TNAG-1734-FCO40-2447-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 226

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(ii) the prohibition on the licensee company being

held by a holding company and restrictions on

ownership of subsidiary companies by the licensee

themselves

company; and

(iii) the question of royalty,

Ownership and control

Sir,

Jon the subject of ownership and control,

-

the

object of the legislative proposals is to ensure that majority interests remain in the hands

in the hands of Hong Kong

people. That control of television licencees should be in 'local' hands is an objective shared by many countries overseas. The restrictions on foreign ownership applied

elsewhere Australia and New Zealand spring immediately

to mind - are often considerably more stringent than those

we are

are proposing to apply.

apply, In addition, in other

countries, one or more channels may be reserved

exclusively for a public broadcaster or indeed

broadcasting may be entirely in the hands of a public

broadcaster.

There is nothing new in Hong Kong in the concept of restricting the holding of voting shares of a licensee by persons or companies which do not satisfy certain residential qualifications. Such provisions are enshrined

in the existing Ordinance.

(Similarly, there