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{
    "id": 1107087,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1107087/?format=api",
    "text_counter": 361,
    "type": "speech",
    "speaker_name": "Kikuyu, JP",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": " Hon. Chairman, I beg to move: THAT, Clause 9 of the Bill be amended in the proposed new Section 12, by deleting Sub- Section (2) and substituting therefore the following new subsections — (1) The affixing of the common seal of the Board shall be authenticated by the signatures of the Chairperson and the Chief Executive Officer and any document required by law to be made under seal and all decisions of the Board may be authenticated by the signatures of the Chairperson and the Chief Executive Officer. (2) The Board shall, in the absence of either the Chairperson or the Chief Executive Officer, in any particular matter, nominate one member to authenticate the seal of the Board on behalf of either the Chairperson or the Chief Executive Officer. This is just creating provisions on the common seal of the Fund that are normally contained in the main Act as a substantive provision and not in the schedules to the Act as was done here. Two, the amendment is also necessary to create clarity on who will authenticate the affixing of a common seal. Ordinarily, the Company Secretary affixes the seal but it needs to be authenticated. I propose that either the Chairperson or the Chief Executive Officer authenticates by signature. In their absence, the Board can nominate a member who will authenticate. This will go a long way in promoting accountability and good governance in the management of this Fund that is likely to be very liquid."
}