Radio Regulations, 1986 — 11
ns in which (a) the person is, directly or indirectly, the beneficial owner of the voting interest; or (b) the person, by means of an arrangement, a contract, an understanding or an agreement, determines the manner in which the interest is voted but the solicitation of proxies or the seeking of instructions with respect to the completion of proxies in respect of the exercise of voting interests is not considered to be such an arrangement, contract, understanding or agreement. (3) For the purposes of this section, effective control of a licensee or its undertaking includes situations in which (a) a person controls, directly or indirectly, other than by way of security only, a majority of the voting interests of the licensee; (b) a person has the ability to cause the licensee or its board of directors to undertake a course of action; or (c) the Commission, after a public hearing of an application for a licence, or in respect of an existing licence, determines that a person has such effective control and sets out that determination in a decision or public notice. (3.1) [Repealed, SOR/2000-235, s. 3] (4) Except as otherwise provided pursuant to a condition of its licence, a licensee shall obtain the prior approval of the Commission in respect of any act, agreement or transaction that directly or indirectly would result in (a) a change by whatever means of the effective control of its undertaking; (b) a person alone (i) who controls less than 30 per cent of the voting interests of the licensee, having control of 30 per cent or more of those interests, (ii) who controls less than 30 per cent of the voting interests of a person who has, directly or indirectly, effective control of the licensee, having control of 30 per cent or more of those interests, (iii) who owns less than 50 per cent of the issued common shares of the licensee, owning 50 per cent or more of those shares but not having, directly or indirectly, effective control of the licensee, or (iv) who owns less than 50 per cent of the issued common shares of a person who has, directly or indirectly, effective control of the licensee, owning 50 per cent or more of those shares but not having, directly or indirectly, effective control of the licensee; (c) a person together with an associate (i) who control less than 30 per cent of the voting interests of the licensee, having control of 30 per cent or more of those interests, (ii) who control less than 30 per cent of the voting interests of a person who has, directly or indirectly, effective control of the licensee, having control of 30 per cent or more of those interests, (iii) who own less than 50 per cent of the issued common shares of the licensee, owning 50 per cent or more of those shares but not having, directly or indirectly, effective control of the licensee, or (iv) who own less than 50 per cent of the issued common shares of a person who has, directly or indirectly, effective control of the licensee, owning 50 per cent or more of those shares but not having, directly or indirectly, effective control of the licensee; or (d) another A.M. licensee, F.M. licensee or digital radio licensee that broadcasts in the same market and in the same language as the licensee, an associate of that other licensee or that other licensee together with its associate, who owns less than (i) 30% of the issued common shares of the licensee or of a person who has, directly or indirectly, effective control of the licensee, owning 30% or more but less than 40% of those shares, or (ii) 40% of the issued common shares of the licensee or of a person who has, directly or indirectly, effective control of the licensee, owning 40% or more but less than 50% of those shares. (5) A licensee shall notify the Commission, within 30 days thereafter, of the occurrence of any act, agreement or transaction that, directly or indirectly, resulted in (a) a person alone (i) who controls less than 20 per cent of the voting interests of the licensee, having control o