The Government published in the Gazette today (May 6) the Merchant Shipping (Safety) (Amendment) Ordinance 2009 (Commencement) Notice 2022.
 
     The Secretary for Transport and Housing has designated July 1, 2022, as the day on which the remaining non-commenced provisions of the Merchant Shipping (Safety) (Amendment) Ordinance 2009 (the Amendment Ordinance) come into operation.
 
     The remaining non-commenced provisions are mainly technical amendments, including the alignment of the relevant requirements with the International Convention for the Safety of Life at Sea and the International Convention on Load Lines through Direct Reference Approach, the removal or replacement of outdated references with colonial connotation, and some other minor and consequential amendments. The Amendment Ordinance was enacted by the Legislative Council on June 24, 2009.
 
     The Commencement Notice will be tabled at the Legislative Council for negative vetting on May 11, 2022.

     The Government published in the Gazette today (May 6) three pieces of subsidiary legislation, namely the Financial Reporting Council (Amendment) Ordinance 2021 (Commencement) Notice (Commencement Notice), the Accounting and Financial Reporting Council (Transitional and Saving Provisions and Consequential Amendments) Regulation and the Accounting and Financial Reporting Council Ordinance (Amendment of Schedule 3B) Notice 2022 (Schedule 3B Amendment Notice), for the commencement of the new regulatory regime of the accounting profession.

     The Financial Reporting Council (Amendment) Ordinance 2021 (Amendment Ordinance), which was enacted by the Legislative Council on October 22, 2021, enables the Financial Reporting Council to become a full-fledged independent regulatory body for the accounting profession under the new name of Accounting and Financial Reporting Council (AFRC) with expanded statutory functions. These functions include the issuance of practising certificates to certified public accountants; registration of accounting practice units and local Public Interest Entities auditors; and inspection, investigation and discipline of the accounting profession. The AFRC will also oversee the Hong Kong Institute of Certified Public Accountants (HKICPA)'s performance in its various statutory professional functions.

     The Commencement Notice seeks to appoint October 1, 2022, as the commencement date for the Amendment Ordinance, except for the provisions relating to the establishment of the statutory Advisory Committee under the AFRC and the Secretary for Financial Services and the Treasury's power to make transitional and saving provisions consequent on the Amendment Ordinance by regulation which will commence in advance on July 4, 2022. The Regulation seeks to provide for the transitional arrangements for the handling of pending or ongoing cases upon commencement of the new regime to ensure that the cases will be dealt with by the AFRC and the HKICPA respectively in a clear and orderly manner, and the consequential amendments to relevant ordinances and subsidiary legislation. Meanwhile, the Schedule 3B Amendment Notice will set the fees levels for the issuance of practising certificates, registration of practice units and the relevant renewal as identical to the HKICPA's existing levels for collection by the AFRC from October 1, 2023.

     The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Going forward, the AFRC and the HKICPA will strive for the effective regulation and long-term development of the accounting profession in Hong Kong. We will maintain close liaison with the profession to assist its transition to the new regime and address its development needs."

     The three pieces of subsidiary legislation will be tabled before the Legislative Council at its sitting on May 11, 2022, for negative vetting.

     The Transport Department (TD) today (May 6) reminded the public that special traffic and transport arrangements will be implemented in Wan Chai North to facilitate the holding of the 2022 Chief Executive Election on May 8 (Sunday). Details are as follows:
  
Road closure
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     The slip road leading from the Central-Wan Chai Bypass to Expo Drive will be temporarily closed from 7am to 6pm on May 8. Motorists are advised to use Man Po Street, Yiu Sing Street and Lung Wo Road for journeys to Wan Chai North.
 
Public transport services
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(1) The terminal point for cross-harbour bus route No. 961 at Expo Drive East will be relocated to Wan Chai North Temporary Public Transport Interchange from 0.30am to 10pm on May 8. New World First Bus route Nos. 18 and N8P, and cross-harbour bus route Nos. 905, 961 and 978, will be temporarily diverted from 5am on May 8. Due to bus route diversion, bus stops on Harbour Road westbound, Lung Wui Road and Harbour Road eastbound outside the Hong Kong Convention and Exhibition Centre will be suspended from 5am to 9pm on May 8, and temporary bus stops on Gloucester Road will be provided to facilitate passengers' boarding and alighting; and
 
(2) The taxi stands at Expo Drive and Harbour Road will be suspended from 0.30am to 10pm on May 8. The taxi stand and taxi drop-off point at Harbour View Street will be suspended from 0.30am to 7pm on May 8.
 
     The TD anticipates that the traffic in the vicinity of Wan Chai North will become busier. Motorists should avoid driving to the affected areas. In case of traffic congestion, they should exercise tolerance and patience, follow the Police's instructions and be alert to the latest traffic news through the media.
 
     The public transport operators will display notices to inform passengers of the temporary arrangements. Commuters using public transport are advised to pay attention to the arrangements of route diversions and suspension and relocation of stops. The TD and the Police will closely monitor the traffic situation and implement appropriate measures whenever necessary.
 
     For details on the special traffic and transport arrangements, members of the public can browse the TD's website (www.td.gov.hk) or mobile application "HKeMobility".

     A Government spokesman announced today (May 6) that the supply of fresh food from the Mainland yesterday (May 5) was sufficient and stable.
    
     According to the latest information, the quantity of vegetables supplied from the Mainland to Hong Kong yesterday (as of midnight) by land and water transportation was about 2 600 tonnes, comparable to the average daily supply from the Mainland on a normal day. The volume of vegetables supplied from the Mainland to Hong Kong sold through the wholesale markets of the Agriculture, Fisheries and Conservation Department (AFCD) and the Vegetable Marketing Organization was about 813 tonnes. The average wholesale prices of choi sum and pak choi stood at $7.50 and $6.20 per catty respectively yesterday, largely comparable to the levels of a normal day. The supply of eggs to the wholesale market remained steady, with the average daily supply standing at over 3.2 million for the past week, comparable to the average daily supply on a normal day last year.

     The total supply of chilled meat from the Mainland yesterday was about 40 tonnes. The supply of live pigs was plentiful.

     The supply of chilled poultry from the Mainland was over 180 000 head yesterday, and about 8 000 live chickens were slaughtered locally. The supply was abundant.

     Regarding the rice supply, in compliance with the requirement by the Government, stockholders of rice have to maintain the reserve stock of rice at a level sufficient for consumption by the local population for 15 days. The trade generally stocks double the required amount, which is sufficient for one month's consumption by Hong Kong citizens. In recent years, the import and consumption of rice in Hong Kong has stood at a steady level of around 320 000 to 330 000 tonnes per year. The import quantity (including reserve stock) as of end-March 2022 was 27 300 tonnes. Suppliers also maintain a reserve for food that can be stored, such as frozen meat, for around three months' stock generally.

     The Government will continue to maintain close liaison with the Mainland authorities and major food suppliers to ensure a stable food supply.

     The AFCD updates and publishes the fresh food supply information daily. Members of the public may visit the AFCD website for updates on daily supplies and wholesale prices of fresh food (www.afcd.gov.hk/english/agriculture/agr_fresh/agr_fresh.html).

     The Rating and Valuation Department today (May 6) released online the Hong Kong Property Review 2022, which contains statistics and commentaries on the local property market in 2021 as well as forecast completions in 2022 and 2023.
 
     The full contents of the publication are available for free viewing and downloading through www.rvd.gov.hk/en/publications/hkpr.html.
 
     Further enquiries can be directed to the department by contacting the Technical Secretary (Information) at 2150 8807.