TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 269

M(88) 14

(viii) not

127

more than 10% of

the issued shares in a

licensee company shall

be owned or controlled

by any single foreign

shareholder (the 10%

rule);

(ix)

where

a

foreign

shareholder owns

or

has an interest in 2%

or more of the issued

shares in a licensee

company, the licensee

shall forthwith notify

and seek approval from

the

Broadcasting

Authority

(the 2%

rule);

(x)

any

shareholder

foreign

holding

in

a

interests

licensee company or

its holding company

exceeding the above

levels on 24 November

1987 may apply to the

Broadcasting

Authority