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Draft on Media Ownership Nears Completion
Civil Georgia, Tbilisi / 12 Mar.'11 / 12:15

There is “an agreement in principle” that a draft law on broadcasters' ownership transparency will also reflect provision to secure transparency of broadcasters’ finances, lawmakers from ruling party and parliamentary minority said on March 11.

An exact wording has yet to be formulated, which is expected at a hearing of the parliamentary committee on sector economy next week. After that the final draft will be discussed at the parliamentary session with its second reading.

On December 7 the Parliament approved with its first hearing the amendments to the law on broadcasting, which bans offshore-registered companies to own shares in the Georgian broadcasters. Though since then, the discussion of the issue was postponed several times because of disagreement on financial transparency issues with the parliamentary minority insisting on inclusion in the draft a provision securing financial auditing of broadcasters based on international accounting standards and making audit report public.

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