As the rainstorm warning has been issued by the Hong Kong Observatory, the Labour Department (LD) reminds employers and contractors that they should adopt necessary work arrangements and take suitable safety measures to protect the safety of their employees when they are carrying out electrical work or handling electrical plant.

     A spokesman for the LD said today (August 10) that employers and contractors should avoid assigning employees to carry out electrical work (like electric arc welding work) or handle electrical plant at places affected by rainstorms, and should refer to the "Code of Practice in times of Typhoons and Rainstorms" and the "Guide on Safety at Work in times of Inclement Weather" issued by the LD.

     Even if electrical work is carried out or electrical plant is handled at places not affected by the rainstorm, suitable safety measures must still be adopted to prevent electric shock as the air would be more humid. Such measures include:

(i) Ensure that all live parts of an electrical installation are isolated from the power supply source and rendered dead, and the isolation from the power supply source must be maintained as long as electrical work is being carried out;

(ii) Before carrying out any electrical work or handling any electrical plant, cut off and lock out the power supply source, then test the circuit concerned to confirm it is dead and display suitable warning notices, and issue a work permit thereafter;

(iii) Ensure that protective devices (such as suitable and adequate fuses and circuit breakers) for the electrical installations or electrical plant have been installed and maintained in good working order, and portable electric tools must be double-insulated or properly earthed;

(iv) Provide suitable personal protective equipment such as insulating gloves and insulating mats for employees; and

(v) If live electrical work is unavoidable, a comprehensive risk assessment should be conducted by a competent person and the appropriate safety precautions should be taken to remove or properly control the electrical hazards involved before such work can proceed.

     In addition, employees should co-operate with the employer or contractor to follow the safety instructions and use the safety equipment provided.

     The LD has published guidebooks and leaflets on electrical work safety. These safety publications are available free from divisional offices of the department or can be downloaded from its website (www.labour.gov.hk/eng/public/content2_8.htm).

     Should there be any questions about occupational safety and health matters, please contact the Occupational Safety Officer of the LD at 2559 2297.

Attention duty announcers, radio and TV stations:

Please broadcast the following as soon as possible and repeat it at suitable intervals:

     Members of the public are advised to report any street flooding that comes to their notice to the Drainage Services Department by calling the 24-hour drainage hotline on 2300 1110.

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) wishes to alert members of the public to a press release issued by Shanghai Pudong Development Bank Co., Ltd. on fraudulent websites, which has been reported to the HKMA. Hyperlink to the press release is available on the HKMA website for ease of reference by members of the public.
 
     Anyone who has provided his or her personal information to the websites concerned or has conducted any financial transactions through the websites should contact the bank concerned using the contact information provided in the press release, and report to the Police or contact the Cyber Security and Technology Crime Bureau of the Hong Kong Police Force at 2860 5012.

The following is issued on behalf of the Hong Kong Monetary Authority:

     HKMC Annuity Limited (HKMCA), wholly-owned by The Hong Kong Mortgage Corporation Limited (HKMC), announced today (August 10) the first tranche of HKMC Annuity Plan records a total of 9 410 registrations of Subscription Intention. The total subscription amount and the average subscription amount stand at around HK$4.94 billion and HK$525,000 respectively* (see Annex).
 
     The HKMCA officially launched the Plan on July 5, announcing the issue limit for the first tranche of the Plan would be HK$10 billion. The HKMCA confirms to satisfy the subscription demand of all of the applicants, and to fully allot all of the applicants their Intended Subscription Amounts, as the total subscription amount falls within the issue limit. The final premium amounts will however be subject to the results of the financial needs analyses.
 
     The Executive Director and Chief Executive Officer of the HKMCA, Mr Edmond Lau, said, "We are satisfied with the overall outcome of the launch of the Plan. The promotional campaign this time has encouraged widespread discussion in the community related to life annuities and other retirement financial planning products. As life annuities are relatively new long-term insurance products, the public will require more time to comprehend the concepts and features. The HKMCA will continue to implement and strengthen the promotional work, in order to increase the public understanding about life annuities, and to lay a good foundation to the development of the local annuities market."
 
     The HKMCA will complete the allotment and distribution work at the soonest, and will mail the allotment result notices to all applicants within one week starting from September 17. The HKMCA will then arrange the applicants to Agent Banks or the HKMCA Application Servicing Centre based on the random balloting results to complete the application procedures starting from late September. The HKMCA will strive to complete the distribution process by the end of October.
 
     As for the distribution of the Intended Subscription Amounts, around 30 per cent (2 854) of the applicants registered their intent to subscribe for HK$1 million. Around 54 per cent (5 126) of the applicants registered their intent to subscribe for HK$500,000 or above. Around 62 per cent (5 827) of the applicants are aged 65 to 69. Around 23 per cent (2 160) of them are aged 70 to 74. Only around 15 per cent (1 423) of them are aged 75 or above**.
 
     The Plan is an insurance product. The insured can immediately receive a guaranteed stream of fixed income after paying a single premium. The annuity is payable monthly for the whole of life of the insured. The objectives of the Plan are to provide an additional and reliable retirement financial planning option to people aged 65 or above, and to promote the development of the local annuities market.
 
     For public enquiries, please call 2512 5000.

*The above total and average subscription amounts are the preliminary figures. All the figures are subject to the verification by the HKMCA.
**The above distributions are the preliminary figures. All the figures are subject to the verification by the HKMCA.

     The second protocol to the Comprehensive Avoidance of Double Taxation Agreement between Hong Kong and New Zealand (CDTA) entered into force yesterday (August 9), a government spokesman said.

     The second protocol was signed in June last year and amends the CDTA to pave the way for implementing automatic exchange of financial account information in tax matters with New Zealand on a bilateral basis. It came into force after completion of ratification procedures on both sides, and shall have effect in respect of Hong Kong tax for any year of assessment beginning on or after April 1, 2019.