TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 23

(i) at least 2 per cent of,

but less than 4 per cent of, the

voting shares of the licensee; or

(ii)

at least 4 per cent of,

but less than 6 per cent of, such

voting shares; or

(iii) at least 6 per cent of,

but less than 8 per cent of, such

voting shares; or

(iv)

8 per cent or more of

such voting shares; and

(c)

by reason only of the allotment,

issue or transfer, as may be

appropriate, the shares to which

the allotment, issue or

application relates or, as may be

appropriate, the aggregate

referred to paragraph (b) comes

within a limit specified in

paragraph (b)(i), (ii), (iii) or

(iv),

the licensee, whether or not, in the case of

such an application, the application has