XN000022-1988-03-15 — Page 3

IN

2

TUESDAY, MARCH 15, 1988

+

ANY

SINGLE

* NOT MORE THAN 10 PER CENT OF THE ISSUED SHARES IN A

BE

OR CONTROLLED BY SHALL

OWNED COMPANY SHAREHOLDER (THE 10 PER CENT RULE);

LICENSEE FOREIGN

PER

* WHERE A FOREIGN SHAREHOLDER OWNS OR HAS INTEREST IN TWO

THE LICENSEE CENT OR MORE OF THE ISSUED SHARES IN A LICENSEE COMPANY,

APPROVAL FROM THE BROADCASTING FORTHWITH SHALL AUTHORITY (THE TWO PER CENT RULE);

NOTIFY AND

HIS ON

SEEK

INTERESTS

IN A LICENSER LIMITS MAY APPLY TO WHICH HE HAD AS AT

THE

MADE GOVERNMENT

* ANY FOREIGN SHAREHOLDER HOLDING COMPANY OR ITS HOLDING COMPANY EXCEEDING THESE

SHAREHOLDING THE AUTHORITY TO RETAIN

THIS DATE WHEN NOVEMBER 24, 1987 (IT WAS

ISSUE OF FOREIGN OWNERSHIP). PUBLIC ITS INTENTION TO DEAL WITH THE HOWEVER, IF HIS SHAREHOLDING WERE TO BE REDUCED IN NOT BE PERMITTED TO REBUILD KIS WITH THE NEW RULES;

* NO LIMIT SHALL

BE

OTHER HOLDING,

FUTURE, HE WOULD THAN IN ACCORDANCE

PERCENTAGE

IMPOSED ON THE MAXIMUM SHARES AN INDIVIDUAL CAN HOLD IN A LICENSEE COMPANY PROVIDED THAT AND ORDINARILY RESIDENT INDIVIDUAL IS A PERMANENT RESIDENT OF, HONG KONG; AND

OF

THE

IN,

COMPANY SHALL BE

* A MAJORITY OF THE DIRECTORS OF A LICENSEE PERMANENT RESIDENTS OF, AND ORDINARILY RESIDENT IN, HONG KONG.

TELEVISION STATIONS, THE

ON FOREIGN OWNERSHIP AND CONTROL OF AUTHORITY NOTED THAT LEGISLATION IN MANY OVERSEAS AUSTRALIA, U.K., U.S.A. AND NEW ZEALAND WAS MUCH PROPOSED BY THE AUTHORITY.

COUNTRIES SUCH AS STRICTER THAN THAT

HOLDER OF A IT RECOMMENDED THAT A LOCAL PERSON SHOULD BE THE

ORDINARILY AND

RESIDENT IN HONG PERMANENT HONG KONG IDENTITY CARD KONG. ANYONE WHO FAILED TO MEET THAT CRITERIA WOULD BE REGARDED "FOREIGNER" FOR THE PURPOSES OF THE TELEVISION ORDINANCE. AND CASE OF COMPANIES, A LOCAL COMPANY WOULD BE CONTROLLED BY WERE PERMANENT RESIDENTS AND ORDINARILY RESIDENT IN HONG KONG.

MR TSAO SAID THAT THE TERMS AND CONDITIONS OF THE

THROUGHOUT THE MID-TERM REVIEW IN 1994.

ACCEPTED, WERE INTENDED PERIOD. THERE SHOULD BE A

TO APPLY

AS A

IN

THE

WHO

PEOPLE

LICENCE,

12-YEAR

IF LICENCE

13