TNAG-1818-FCO40-2579-Broadcasting-in-Hong-Kong-1988 — Page 171

C646

Particulars required as regards

application to register

allotments, etc.

TELEVISION (AMENDMENT) BILL 1988

(b) Without affecting the generality of paragraph (a

but subject to subsection (5)(b), section 17D(2) shall not have effect in relation to the exercise of any voting right attached to a share to which a permis- sion under this section relates.

(7) (a) Where a person has a relevant interest in voting shares of a licensee in contravention of the require- ments of section 17D and the person is registered in the licensee's register as the holder of the shares (whether by virtue of a transfer in relation to which an approval should have been but was not obtained under section 17E(2) or otherwise), the Broad- casting Authority may serve on the person a notice in writing requiring the person, within a period specified in the notice and beginning on the date thereof (being a period of not less than 60 days), to transfer or otherwise dispose of so many of the shares as are necessary to effect a cesser of the con- travention.

(b) Where

(i) a licensee holds shares in contravention of section 17A(1) or as a result of acquiring an interest in a company for which an approval was required by section 17A(2) but was not obtained; or

(ii) a person to whom the restriction in section 17B applies has a relevant interest in any voting shares of a licensee and the person is registered in the licensee's register as the holder of the shares, the Broadcasting Authority may serve on the licen- see or other person, as may be appropriate, a notice in writing requiring the person, within a period specified in accordance with the requirements in that regard in paragraph (a), to transfer or otherwise dispose of the shares.

(8) (a) Where a notice under subsection (7)(a) is served on a person, the person may apply to the Broadcast- ing Authority for an extension, or a further exten- sion, of the period within which the requirements of the notice are to be complied with.

(b) Where an application is made under this subsection the Broadcasting Authority shall only grant an extension or further extension if it is satisfied that, having regard to the circumstances of the case, the application is reasonable.

(9) Where a notice under subsection (7) is served on a person, subject to subsection (8), the person shall comply with the requirements of the notice.

17H. (1) Where an application is made to register an allotment, issue or transfer of voting shares of a licensee, the following provisions shall apply—

(a) the person making the application shall deliver with the application a declaration signed by him or on his