Section 35

A person must not, on or after 2 September 2002, become a substantial shareholder of a broadcasting company without first obtaining the approval of the Minister.

Subject to section 37(4), a person who, immediately before 2 September 2002, is a substantial shareholder of a broadcasting company must not continue to be a substantial shareholder unless the person has, within 6 months after 2 September 2002 or any longer period that the Minister may allow, applied to the Minister for approval to continue to be a substantial shareholder.

A person must not, on or after 2 September 2002, enter into any agreement or arrangement, whether oral or in writing and whether express or implied, to act together with any other person with respect to the acquisition, holding or disposal of, or the exercise of rights in relation to, their interests in voting shares of an aggregate of more than 5% of the total votes attached to all voting shares in a broadcasting company without first obtaining the approval of the Minister.

Subject to section 37(4), a person who, at any time before 2 September 2002, has entered into any agreement or arrangement mentioned in subsection (3) must not continue to be a party to the agreement or arrangement unless the person has, within 6 months after 2 September 2002 or any longer period that the Minister may allow, applied to the Minister for approval to continue to be a party to the agreement or arrangement.

For the purposes of this section, a person has an interest in any share if —