XN000022-1991-04-24 — Page 15

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