Clause 3

In this Part —“30% controller”, in relation to a regulated person or an independent entity mentioned in section 69A, means a person who, alone or together with the person’s associates —

holds 30% or more of the total equity interests in the regulated person or independent entity; or

is in a position to control 30% or more of the voting power in the regulated person or independent entity;“business trust” has the meaning given by section 2 of the Business Trusts Act 2004;“corporation” has the meaning given by section 4(1) of the Companies Act 1967;“designated media licensee” means a media licensee —

that is designated by the Authority to be a media licensee for the purposes of this Part; or

that is within a class of media licensees designated by the Authority to be a class of media licensees for the purposes of this Part,and the designation must be notified in the Gazette;“director” has the meaning given by section 4(1) of the Companies Act 1967;“effective control”, in relation to a regulated person or an independent entity mentioned in section 69A, means the ability to cause the regulated person or independent entity to take, or to refrain from taking, a major decision regarding the management or operations of the regulated person or independent entity;“entity” means any sole proprietorship, partnership, corporation or other body of persons, whether corporate or unincorporate, and includes a trust;“equity interest” means —

in relation to a corporation — a voting share in that corporation;

in relation to a business trust — a unit in that business trust; and

in relation to any other entity other than a corporation or business trust — any right or interest, whether legal or equitable, in that entity, by whatever name called, which gives the holder of that right or interest voting power in that entity;“media licensee” means —

a person to whom a permit is granted under section 21, 22 or 23 of the Newspaper and Printing Presses Act 1974;

a holder of a broadcasting licence granted under section 8 or 9 of the Broadcasting Act 1994; or

a holder of a licence granted under section 7 of the Films Act 1981;“Official Receiver” has the meaning given by section 2(1) of the Insolvency, Restructuring and Dissolution Act 2018;“regulated person” means —

a corporation which publishes a newspaper, the publication of which is authorised under a newspaper permit, including a newspaper company; or

the holder of a broadcasting licence or an entity whose business is regulated by a broadcasting licence, including a trust,that is specified by the Minister, by notification in the Gazette, to be a regulated person;“related corporation” has the meaning given by section 4(1) of the Companies Act 1967;“share” has the meaning given by section 4(1) of the Companies Act 1967;“subscriber” means an end-user that subscribes to a media service from a media licensee;“treasury share” has the meaning given by section 4(1) of the Companies Act 1967;“trustee-manager” has the meaning given by section 2 of the Business Trusts Act 2004;“unit” has the meaning given by section 2 of the Business Trusts Act 2004;“unitholder” has the meaning given by section 2 of the Business Trusts Act 2004;“voting share” has the meaning given by section 4(1) of the Companies Act 1967.(2) For the purposes of this Part, in relation to a regulated person which is a corporation the whole or any portion of the share capital of which consists of stock, an interest of a person in any such stock is deemed to be an interest in an issued share in the regulated person having the same nominal amount as the amount of that stock and having attached to it the same rights as are attached to that stock.(3) For the purposes of this Part, a reference to control of a percentage of the voting power in a regulated person is a reference to control of that percentage of the total number of votes that may be cast in —

a general meeting of the regulated person;

in the case of a regulated person that is a business trust — a general meeting of the unitholders of the business trust; or

in the case of a regulated person that is a trust other than a business trust — a general meeting of the beneficiaries of the trust in question.(4) For the purposes of subsection (3), any control of any voting power by a person in a regulated person is not to be regarded as control of voting power by the person if it is exercisable in the following capacities of the person:

by virtue of the person holding an equity interest in the regulated person as a bare trustee;

if the person’s ordinary business includes the lending of money, by virtue of the person holding an equity interest in the regulated person only by way of security for the purposes of a transaction entered into in the ordinary course of business in connection with the lending of money;

if the person’s ordinary business includes the underwriting of securities, by virtue of the person holding an equity interest in the regulated person only as an underwriter or a sub‑underwriter to any offering of equity interests in the regulated person;

by virtue of the person having been appointed a proxy or representative to vote at a general meeting mentioned in subsection (3);

in the person’s capacity as a liquidator, the Official Receiver, the Official Assignee or the Public Trustee;

by reason of the person holding such other office as may be prescribed for the purposes of section 7(9)(c) of the Companies Act 1967.(5) In this Part —

a reference to the business of an entity that is a business trust means the business carried on by the trustee‑manager of the business trust on behalf of the business trust; and

a reference to the business of an entity that is a trust (other than a business trust) means the business carried on by the trustee of the trust on behalf of the trust.”.