TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 221

Title: Conditions for having a Controlling Share (dated

18.3.1988)

Author: TONG Yuk-hon

The first Television Ordinance was enacted in

1964. The original Bill provided that "not less than 60%

of the voting shares (of a television company) shall be

beneficially owned by British nationals ordinarily

resident in Hong Kong". After deleting this provision,

the Bill was passed after the third reading. However, the

Ordinance contains the following provisions:

the majority of the Directors shall be British

nationals ordinarily resident in Hong Kong; and

the

principal officers, including those

responsible for selecting programmes, shall be

British nationals ordinarily resident in Hong

Kong.

2.

fact that

the Despite

Ordinance had

amended several times in the past, the above two

provisions have been retained. If the majority of the

the

been

Directors

of

a

company

were British

nationals,

the

majority of the shares would likely be held by British

nationals.