TNAG-0351-FCO40-387-Future-of-broadcasting-in-Hong-Kong-1972 — Page 50

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registering the transfer of any of the

voting shares of the company, contravenes

paragraph (b)(i) of section 11(1) the

company shall -

(a) notify forthwith the Television

Authority and also the secretary

of any recognized stock exchange

in the Colony with which its

voting shares are listed; and

(b) refuse to register the transfer of

any other of its voting shares to

any person or company not ordin-

arily resident in Hong Kong until

such time as the Television

Authority is satisfied that not

less than 51 per cent of the voting

shares of the company are

beneficially owned by persons or

companies ordinarily resident in

Hong Kong.

(3)

On the application of a licensee

the Governor in Council may approve the

assignment of its licence to any other

company competent to apply for a licence

subject to such conditions as may be specified

by the Governor in Council.