1989 Ed.]
Television
[CAP. 52
17
17B.*
17C. Aggregate of certain voting shares
of licensee not to exceed 49%
(1) The aggregate of the voting share of a licensee each of which is a voting share to which this section applies shall not exceed 49% of the total number of voting shares of the licensee.
(2) This section applies to a voting share of a licensee-
(a) whose relevant entry in the licensee's register contains the name of any person who is an unqualified person for the purposes of this section; and
(b) in relation to which the voting right carried by the share is for the time being exercisable as regards any question or other matter whatsoever which may be determined by a poll at any general meeting of the licensee.
(3) A person shall be an unqualified person for the purposes of this section if-
(a) in case the person is an individual, he either is not for the time being ordinarily resident in Hong Kong or has not been so resident for at least one continuous period of not less than 7 years;
(b) in the case the person is a company or other body corporate, the
body is not a company ordinarily resident in Hong Kong.
17D. 10% holding limit
(1) Subject to section 17G, the following shall not hold a relevant interest in more than 10% of the voting shares of a licensee
(a) an individual person who either is not for the time being ordinarily resident in Hong Kong or has not been so resident for at least one continuous period of not less than 7 years; and (b) a company or other body corporate which is not either a company ordinarily resident in Hong Kong or a body corporate which, by virtue of section 2(2), is to be regarded as being a company so resident.
(2) Subject to section 17G(6), where for the time being a person to whom the restriction in subsection (1) applies has a relevant interest in more than 10% of the voting shares of a licensee, notwithstanding anything contained in the articles of association of the licensee or any provision of the laws of Hong Kong apart from this subsection, he shall, as regards the licensee, be qualified, and be qualified only, to exercise, or cause to be exercised, in relation to any question
* To be added by 72 of 1988 s. 14.
1989 Ed.]
Television
[CAP. 52
17
17B.*
17C. Aggregate of certain voting shares
of licensee not to exceed 49%
(1) The aggregate of the voting share of a licensee each of which is a voting share to which this section applies shall not exceed 49% of the total number of voting shares of the licensee.
(2) This section applies to a voting share of a licensee-
(a) whose relevant entry in the licensee's register contains the name of any person who is an unqualified person for the purposes of this section; and
(b) in relation to which the voting right carried by the share is for the time being exercisable as regards any question or other matter whatsoever which may be determined by a poll at any general meeting of the licensee.
(3) A person shall be an unqualified person for the purposes of this section if-
(a) in case the person is an individual, he either is not for the time being ordinarily resident in Hong Kong or has not been so resident for at least one continuous period of not less than 7 years;
(b) in the case the person is a company or other body corporate, the
body is not a company ordinarily resident in Hong Kong.
17D. 10% holding limit
(1) Subject to section 17G, the following shall not hold a relevant interest in more than 10% of the voting shares of a licensee
(a) an individual person who either is not for the time being ordinarily resident in Hong Kong or has not been so resident for at least one continuous period of not less than 7 years; and (b) a company or other body corporate which is not either a company ordinarily resident in Hong Kong or a body corporate which, by virtue of section 2(2), is to be regarded as being a company so resident.
(2) Subject to section 17G(6), where for the time being a person to whom the restriction in subsection (1) applies has a relevant interest in more than 10% of the voting shares of a licensee, notwithstanding anything contained in the articles of association of the licensee or any provision of the laws of Hong Kong apart from this subsection, he shall, as regards the licensee, be qualified, and be qualified only, to exercise, or cause to be exercised, in relation to any question
* To be added by 72 of 1988 s. 14.
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