TUESDAY, MARCH 15, 1988
CHANGES CONCERNING TERMS OF NEW
TV BROADCASTING LICENCES ANNOUNCED
THE GOVERNMENT TODAY (TUESDAY) ANNOUNCED MAJOR
AUTHORITY'S
RECOMMENDATIONS
CHANGES, BASED
ON
THE TERMS AND
ON THE BROADCASTING CONDITIONS OF NEW TELEVISION BROADCASTING LICENCES.
то THE EXECUTIVE COUNCIL HAD APPROVED RECOMMENDATIONS RELATING
FOREIGN COMPANIES,
OWNERSHIP AND OWNERSHIP AND CONTROL OF LICENSEE CONTROL.
THE SECRETARY
FOR ADMINISTRATIVE
SERVICES
AND INFORMATION, THAT THE BASIC PREMISES AUTHORITY
AND
PERVASIVE
AND
INFLUENTIAL
MR PETER TSAO, SAID AT A PRESS CONFERENCE ACCEPTED BY THE BROADCASTING REVIEW BOARD, THE BROADCASTING AND THE ADMINISTRATION HAD BEEN THAT THE AIR-WAVES WERE A PUBLIC LIMITED RESOURCE MEDIUM.
AND
TELEVISION
WAS A
14
MONOPOLY ΤΟ 'LICENSEE COMPANIES WHICH ARE IN EFFECT GIVEN THE
THEREFORE BROADCAST TV OFF AIR
HAVE A CONSIDERABLE RESPONSIBILITY
IS NOT ΤΟ INTENTION
RESTRICT AND PUBLIC DUTY AND WHILST THE UNDULY, THEY MUST ACCEPT THE INEVITABILITY OF CERTAIN CONTROLS ON WAY IN WHICH THEY OPERATE, HE SAID.
THEM
THE.
WHEN THE
NEW
LICENCES
ARE
ISSUED,
THE
HOLDING COMPANY IN ANY COMPANY DOING
MR TSAQ ADDED THAT LICENSEE COMPANIES WOULD NOT BE ABLE TO BE HELD BY A
SHARES TO HOLD AND SHOULD NOT BE PERMITTED BUSINESS UNRELATED TO TELEVISION BROADCASTING.
THE NEW CONDITIONS REFERRING TO THE OWNERSHIP LICENSEE COMPANIES INCLUDE:
AND CONTROL OF
* IT MAY NOT HOLD DIRECTLY OR INDIRECTLY ANY SUBSIDIARY COMPANY CONNECTED UNLESS TWO CONDITIONS ARE MET: (A) THE BUSINESS OF WHICH IS
OF A OR ASSOCIATED WITH TELEVISION BROADCASTING; AND (B) THE HOLDING SUBSIDIARY COMPANY IS APPROVED BY THE BROADCASTING AUTHORITY; AND
NOT BE HELD IN ANY FORM BY A
* A LICENSEE COMPANY SHALL HOLDING COMPANY.
ON FOREIGN OWNERSHIP AND CONTROL THE NEW CONDITIONS STIPULATE:
IN A TELEVISION * MORE THAN 51 PER CENT OF THE ISSUED SHARES LICENSEE
SHALL BE COMPANY
HELD
TIMES ABSOLUTELY AT
AND ORDINARILY BENEFICIALLY BY PERSONS WHO ARE PERMANENT RESIDENTS OF, RESIDENT IN, HONG KONG;
ALL
AND
* FOREIGN INTERESTS WILL BE ALLOWED TO OWN OR CONTROL UNDER
PER PER CENT OF THE ISSUED SHARES IN A LICENSEE COMPANY (THE 49 RULE);
49 CENT
/* NOT MORE