241. Each drum or friction pulley of a hoist whose rope speed is 4 m (13.1 ft) per second or more shall be equipped with:(1) safety devices, automatically controlled by the drum or the friction pulley and causing the driving power to the hoist motor to be cut off and the automatic application of the brakes to the drum or to the friction pulley either:(a) before the speed of the cable reaches 120% of the maximum operating speed; or
(b) when the conveyance or the counterweight moves beyond the preset upper and lower limits in the shaft or the headframe prescribed in paragraphs 2 and 3 of section 232;
(2) a sound warning device automatically informing the hoistman that the speed of the conveyance or the counterweight is approaching the speed limit for that part of the shaft or the headframe.