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{
    "id": 1154085,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1154085/?format=api",
    "text_counter": 302,
    "type": "speech",
    "speaker_name": "Moiben, JP",
    "speaker_title": "Hon. Silas Tiren",
    "speaker": {
        "id": 2364,
        "legal_name": "Silas Kipkoech Tiren",
        "slug": "silas-kipkoech-tiren"
    },
    "content": " Thank you, Hon. Temporary Deputy Chairman. I beg to move: THAT, Clause 54 of the Bill be amended by— (a) numbering the existing provision as sub-clause (1); (b) inserting the following sub-clauses immediately after sub-clause (1)— (2) In this section, “anti-competitive conduct” means any act, conduct, practice or behaviour by the Exchange organiser or any other licensee operating at the Exchange, individually or in concert with others that directly or indirectly impedes, frustrates, undermines or reduces competition at the Exchange. (3) For the purpose of subsection (2), “anti-competitive conduct” includes but is not limited to margin squeeze, market sharing, transfer pricing, abuse of dominance, preferential contracts that give advantageous terms to affiliates and partners relative to competitors, imposition of unfair purchase or selling conditions or other, predatory practices, application of dissimilar conditions to equivalent transactions with other trading parties and other conduct that undermine competitive operations of the Exchange. (4) The Cabinet Secretary for the time being responsible for matters relating to finance may make regulations for the implementation of this section.” The clause provides for prohibition against anti-competitive practice. The proposed amendment seeks to enrich the provision by defining what constitutes anti-competitive conduct. It also provides that the Cabinet Secretary for the time being responsible for matters relating to finance may make regulations for implementation of the section."
}