Entry Instance

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

{
    "id": 1088907,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1088907/?format=api",
    "text_counter": 465,
    "type": "speech",
    "speaker_name": "Homa Bay CWR, ODM",
    "speaker_title": "Hon. (Ms.) Gladys 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 Section 69 by inserting the following Subsection immediately after Subsection (1)- “(1A) Notwithstanding Subsection (1), every project agreement shall make provision for the revenue sharing mechanisms and thresholds between a private party and the Government, where a project’s revenue performance meets and exceeds the target return on investment negotiated under a project agreement.” Clause 69 is speaking to the issue of minimum obligations of parties to a project. What the Committee is adding is that every project agreement shall make provision for the revenue sharing mechanisms and thresholds between a private party and the Government, where a project’s revenue meets and exceeds the target return on investment negotiated under a project agreement. Hon. Temporary Deputy Chairman, we are just taking caution here. Sometimes you have agreed that in 15 or 30 years the investor will raise their money, but in 10 years, and the Expressway is an example, he raises the money. There should be room for negotiations so that they leave earlier than the required period. The money can have been raised and the negotiation was already done and the investor stays even after they have already met their revenue targets. So, we were just putting in a clause to ensure that the Government is shielded in the event that revenues are raised especially earlier than targeted. I beg to move."
}