Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1060167,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1060167/?format=api",
    "text_counter": 308,
    "type": "speech",
    "speaker_name": "Tharaka, DP",
    "speaker_title": "Hon. George Gitonga",
    "speaker": {
        "id": 13491,
        "legal_name": "George Gitonga Murugara",
        "slug": "george-gitonga-murugara"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. Kindly, allow me to second the Business Laws (Amendment) (No.2) Bill (National Assembly Bill No.50 of 2020), which touches on various business laws we have in the country which aide in carrying out business, especially by investors. We cannot talk of any meaningful development without having to constantly relook at our business laws and updating them to ensure that they are in consonance with the various business needs of the country so that when investors – whether local or foreign – come to do business in our country, they find the environment attractive. We have several laws that we are dealing with today, including the Law of Contract Act, the Companies Act, the Insolvency Act, the Small Claims Court Act and the Stamp Duty Act, among many others. It is very important to bring to the attention of the House that in this country, we have had a lag in terms of developing our business laws. For a long time, we were relying on the English Companies Act of 1948 up to when we were in law school. In as much as we draw influence from it, today we are proud to say that we have our own Companies Act which came into force in 2015. It deals with companies matters right from incorporation to dissolution, in a manner that is Kenyan. We do not have to borrow what happens in England. The commercial laws of this country, on which we have always emphasised, mainly deal with corporates. Companies incorporated under the Companies Act have to invest, pay taxes and make returns, including, where necessary, repatriation to their mother countries. It is, therefore, important that we ease the conduct of businesses of companies so that at all times we have people who have money out there coming to invest in Kenya. It is for the benefit of the country, citizens and modern day trade. Today’s world is modern. We are moving away from the traditional way of doing business, where we would always say a contract was a meeting of minds between two people and agreeing on what their contractual terms are. Today we do business without even having to know who the 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."
}