14
WEDNESDAY, APRIL 24, 1991
BEEN
ΤΟ
WHETHER ARTICLES FOR
MR TSAO ADDED THAT THE BILL SOUGHT TO CLARIFY THE SCOPE OF THE IT QUESTIONS AS PRINCIPAL ORDINANCE AS THERE HAD
TOKENS, AND SIMILAR COVERED THE EXCHANGE OF DONATIONS IN PUBLIC PLACES.
BADGES,
"THE BILL MAKES CLEAR THAT IT IS APPLICABLE TO SUCH EXCHANGES, HE SAID.
DEBATE ON THE BILL WAS ADJOURNED.
-
TV COMPANIES TO BE CONTROLLED BY 'QUALIFIED VOTING CONTROLLERS
WILL
THE
THE LEGISLATIVE
TELEVISION LICENSEE COMPANY THE POTENTIAL TO CONTROL. 4 ALWAYS BE IN THE HANDS OF
VOTING CONTROLLERS, "QUALIFIED" SECRETARY FOR HOME AFFAIRS, THE HON PETER TSAO, TOLD COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE TELEVISION { AMENDMENT} BILL
ITS MAIN PURPOSE WAS TO PROVIDE A.
IN TELEVISION LICENSEE
1991, MR TSAO EXPLAINED THAT STATUTORY FRAMEWORK THAT WOULD PERMIT SHARES COMPANIES. TO BE TRANSFERRED TO AND HELD IN THE NAMES OF NOMINEES.
SAME TIME, IT RESIDENT IN HONG
AT THE
--
WOULD ALSO ENSURE THAT INDIVIDUALS KONG OVER A SEVEN-YEAR PERIOD AND A MAJORITY OF WHOSE BOARD OF DIRECTORS IS SO RESIDENT RETAIN THE POTENTIAL TO CONTROL SUCH LICENSEES.
IN
ORDINARILY COMPANIES HONG HONG
+
LEGISLATION
MR TSAO POINTED OUT THAT SINCE THE FIRST HONG KONG DEALING WITH TELEVISION IN 1964 ONE OF THE GOVERNMENT'S AIMS WAS TO
SHOULD TELEVISION ENSURE THAT
BE PROVIDED BY PRIVATE ENTERPRISE INFLUENCE OF PEOPLE WHO FIRMLY LINKED WITH HONG KONG, AND THAT THE WERE NOT LONG-STANDING LOCAL RESIDENTS SHOULD BE RESTRICTED.
SUCH RESTRICTIONS ON BROADCASTERS WERE COMMON IN MOST DEVELOPED ECONOMIES, HE SAID.
1
"UNTIL NOW WE HAVE
PERSONS
ATTEMPTED ΤΟ (ESSENTIALLY
NON
RESTRICT THE INFLUENCE OF BY LOCAL RESIDENTS)
'UNQUALIFIED' RESTRICTING THEIR OWNERSHIP OF SHARES IN LICENSEES.
ΤΟ LEST EXCESS
"TO ENSURE EFFECTIVENESS, IT HAS ALSO
NECESSARY BEEN PROHIBIT THE OWNERSHIP OF SHARES BY NOMINEE COMPANIES UNQUALIFIED PERSONS ATTEMPT CLANDESTINELY TO ACQUIRE SHARES IN OF THAT PERMITTED.
H
HOWEVER, MR TSAO SAID THIS
MEANS OF CONTROL HAD TWO MAJOR
DRAWBACKS.
/"FIRST, FROM