TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 224

Title: Management of Television Broadcasting (dated 19.3.1988)

Author: TONG Yuk-hon

Kong has

Since its existence, Television Ordinance of Hong

always required that the majority of the

Directors and principal administrators of

television companies shall be British nationals residing

last amendment in 1980 added the

Executive

in Hong

Hong Kong.

The

provision that after the fourth year of the award of the

broadcasting licences, at least 51% of the shares of

television companies shall be beneficially held by local

residents or organisations. This additional provision on

the not replace the requirement that

Executive

shareholding does

majority of

Directors

administrators

shall

be

British

and principal

nationals.

The

co-existence of these two provisions in the existing

Television Ordinance therefore lay down both nationality

and residence requirements.

2.

Shareholding in television companies has two

implications: first, the profits of television companies

are distributed in accordance with the number of shares a

shareholder holds; secondly, because of legislation

relating

the incorporation, company

majority

shareholders

to

can appoint the principal administrators and