Singapore legislation

Section 44

of Broadcasting Act 1994

Section 44

Broadcasting company owned by foreign source

(1)

A company must not, unless the Minister otherwise approves, be granted or hold a relevant licence if the Minister is satisfied that —

(a)

any foreign source, alone or together with one or more other foreign sources —

(i)

holds at least 49% of the shares in the company or its holding company; or

(ii)

is in a position to control voting power of at least 49% in the company or its holding company; or

(b)

all or a majority of the persons having the direction, control or management of the company or its holding company are —

(i)

appointed by; or

(ii)

accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of,any foreign source, whether acting alone or together with one or more other foreign sources.

(2)

Where the Minister does not grant his or her approval under subsection (1) for a company to hold a relevant licence (whether the licence is granted before, on or after 2 September 2002), the Authority must, within such time and in such manner as the Minister may specify, cancel the licence by written notice and without any compensation.

(3)

For the purposes of this section —

(a)

a person holds a share if —

(i)

the person is deemed to have an interest in that share under section 7(6) to (10) of the Companies Act 1967; or

(ii)

the person otherwise has a legal or an equitable interest in that share except for any interest that is to be disregarded under section 7(6) to (10) of the Companies Act 1967;

(b)

a reference to the control of a percentage of the voting power in a broadcasting company is a reference to the control, whether direct or indirect, of that percentage of the total number of votes that might be cast in a general meeting of the broadcasting company.

Read in full context — Broadcasting Act 1994 →