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{
    "id": 786615,
    "url": "http://info.mzalendo.com/api/v0.1/hansard/entries/786615/?format=api",
    "text_counter": 207,
    "type": "speech",
    "speaker_name": "Hon. Washiali",
    "speaker_title": "",
    "speaker": {
        "id": 151,
        "legal_name": "Benjamin Jomo Washiali",
        "slug": "benjamin-washiali"
    },
    "content": "(b) in the proposed new section 5C by — (i) inserting the words “for at least one hundred and eighty days” immediately after the words “person is missing” in the prefatory statement in subsection (1); and (ii) inserting the following new subsections immediately after subsection (5) — “(5A) Where a court is seized of an application under this section, the court may only grant an order or consent to the sale, charge, transfer, exchange or disposal of any property if the total value does not exceed two hundred and fifty thousand shillings or ten percent of the gross value of the estate of the missing person whichever is lower.” (c) in the proposed new section 5E — (i) in subsection (2) by deleting paragraphs (b) and (c) and substituting therefor the following new paragraphs— “(b) the person for the time being in charge of public investment and portfolio management at the ministry responsible for matters relating to finance or a designated representative; (c) one advocate having at least ten years’ experience nominated by the Law Society of Kenya; (d) three persons with knowledge and at least fifteen years’ experience in matters relating to finance, economics and investments— (i) one of whom shall be of opposite gender from the other two; (ii) not being public officers; and (iii) not being full time employees or directors of a public company.” (ii) in subsection (2) by renumbering paragraph (d) as (e); and (iii) inserting a new subsection immediately after subsection (2) — “2A. The members of the Board under subsection 2 (c) and (d) shall be appointed by the Attorney-General.” (d) in the proposed new section 5F – (i) by deleting subsection (1) and substituting therefor the following new subsection (1)— “(1). The functions of the Board shall be to— (a) review and oversee matters pertaining to the investment of estate and trust funds; (b) formulate, review and oversee the implementation of the Public Trustee Investment Policy; and (c) advise the Attorney-General on the management of the investment portfolio.” The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}