No. 3 Requirement on shareholders Electronic and Postal Communications 2010 31 26.(1) Notwithstanding any provision of any other law, a company incorporated in the United Republic holding an individual or class licence under this Act shall be required(a) in the case of electronic communication or postal licensee where the shareholding structure has a minimum local shares holding requirements as an ongoing obligation throughout the life of the licence; and (b) in the case of content service licensee where the local shareholding structure has a minimum of fifty one per cent of the shares as an ongoing obligation throughout the life of the licence. (2) The Minister shall, in consultation with the Authority, make regulations prescribing the minimum local shareholding requirement and procedure for approval and transfer of shares of electronic communications and postal licence. Cap .79 (3) Existing licensee of Network Facilities, Network Services, Application Services or Content Services shall, notwithstanding the provisions of any other written law to the contrary, within three years from the commencement of this Act, and in accordance with requirements of the Capital Market and Securities Act, be required to offer shares to the public and subsequently list with the stock exchange. (4) Any person licensed as Network Facilities, Network Services, Application Services or Content Services after commencement of this Act shall be required to offer shares to the public and subsequently list with the Stock Exchange in accordance with the requirement of the Capital Markets and Securities Act within three years from the date of grant of the licence. (b) Interconnection and access Interconnection 27. The Authority shall(a) regulate all interconnection arrangements between