Composer Du Yun, the first Asian woman to receive the Pulitzer Prize for Music, will team up with librettist Royce Vavrek and international and local musicians and vocalists, to present the Asia premiere of "Angel's Bone" in Hong Kong on November 10 and 11.
 
     "Angel's Bone" melds opera, chamber music, electronic music and cabaret into a searing multi-art performance, exploring the dark effects behind modern-day slavery and human trafficking and probing the twisted psyche of traffickers.
 
     The story tells the plight of two angels who have fallen down to Earth. They are found battered and bruised from their long journey by a middle-class couple who are in the midst of a financial crisis. They set out to nurse the wounded angels back to health, but then lock them in a room, leaving them a claw foot bathtub for a shared bed, and decide to exploit the bodies of the celestial beings for wealth.
 
     Born in Shanghai and now living in New York, Du Yun won the Pulitzer Prize for Music for the production "Angel's Bone" in 2017 and was named a Guggenheim Fellow in 2018. Hailed by the New York Times as a groundbreaking artist, she was also listed by the Washington Post as one of the top 35 female composers. Du Yun works at the intersection of orchestral, opera and chamber music, theatre, cabaret, sound installation, electronics and more.
 
     "Angel's Bone", performed in English with Chinese and English surtitles, is one of the programmes of the New Vision Arts Festival (NVAF). It will be staged at 8pm on November 10 and at 3pm on November 11 at the Kwai Tsing Theatre Auditorium. Tickets priced at $200, $320, $440 and $560 are now available at URBTIX (www.urbtix.hk). For credit card telephone bookings, please call 2111 5999.
 
     Organised by the Leisure and Cultural Services Department, the NVAF is celebrating its ninth edition this year and is being held from October 19 to November 18. For programme enquiries and discount schemes, please call 2370 1044 or visit www.newvisionfestival.gov.hk.

      

     Police will implement special traffic arrangements this Sunday (November 4) to facilitate a public event to be held on Hong Kong Island.

     The following special traffic arrangements will be implemented between 6am and 11pm:

Road closure
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1. Hollywood Road between Aberdeen Street and Arbuthnot Road;
2. Lyndhurst Terrace between Gage Street and Hollywood Road;
3. Old Bailey Street between Staunton Street and Hollywood Road;
4. Graham Street between Staunton Street and Hollywood Road;
5. Peel Street between Staunton Street and Gage Street;
6. Elgin Street between Staunton Street and Hollywood Road;
7. Vehicles exceeding nine metres in length cannot enter Lyndhurst Terrace between Wellington Street and Gage Street;
8. Vehicles exceeding nine metres in length cannot enter Hollywood Road between Lok Ku Road and Aberdeen Street; and
9. Vehicles exceeding nine meters in length on eastbound Caine Road cannot turn left to northbound Old Bailey Street.

Traffic diversions
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1. Traffic along westbound Queensway and southbound Cotton Tree Drive heading for Wyndham Street will be diverted via southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Arbuthnot Road;
2. Traffic along westbound Queensway and southbound Cotton Tree Drive heading for Wyndham Street will be diverted via southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Glenealy, except for vehicles exceeding 5.5 tonnes in gross weight;
3. Traffic along westbound Queensway and southbound Cotton Tree Drive heading for Staunton Street will be diverted via southbound Cotton Tree Drive, southbound Garden Road, westbound Robinson Road, eastbound Castle Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles exceeding nine metres in length;
4. Traffic along westbound Queen’s Road Central near D'Aguilar Street heading for Wyndham Street will be diverted via northbound Pottinger Street, eastbound Des Voeux Road Central, northbound Pedder Street, eastbound Connaught Road Central, southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Arbuthnot Road;
5. Traffic along westbound Queen’s Road Central near D'Aguilar Street heading for Wyndham Street will be diverted via northbound Pottinger Street, eastbound Des Voeux Road Central, northbound Pedder Street, eastbound Connaught Road Central, southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Glenealy, except for vehicles exceeding 5.5 tonnes in gross weight;
6. Traffic along northbound Wyndham Street and westbound Queen’s Road Central near D'Aguilar Street heading for Staunton Street will be diverted via westbound Queen’s Road Central, northbound Pottinger Street, eastbound Des Voeux Road Central, northbound Pedder Street, eastbound Connaught Road Central, southbound Cotton Tree Drive, southbound Garden Road, westbound Robinson Road, eastbound Castle Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles except exceeding nine metres in length;
7. Traffic along northbound Aberdeen Street and westbound Wellington Street heading for Wyndham Street will be diverted via westbound Wellington Street, westbound Bonham Strand, northbound Hillier Street, eastbound Connaught Road Central, eastbound Man Kat Street, eastbound Connaught Road Central , southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Arbuthnot Road;
8. Traffic along northbound Aberdeen Street and westbound Wellington Street heading for Wyndham Street will be diverted via westbound Wellington Street, westbound Bonham Strand, northbound Hillier Street, eastbound Connaught Road Central, eastbound Man Kat Street, eastbound Connaught Road Central, southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Glenealy, except for vehicles exceeding 5.5 tonnes in gross weight;
9. Traffic along northbound Aberdeen Street and westbound Wellington Street heading for Staunton Street will be diverted via westbound Wellington Street, westbound Bonham Strand, northbound Hillier Street, eastbound Connaught Road Central, eastbound Man Kat Street, eastbound Connaught Road Central , southbound Cotton Tree Drive, southbound Garden Road, westbound Robinson Road, eastbound Castle Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles exceeding nine metres in length;
10. Traffic along westbound Queen’s Road West heading for Wyndham Street will be diverted via southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Arbuthnot Road, except for vehicles exceeding 5.5 tonnes in gross weight;
11. Traffic along westbound Queen’s Road West heading for Staunton Street will be diverted via southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles exceeding 5.5 tonnes in gross weight;
12. Traffic along eastbound Hollywood Road heading for Wyndham Street will be diverted via northbound Lok Ku Road, westbound Queen’s Road Central, northbound Morrison Street, eastbound Des Voeux Road Central, northbound Hillier Street, eastbound Connaught Road Central, eastbound Man Kat Street, eastbound Connaught Road Central, southbound Cotton Tree Drive, westbound Upper Albert Road and northbound Arbuthnot Road;
13. Traffic along southbound Bonham Strand and westbound Queen’s Road Central near Morrison Street heading for Wyndham Street will be diverted via westbound Queen’s Road West, southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Arbuthnot Road, except for vehicles exceeding 5.5 tonnes in gross weight;
14. Traffic along southbound Bonham Strand and westbound Queen’s Road Central near Morrison Street heading for Staunton Street will be diverted via westbound Queen’s Road West, southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles exceeding 5.5 tonnes in gross weight;
15. Traffic along eastbound Caine Road heading for Wyndham Street will be diverted via northbound Arbuthnot Road;
16. Traffic along northbound Upper Station Street heading for Wyndham Street will be diverted via eastbound Hollywood Road, northbound Lok Ku Road, westbound Queen’s Road Central, westbound Queen’s Road West, southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Arbuthnot Road, except for vehicles exceeding 5.5 tonnes in gross weight; and
17. Traffic along northbound Upper Station Street heading for Staunton Street will be diverted via eastbound Hollywood Road, northbound Lok Ku Road, westbound Queen’s Road Central, westbound Queen’s Road West, southbound Eastern Street, eastbound Hospital Road, eastbound Caine Road and northbound Old Bailey Street, except for vehicles exceeding 5.5 tonnes in gross weight.

Suspension of parking spaces
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     All parking meters on Old Bailey Street will be suspended from 6pm on November 3 to 11pm on November 4.

     All vehicles found illegally parked within the precinct will be towed away without prior notice, and may subject to multiple ticketing.

     Actual implementation of the traffic arrangements will be made depending on traffic and crowd conditions in the area. Motorists are advised to exercise tolerance and patience and take heed of instructions of the Police on site.

     The outdoor concert "Music in Motion" featuring a crossover of electronic music, traditional instruments, contemporary dance and parkour will be staged this Sunday (November 4) from 3pm to 6pm at the Hong Kong Cultural Centre Piazza. Members of the public are welcome to attend and admission is free.

     Participating performing groups and artists will include Rebearth (voice/electronics) x Ivanhoe Lam (choreography); Shane Aspegren (percussion/electronics) x Kung Chi-shing (electric violin/woodwind) x Hugh Cho (choreography); ReOrientate (live music/flamenco); and Olivier Cong (guitar/electronics) and Bou Kwan-ying (guzheng).

     The performance of Rebearth and dancers will showcase a unique style that fuses original electronic dance music with contemporary dance. ReOrientate, a Hong Kong-based collective of international award-winning artists, will combine technology and traditional arts in a quasi-scientific approach in their music and flamenco performance. Local singer-songwriter Olivier Cong will make an experimental quest to expand his musical expression with the playing techniques and timbre of the guzheng in the performance with guzheng musician Bou Kwan-ying.

     In addition, Hong Kong-based artist Shane Aspegren will collaborate with composer Kung Chi-shing and dancers to give a performance featuring parkour with intense physical movements accompanied by explosive music. Radio DJ Wong Kwun-bun will be the emcee of the concert. 

     "Music in Motion", an outdoor programme in support of the New Vision Arts Festival, is presented by the Leisure and Cultural Services Department. For details, please visit the website at www.lcsd.gov.hk/en/eo/territoryevents/theaticartsfestival/nav2018.html.

     The Government Gazette published today (November 2) contains a Legal Notice to the effect that the Secretary for Financial Services and the Treasury have authorised a change in the rate of interest payable on Tax Reserve Certificates. From November 5, 2018, the new annual rate of interest will be 0.25% against the current rate of 0.0767%, i.e. the new rate will be $0.0208 per month per $100.
      
     Tax Reserve Certificates bear simple interest and interest is calculated monthly (including part of a month) from the date of purchase to the date of payment of tax.
      
     Interest is only credited when certificates are used to pay tax and no interest is due where the principal value of a certificate is repaid to its holder.
      
     The rate of interest payable on Tax Reserve Certificates is periodically revised in line with the market trend. Currently, it is reviewed every month based on the average prevailing interest rate for the six-month time deposit below $100,000 offered by the three note-issuing banks.
      
     The new rate will apply to all certificates purchased on or after November 5, 2018. Certificates purchased before November 5, 2018 will continue to earn interest at the rates prevailing on their respective purchase dates. More interest rate information can be found in the Inland Revenue Department website (www.ird.gov.hk). The public can also obtain a copy of Tax Reserve Certificate Interest Rate Table from the 24-hour information hotline at 1878033. Below is a summary of the interest rates for past periods:

     This is always subject to the general rule that interest ceases to accrue after 36 complete months.

     The Government announced today (November 2) the appointment of Dr Kelvin Wong Tin-yau as the Chairman of the Financial Reporting Council (FRC). Dr Wong's current term as a Member of the FRC will cease on December 1, 2018, and he will assume the chairmanship on December 15, 2018, upon the expiry of the term of appointment of the incumbent Chairman, Dr John Poon Cho-ming. 
    
     The Government also announced the following appointments to the FRC with effect from December 1, 2018:
 
Appointment of New Members
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Mr Eugene Fung Ting-sek
Mr Stephen Hung Wan-shun (will cease to be a Temporary Member of the FRC on the same date (December 1, 2018))
Ms Miranda Kwok Pui-fong
Ms Rosita Lee Pui-shan (will cease to be a Temporary Member of the FRC on the same date (December 1, 2018))
 
Re-appointment of Members
——————————–

Mr Wong Kai-man
Mr Ignatius Chan Tze-ching
Mr Wilson Fung Ying-wai
Ms Eirene Yeung
 
Re-appointment of Temporary Member
——————————————-

Ms Anna Wong Wai-kwan
 
     Ms Eirene Yeung is also appointed as the Acting Chairman of the FRC upon the expiry of the term of appointment of the incumbent Acting Chairman, Mr Nicholas Robert Sallnow-Smith. Ms Yeung will be the Acting Chairman in the event that the Chairman is not able to perform the functions of his office as Chairman. The appointment of the Acting Chairman will come into effect whenever the need arises.
 
     The above appointments are made in accordance with the relevant provisions of the FRC Ordinance (Cap. 588) and on a two-year term, subject to the commencement of the new auditor regulatory regime proposed in the FRC (Amendment) Bill 2018 which is currently being examined by a Bills Committee of the Legislative Council.
 
     In announcing the appointments, the Secretary for Financial Services and the Treasury, Mr James Lau, said, "The FRC is tasked with the important duties of enhancing the regulation of the accounting profession and the quality of financial reporting of entities listed in Hong Kong. With his wealth of experience in senior positions of listed corporations, Dr Kelvin Wong is well versed in corporate governance and financial regulatory issues. He has contributed most positively to the work of the FRC since his appointment as a Member in December 2015. We are confident that under his leadership, the FRC will continue to discharge its statutory functions effectively to reinforce Hong Kong's position as an international financial and business centre."
 
     Mr Lau also welcomed the new Members on board and expressed his heartfelt gratitude to the outgoing Members. Mr Lau said, "We would like to thank the outgoing Chairman, Dr John Poon Cho-ming, and the three outgoing Members, Mr Nicholas Robert Sallnow-Smith, Mr Sin Chung-kai and Mr David Peter Robert Stannard, for their dedicated services and valuable contributions to the FRC in the past six years. Under Dr Poon's leadership and with the support from Members, the FRC has been faithfully discharging its statutory duties as an important regulatory body in upholding the quality and integrity of financial reporting in Hong Kong and in safeguarding the interest of the investing public. During his tenure as the Chairman, Dr Poon has led the FRC in laying a solid foundation for its new role as a full-fledged independent oversight body for auditors of listed entities upon the enactment of the FRC (Amendment) Bill 2018."
 
     Established under the FRC Ordinance, the FRC is an independent statutory body to investigate possible auditing and reporting irregularities, as well as to enquire into possible non-compliance with accounting requirements, in relation to listed entities in Hong Kong.
 
     The FRC comprises 11 Members, including two ex-officio Members (the Registrar of Companies and the Chief Executive Officer (CEO) of the FRC). The Chairman is appointed by the Chief Executive and other Members by the Financial Secretary under delegated authority. 
 
     Section 53 of the FRC Ordinance requires any Member of the FRC who has disclosed an interest in a matter under consideration by the FRC to be absent during any deliberation of the matter unless the Council determines otherwise. The Temporary Members of the FRC will serve on a rotating basis in the event that an appointed Member is not able to perform the functions of his office as Member as a result of his disclosure of interests. Under the FRC Ordinance, Temporary Members are appointed by the Financial Secretary under delegated authority. In addition, section 3(1) of Schedule 2 to the FRC Ordinance provides that if the Chairman is unable to perform the functions of his office because of his absence from Hong Kong or any other reason, the Chief Executive may appoint another appointed Member of the FRC who is a lay person to act as the Chairman during the absence, incapacity or vacancy.
 
     The FRC (Amendment) Bill 2018 aims to enhance the independence of the existing regulatory regime for auditors of listed entities from the audit profession so as to enhance investor protection and ensure that the regime is benchmarked against the international standard and practice. Under the legislative proposals, the FRC will become an independent oversight body regulating auditors of listed entities, and be responsible for the inspection, investigation and disciplinary functions with regard to listed entity auditors. The Bill also prescribes a new composition of the FRC under the new regime. Accordingly, the term of the above appointments to the FRC will cease upon the commencement of the new auditor regulatory regime proposed in the Bill, in the event that the commencement date of the Bill is earlier than the expiry date of the appointments.
 
     The membership list of the FRC with effect from December 15, 2018, is as follows:
 
Chairman
————-
Dr Kelvin Wong Tin-yau
 
Members (in alphabetical order of surname)
————————————————-
Mr Ignatius Chan Tze-ching
Mr Eugene Fung Ting-sek
Mr Wilson Fung Ying-wai
Mr Stephen Hung Wan-shun
Ms Miranda Kwok Pui-fong
Ms Rosita Lee Pui-shan
Mr Wong Kai-man
Ms Eirene Yeung
 
Ex-officio Members (in alphabetical order of surname)
————————————————————-
Ms Ada Chung Lai-ling (in the capacity as the Registrar of Companies)
Mr Paul F Winkelmann (in the capacity as the CEO of the FRC)
 
     The Temporary Members of the FRC with effect from December 1, 2018, are (in alphabetical order of surname):
 
Mr Edward Kwan Pak-chung
Mr Michael William Scales
Ms Anna Wong Wai-kwan