
(3) Where-
(a) a person has a relevant interest in 35% or more of the shares of a company or other body corporate whether incorporated or otherwise formed in or outside Hong Kong; and
(b) the company or other body corporate or a subsidiary company thereof, has a relevant interest in 2% or more of the voting shares of a licensee,
then for the purposes only of subsection (1) the person shall be regarded as having a relevant interest in voting shares of the licensee (in addition to any other such interest which he has either apart from this subsection or by virtue of another application in relation to him of this subsection) and the number of those shares in which he shall be regarded by this subsection as having a relevant interest shall be the number which bears the same proportion to the number of voting shares of the licensee in which the company or other body corporate mentioned in paragraph (b) has a relevant interest as the number of shares, being shares mentioned in paragraph (a) and as regards which he has a relevant interest, bears to the aggregate of the voting shares issued by the company mentioned in paragraph (a).
(4) Where a person has control of a company, whether directly or indirectly, and that company or a subsidiary company thereof has a relevant interest in voting shares of a licensee, then for the purposes of subsection (1) (and for no other purpose) the person shall be regarded as having, to the exclusion of the company or the subsidiary company, as may be appropriate, a relevant interest in those shares.
(5) Where 2 or more persons jointly have a relevant interest in voting shares of a licensee and one or more (but not all) of those persons either is or are not for the time being resident in Hong Kong or has or have not been so resident for at least one continuous period of not less than 7 years, for the purposes only of this section the other such person or, where appropriate, each of the other such persons shall be regarded as being restricted under subsection (1).
(6) Without limiting the generality of subsection (4), for the purposes only of that subsection a person shall be regarded as having control of a company if the control is exercisable through a nominee or results from, or is exercised by means of, a trust, agreement, arrangement, understanding or practice and whether or not the means has legal or equitable force or is based on legal or equitable rights.
(7) Subsection (1) shall not be construed as affecting the ability of a person to transfer a relevant interest in a voting share of a licensee pursuant to the requirements of a notice under section 17G(7).