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{
    "id": 1142394,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1142394/?format=api",
    "text_counter": 160,
    "type": "speech",
    "speaker_name": "Funyula, ODM",
    "speaker_title": "Hon. (Dr.) Wilberforce Oundo",
    "speaker": {
        "id": 13331,
        "legal_name": "Wilberforce Ojiambo Oundo",
        "slug": "wilberforce-ojiambo-oundo-2"
    },
    "content": "Section 50(8) of the Public Finance Management (PFM) Act 2012 grants power to the Cabinet Secretary, National Treasury, to establish by way of regulations approved by Parliament, such sinking fund or funds for the redemption of loans raised under the Act by the national Government. The CS, therefore, ought to have made the regulations in respect to sinking funds which were supposed to be approved by the National Assembly by way of affirmative resolution. The publication of guidelines are, therefore, in contravention of Section 13(a) of the Statutory Instruments Act. The National Treasury invoked Article 214(1) of the Constitution of Kenya which provides that public debts are charged to the Consolidated Fund, but an Act of Parliament may 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."
}