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{
    "id": 575421,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/575421/?format=api",
    "text_counter": 244,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "of the day, the people who make companies or entities insolvent are made to take responsibility. As I was saying, countries which were at the same level of development with us are ahead of us at the moment. They are ahead of us simply because they respect laws. So, as we come up with this law, the agents are supposed to ensure that it is followed. When you look at this particular Bill, it is very elaborate. In many ways, it is taking care of various interests even for the concerned and aggrieved parties, shareholders, investors and people who are entrusted with the responsibility to man them. Their interests are taken care of. When we look at this, it is specifying in terms of depth. It is clarifying the role of the courts. Whenever companies or entities are in this kind of a situation, there is a particular procedure to be followed to ensure that justice is carried out for all. It is also asking for the people who have competence in that line so that we do not have quacks carrying out operations which they are not competent or able to do. I believe that by this august House passing this legislation, we will bring certain order because when we are talking about birth, we must also think about death. Just recently, we passed another law regarding companies or creation of entities. This one is looking at, in the event of death of those companies, what happens? This is a good thing. It is elaborate in terms of procedures and processes that will ensure that there is flow and proper administration of companies in case those companies fall under liquidation. All these provisions are clearly spelt out. With those many remarks, I support this Bill and the consideration of these various stages that have been identified and what has to be done. Thank you."
}