47 U.S.C. § 763: General criteria to ensure a pro-competitive privatization of INTELSAT and Inmarsat

INTELSAT as soon as practicable, but no later than April 1, 2001 ; and Inmarsat as soon as practicable, but no later than July 1, 2000 . an ownership interest in INTELSAT or the successor or separated entities of INTELSAT; or more than minimal ownership interest in Inmarsat or the successor or separated entities of Inmarsat. privileged or immune treatment by national governments; privileges or immunities or other competitive advantages of the type accorded INTELSAT and Inmarsat and their signatories through the terms and operation of the INTELSAT Agreement and the associated Headquarters Agreement and the Inmarsat Convention; and preferential access to orbital locations. During the transition period prior to privatization under this subchapter, INTELSAT and Inmarsat shall be precluded from expanding into additional services. shall be conducted, for the successor entities of INTELSAT, on or about June 30, 2005 , except that the Commission may extend this deadline in consideration of market conditions and relevant business factors relating to the timing of an initial public offering, but such extensions shall not permit such offering to be conducted later than December 31, 2005 ; and shall be conducted, for the successor entities of Inmarsat, not later than June 30, 2005 , except that the Commission may extend this deadline to not later than December 31, 2004 . The shares of any successor entities and separated entities shall be listed for trading on one or more major stock exchanges with transparent and effective securities regulation. A majority of the members of the board of directors of any successor entity or separated entity shall not be directors, employees, officers, or managers or otherwise serve as representatives of any signatory or former signatory. No member of the board of directors of any successor or separated entity shall be a director, employee, officer or manager of any intergovernmental organization remaining after the privatization. have a board of directors with a fiduciary obligation; have no officers or managers who are officers or managers of any signatories or former signatories; and have no directors, officers, or managers who hold such positions in any intergovernmental organization. Any transactions or other relationships between or among any successor entity, separated entity, INTELSAT, or Inmarsat shall be conducted on an arm’s length basis. the successor entity has achieved substantial dilution of the aggregate amount of signatory or former signatory financial interest in such entity; any signatories and former signatories that retain a financial interest in such successor entity do not possess, together or individually, effective control of such successor entity; and no intergovernmental organization has any ownership interest in a successor entity of INTELSAT or more than a minimal ownership interest in a successor entity of Inmarsat; the successor entity provides such financial and other information to the Commission as the Commission may require to verify such certification; and the Commission determines, after notice and comment, that the successor entity is in compliance with such certification. For purposes of subparagraph (F), the term “substantial dilution” means that a majority of the financial interests in the successor entity is no longer held or controlled, directly or indirectly, by signatories or former signatories. Any successor entity or separated entity created after March 17, 2000 , shall apply through the appropriate national licensing authorities for international frequency assignments and associated orbital registrations for all satellites. have effective laws and regulations that secure competition in telecommunications services; are signatories of the World Trade Organization Basic Telecommunications Services Agreement; and have a schedule of commitments in such Agreement that includes non-discriminatory market access to their satellite markets.