XN000022-1988-11-18 — Page 7

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FRIDAY, NOVEMBER 18, 1988

FOR A COMPANY

RESIDENT IN HONG KONG" AMENDED.

"QUALIFIED"

J

TO BE

IT MUST BE "ORDINARILY AS DEFINED IN THE TELEVISION ORDINANCE AS

A

UNDER THE NEW PROVISIONS A LICENSEE IS PROHIBITED FROM BEING SUBSIDIARY OF ANOTHER COMPANY AND IS RESTRICTED IN THE INTERESTS WHICH IT MAY HOLD IN OTHER BUSINESSES.

THE NEW LEGISLATION ALSO UPDATES THE FINANCIAL PENALTIES WHICH THE BROADCASTING AUTHORITY MAY IMPOSE ON A TELEVISION COMPANY FOR OBSERVING THE LICENCE CONDITIONS OR THE PROVISIONS OF THE TELEVISION ORDINANCE, AND INTRODUCES THE MORE SEVERE SANCTION OF SUSPENSION OF A LICENCE FOR UP TO 30 DAYS.

A GOVERNMENT SPOKESMAN SAID CERTAIN SECTIONS OF THE ORDINANCE WOULD NOT COME INTO OPERATION IMMEDIATELY.

"THE NEW SYSTEM FOR CALCULATING THE ROYALTY WHICH A LICENSEE MUST PAY FOR ITS PRIVILEGED USE OF THE AIR-WAVES WILL START ON JANUARY 1, 1989.

"THE OVERALL 49 PER CENT LIMIT ON THE PROPORTION OF THE VOTING SHARES OF A LICENSEE COMPANY THAT MAY BE HELD BY "UNQUALIFIED" SHAREHOLDERS WILL NOT COME INTO EFFECT FOR SIX MONTHS.

"THIS IS TO ALLOW TIME UNDER OTHER PROVISIONS OF THE NEW LEGISLATION FOR A LICENSEE ΤΟ ASK FOR INFORMATION FROM ITS SHAREHOLDERS ON THEIR RESIDENTIAL STATUS, SHAREHOLDINGS,

ETC," THE SPOKESMAN SAID.

FINANCIAL SECRETARY VISITS MARINE DEPARTMENT

* * * *

THE FINANCIAL SECRETARY, MR PIERS JACOBS, VISITED THE

AND THE CUSTOMS AND EXCISE DEPARTMENT THIS

DEPARTMENT AFTERNOON.

ON ARRIVAL AT THE MARINE DEPARTMENT, MR JACOBS WAS YET

OF MARINE, MR DERICK HALL, AND SENIOR STAFF

DIRECTOR DEPARTMENT.

MR JACOBS WAS BRIEFED ON VARIOUS ASPECTS OF THE WORK MARINE DEPARTMENT INCLUDING FORT PLANNING, THE ESTABLISHMENT NEW SHIPPING REGISTER AND THE VESSEL TRAFFIC MANAGEMENT SCHEME.

MARINE (FRIDAY)

BY

OF

THE THE

OF THE OF THE

HE ALSO WATCHED A NEWLY PRODUCED DOCUMENTARY FILM ON THE OF HONG KONG.

PORT

MR JACOBS LATER PROCEEDED TO THE CUSTOMS AND EXCISE DEPARTMENT IN THE SAME BUILDING AND WAS MET BY THE COMMISSIONER OF CUSTOMS EXCISE, MR PATRICK WILLIAMSON, AND HIS STAFF.

AND

HE WAS BRIEFED ON VARIOUS ASPECT ONE OFERATION OF THE CUSTOMS AND EXCISE SERVICE.

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