Satellite Broadcasting Act Article 5

The government and political parties, as well as foundations established with their endowments, and those commissioned by them, shall not directly or indirectly invest in satellite broadcasting businesses.Unless otherwise provided by law, the government and political parties shall not provide endowments for the establishment of a satellite broadcasting business.Existing situations involving the government, political parties, as well as foundations established with their endowments, and those commissioned by them, that do not meet the provisions of one of the preceding two Paragraphs prior to the implementation of the revision of this Act, shall be corrected within two years of the implementation of this Act.Political party workers, political appointees, and elected public officials shall not invest in satellite broadcasting businesses. Total shareholdings by their spouses, relatives by blood within the second degree of relationship, and lineal relatives by marriage, shall not exceed 1 percent of the issued shares of a satellite broadcasting business. Existing situations involving satellite broadcasting businesses that do not meet these provisions prior to the implementation of the revision of this Act shall be corrected within two years of the implementation of the revision of this Act.The government, political parties, political workers, and elected public officials shall not be promoters, directors, supervisors, or managerial officers of a satellite broadcasting business. Those who hold these positions prior to the implementation of the revision of this Act shall be relieved of their duties by the satellite broadcasting business within six months of the implementation of the revision of this Act.The scope of political party workers, political appointees, and elected public officials mentioned in the preceding two Paragraphs shall be defined in the Enforcement Rules of this Act.