TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 52

(2) A person is not by virtue of

section 13 (4)(b) to be taken as having a

relevant interest in shares by reason only

of the fact that he has been appointed a

proxy to vote at a specified meeting of a

licensee or other company or of any class of

its members and at any adjournment of that

meeting, or has been appointed by a

corporation to act as its representative at

any meeting of a licensee or other company

or of any class of its members.

(3) The conditions referred to in

subsection (1)(c) are, in relation to a

settlement

<

(a) that it is irrevocable; and

(b)

that the settlor has no interest

in any income arising under, or

property comprised in, the

settlement.

(4)

An interest in shares is an exempt

security interest for the purpose of

subsection (1) (d) if it is held -

(1)(d)

(a)

by a person who is -