TNAG-1817-FCO40-2578-Broadcasting-in-Hong-Kong-1988 — Page 82

Sections 10(j), 11(1)(b), 11(1)(d) and

11A(4) are repealed.

(2) Section 25A(1) is amended by repealing "at such

time as may be specified by the Broadcasting Authority".

Explanatory Memorandum

The purpose of this Bill is to amend and extend

the law relating to television. Its provisions, if

enacted, will result in the following major changes in the

law as it is at present

(a)

(b)

not more than 49% of the voting rights carried by

the shares in a licensed television broadcasting

company (a "licensee") will be allowed to be

exercised by persons or companies which do not

satisfy certain residential or other criteria

contained in the Bill - clause 13 (section 17C),

(at present not less than 25% of the voting

shares of a licensee are required to be

beneficially owned by persons or companies

ordinarily resident in Hong Kong);

a company or other person who does not satisfy

certain residential or other criteria will not be

able to hold more than 10% of the voting shares