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{
    "id": 1025049,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1025049/?format=api",
    "text_counter": 96,
    "type": "speech",
    "speaker_name": "Homa Bay CWR, ODM",
    "speaker_title": "Hon. (Ms.) Glady Wanga",
    "speaker": {
        "id": 590,
        "legal_name": "Gladys Atieno Nyasuna",
        "slug": "gladys-atieno-nyasuna"
    },
    "content": " Hon. Temporary Deputy Chairman, I beg to move: THAT, the Bill be amended in Clause 4 - (a) by deleting the proposed sub-section (5) and substituting therefor the following new sub-sections- (5) Notwithstanding the provisions of sub-section (2)(c), the Cabinet Secretary may guarantee credit which is extended to a private borrower, for enterprise development or such other purpose as the Cabinet Secretary may prescribe, where the borrower does not have sufficient security. (6a) The Cabinet Secretary may only guarantee credit which is extended to a borrower under sub-section (5), if the borrower- (a) is a micro, small or medium enterprise; (b) is registered as a business or company under the relevant laws; (c) is a registered taxpayer and is in compliance with the relevant tax laws; (d) is registered by a county government and holds a valid business permit or trade licence; (e) is not part of any group or related to any enterprise which would otherwise not be eligible for credit guarantee under this section; and (f) agrees in writing to comply with the provisions of this Act and any conditions that may be imposed by the Cabinet Secretary. (b) in sub-section (8) by – (i) inserting the words “or varied” immediately after the words “be liquidated” in paragraph (g); (ii) inserting the following new paragraphs immediately after paragraph (g)– (ga) the maximum percentage of the Scheme funds which may be used to guarantee any individual borrower; (gb)mechanisms to ease access to credit guarantees by enterprises owned by women, youth and persons with disabilities; (gc) mechanisms for recovering the money from the borrower where the credit guarantee is liquidated; (gd) a limit on the period of default to a maximum of six months; The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}