TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 267

M(88)14

125

Ownership and Control of Licensee Companies

(iii) a licensee

company

shall not be permitted

to hold directly or

indirectly shares in

any

company

the

business of which is

not

directly

associated

or

connected

with

television

broadcasting;

(iv)

any subsidiary company

held by a licensee

company

shall

be

subject

to

the

approval

of

the

Broadcasting Authority

and subject to the

licensee

having a

company

majority

shareholding in the

subsidiary company and

control

over

its

management;