Divestment of Shares in Terrestrial Television Act Article 11

The supervisory agency, after determining which terrestrial television enterprises to make public, shall draw up a budget with which to purchase shares from government-invested enterprises, is not subject to the provisions of Article 5 of the Radio and Television Act.Government agencies making a conditional donation of shares in publicly operated terrestrial television enterprises to the Public Television Service Foundation (henceforth “the Public Television Service Foundation”) are not subject to the provisions of Article 5 of the Radio and Television Act, Article 25 of the Budget Act, Article 28 or Article 60 of the National Property Act, or Article 413 of the Civil Code.The Public Television Service Foundation, after being invested with shares in publicly operated terrestrial television enterprises, is to hold an ad hoc meeting of shareholders to elect directors and supervisors.The directors and supervisors of the Public Television Service Foundation are to represent the foundation as well as act as directors and supervisors of the publicly operated terrestrial television enterprises, and shall not be subject to the provisions of Paragraph 3 of Article 14 the Public Television Act.