TNAG-1819-FCO40-2580-Public-opinion-in-Hong-Kong-Commissioner-for-Administrative--1988 — Page 68

A450

Ord. No. 72/88

TELEVISION (AMENDMENT)

(b) grant such a permission as regards some only of the shares described in paragraph (a) and specify in the permission, by reference to a certificate number or otherwise, the particular shares to which the permis- sion relates; or

(c) refuse to grant a permission.

(5) (a) Where the Broadcasting Authority gives a per- mission under subsection (4), it may declare that paragraph (b) is to apply to all or any of the shares to which the permission relates.

(b) Where a declaration under paragraph (a) is made by the Broadcasting Authority, subsection (6)(b) shall not apply as regards any share to which the declara- tion relates.

(6) (a) Where a permission under this section is gran- ted by the Broadcasting Authority, then for so long, but only for so long, as the applicant for the permission continues to have a relevant interest in a share to which the permission relates, this Ordin- ance shall not be regarded as being contravened in so far, and only in so far, as it applies to the share or to the applicant's having a relevant interest in the share.

(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 solely or jointly), the Broadcasting Au- thority 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 contravention.

(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(1)(a) applies has an interest in any voting shares of a licensee and the person is registered in the licensee's register as the holder of the shares,