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{
    "id": 1060161,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1060161/?format=api",
    "text_counter": 302,
    "type": "speech",
    "speaker_name": "Kipipiri, JP",
    "speaker_title": "Hon. Amos Kimunya",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. I beg to move that the Business Laws (Amendment) (No.2) Bill (National Assembly Bill No.50 of 2020) be read a Second Time. As Members will be aware, the Business Laws (Amendment) (No.2) Bill was published on 14th December 2020. It came for First Reading on 22nd December 2020. It was then committed to the various committees because it is an omnibus Bill that covers a number of business laws. As was communicated by the Speaker this afternoon, the Bill was deemed to be one concerning counties. Two statutes that were touching on counties have been withdrawn. Hence, even as we will be moving, I am doing so without those two statutes as was agreed upon with the Speaker. This Bill is part of the wider reforms that are all aimed at easing the cost of doing business and putting Kenya on a higher pedestal as a way of attracting investors. Investors are not only looking for where businesses are profitable, but where it is easier to register a business, continue engaging with Government, ease of land registration and all the hurdles that appear to be put on the business community. We are now doing very well as a country in terms of the World Bank ranking on ease of doing business within countries. Kenya has made progress and His Excellency the President promised to ensure that Kenya moves to be among the top 50 countries in terms of reforms of doing business. Anyone who wants to invest first of all looks at the World Bank Report on ease of doing business within countries. If you are among the top 50, you are likely to attract investors faster than if you are at number 100. The Government has decided to look at the laws that people are complaining about. For instance, the creation of the Huduma Centres was meant to ease how citizens get documentation. At the corporate level, based on what people have been saying, a number of clauses are set to be amended. Clause 2 of the Bill seeks to amend the Law of Contract which is Cap.23 to eliminate the requirement of a company seal in execution of documents for companies. This provision was put in the Companies Act, 2015, but it is still within Cap.23 of the Law of Contract. So, on one hand, we are saying that you do not need a company seal, but on the other hand, the Law of Contract says that you need a company seal. It seeks to harmonise the two laws by removing that requirement. When you look at businesses in the new regime, when doing online registration of documents for companies, how do you put seals online? It was deemed that a seal was necessary in old days, but not in the new regime."
}