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