The Government announced today (December 31) that the Chief Executive has re-appointed two incumbent members, namely Mr Wilson Tam Wai-shun and Mr Hugh Tong Chun-wai, to the Transport Advisory Committee (TAC).

     The re-appointments are for a term of one year and nine months with effect from January 1, 2021.

     The TAC is a key advisory body to the Government on broad issues of transport policy and major transport-related proposals. Currently, the TAC comprises 16 non-official members including the Chairman and three ex-officio members. Its membership and terms of reference are available at www.thb.gov.hk/eng/boards/transport/land/tac.htm.

     The Home Affairs Bureau (HAB) announced today (December 31) the re-appointment of four incumbent members and the appointment of two new members to the Youth Square Management Advisory Committee (MAC) for a two-year term from January 1, 2021, to December 31, 2022.
 
     The Chairperson and non-official members of the MAC are as follows:
 
Chairperson
————-
Deputy Secretary for Home Affairs(1)
 
Ex-officio members
———————
Vice-Chairperson of the Youth Development Commission, or a representative Chairperson of the Committee on the Promotion of Civic Education, or a representative
Representative from the Eastern District Council
Representative from the Board of Management of the Chinese Permanent Cemeteries
 
Newly appointed members
—————————–
Miss Debbie Cheung Sui-ki
Dr Wilson Choo Ming-yin
 
Re-appointed members
——————–
Mr Dave Ho
Ms Lo Kam-ping
Mr Poon Siu-chi
Mr Yeung Hok-lam
 
Existing members
——————-
Mr Allen Che Wai-hang
Mr Stefan Chui Kai-hin
Mr Victor Lam Tsz-hung
Mr Jan Noel Shih
 
     The MAC also includes representatives from the HAB, the Education Bureau and the Leisure and Cultural Services Department as members.
 
     A spokesman for the HAB thanked the outgoing members, Ms Christina Chan Sye-min and Mr Angus Ho Kwok-lai, for their support since their appointment to the MAC.
 
     The MAC is a non-statutory advisory body to advise the Government on matters pertaining to the operation of Youth Square, including the overall strategy and objectives of Youth Square; themes and contents of youth development programmes; the use, allocation, leasing and charging arrangements of various facilities; the evaluation of the effectiveness of the use of Youth Square in promoting youth development programmes and monitoring the performance of the operator.

     The Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Serbia signed in August this year came into force on December 30, 2020, after the completion of the relevant ratification procedures. The CDTA will have effect in respect of Hong Kong tax for any year of assessment beginning on or after April 1, 2021, a Government spokesman said today (December 31).
      
     Serbia participates in the Belt and Road initiative, and was the 89th largest trading partner of Hong Kong in 2019. The CDTA will bring a greater degree of certainty on tax liabilities for those who engage in cross-border business activities, and help promote bilateral trade and investment activities.

     The Transport Department (TD) today (December 31) invited tenders for a contract on telecommunication services for the area traffic control system for Kowloon, Tsuen Wan, Sha Tin and Tseung Kwan O (Contract No. TD 65/2020).
 
     The service period of this contract will be from June 2021 to May 2026. The contract mainly includes provision of telecommunication links for the transmission of traffic light control signals between 202 on-street traffic light junctions and various traffic control centres.
 
     Interested contractors can obtain the tender documents and other particulars from the Traffic Control Division, Transport Department, 14/F, West Kowloon Government Offices (South Tower), 11 Hoi Ting Road, Yau Ma Tei, Kowloon.
 
     Tenders should be placed in the Government Logistics Department Tender Box situated on G/F, North Point Government Offices, 333 Java Road, North Point, Hong Kong. Submission of tenders will be closed at noon on February 11, 2021 (Thursday).
 
     For enquiries, please call 3842 6137.

     The Government gazetted today (December 31) subsidiary legislation related to the commencement of the insurance group-wide supervision (GWS) framework on March 29, 2021.
 
     Enacted in July 2020, the Insurance (Amendment) (No. 2) Ordinance 2020 introduces a GWS framework for the Insurance Authority (IA) to exercise direct regulatory powers over Hong Kong-incorporated holding companies of insurance groups. For the purpose of implementing the GWS framework, the Government has gazetted the following four pieces of subsidiary legislation:
 
(a) the Insurance (Amendment) (No. 2) Ordinance 2020 (Commencement) Notice;
(b) the Insurance (Designation and Annual Fees for Designated Insurance Holding Companies) Regulation;
(c) the Insurance (Prescribed Fees) (Amendment) Regulation 2020; and
(d) the Insurance (Group Capital) Rules. 

     "At present, the IA is the group supervisor of three international insurance groups. The selection of Hong Kong as the jurisdiction for carrying out GWS for the international insurance groups has clearly demonstrated the advantages that Hong Kong possesses as an international financial centre and insurance hub," a spokesman for the Financial Services and the Treasury Bureau said.
 
     "The implementation of the GWS framework will help align Hong Kong's insurance regulatory regime with international standards and practices. It is a testament of the Government's commitment to reinforce Hong Kong's status as an international financial centre and establish Hong Kong as a preferred base for large insurance groups in Asia Pacific," the spokesman added.
 
     The Insurance (Amendment) (No. 2) Ordinance 2020 (Commencement) Notice appoints March 29, 2021, as the date on which the GWS framework will become effective. The Insurance (Designation and Annual Fees for Designated Insurance Holding Companies) Regulation and the Insurance (Prescribed Fees) (Amendment) Regulation 2020 provide for the collection of various fees for recovering the cost of the IA in carrying out GWS. The Insurance (Group Capital) Rules prescribes group capital adequacy requirements as well as supervisory reporting to the IA and public disclosure in relation to group capital adequacy. 
 
     The four pieces of subsidiary legislation will be tabled before the Legislative Council for negative vetting on January 6, 2021.