13.
Exemption from taxation
The Corporation and its wholly owned subsidiaries shall not be
subject to taxation under the Inland Revenue Ordinance (Cap. 112).
14.
Exemption from licensing
The Corporation and its wholly owned subsidiaries are exempt
from the requirement to hold a licence under section 8 or a permit
under section 9 of the Telecommunication Ordinance (Cap. 106).
Wholly owned subsidiaries
15. Power to establish wholly owned subsidiaries
(1) The Corporation may for the furtherance of its objects and
with the consent of the Secretary acquire or form or take part in
the acquisition or formation of companies as wholly owned
subsidiaries.
(2) The Corporation shall not transfer any of its interest in
any wholly owned subsidiary to a person other than
(a)
(b)
another wholly owned subsidiary of the Corporation; or
a person who is to hold such interest as a nominee of
the Corporation or of a wholly owned subsidiary of
the Corporation,
except with the consent of, or in accordance with a general
authorization given by, the Secretary.
16. Control of wholly owned subsidiaries
(1) This section applies with respect to any wholly owned
subsidiary of the Corporation.
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