Electronic and Postal Communication (Licensing)
G.N. No. 430 (contd)
Contradiction
of specific
Regulations
16.
Where any provision of these Regulations is
incompatible with any provision of Regulations issued in
relation to a specific licensed service, the provisions of the
specific licensed service shall prevail.
PART III
SPECIFIC CONDITIONS
Individual Licences
Business plan
requirements
17.
An applicant for individual licence shall be
required to submit to the Authority a business plan together with
other documents as provided for under the Act.
Shareholding
requirements
18.-(1) An applicant shall be required when applying for
a licence to submit the following shareholding requirements as
ongoing obligation throughout the licence period, for approval by
the Authority(a) in the case of Network Facilities Licence, Network
Services Licence, Application Services Licence,
Subscription Content Services Licence, Support
Service for Subscription Content Services Licence
or Postal Service Licence, submit a list of
shareholders local, foreign or both with the
respective percentages.
(b) in the case of Content Services Licence for free to
air broadcasting, the applicant a list of shareholders
with a minimum of fifty one percent local
ownership; or
(c) in the case of a licensee who is listed with the stock
exchange, the minimum local shareholding shall be
in accordance with the provisions of the Capital
Market and Securities Act and its Regulations.
(2) An applicant, when applying for a licence or
changing shareholding, shall submit to the Authority certified
copies of share certificates of its shareholders.
(3) Prior to transfer of shares, a licensee shall be required
to submit to the Authority:
Cap.79
193