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{
    "id": 1272353,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1272353/?format=api",
    "text_counter": 150,
    "type": "speech",
    "speaker_name": "Marakwet West, Independent",
    "speaker_title": "Hon. Timothy Kipchumba",
    "speaker": null,
    "content": "High Court, made a substantive ruling against corruption that should not escape the attention of this House. Justice Sifuna, pursuant to Section 92 of the Proceeds of Crime and Anti-Money Laundering Act of 2009, made a substantive and an unprecedented ruling to the effect that money that has been obtained out of the proceeds of crime that initially was deposited in the Assets Recovery Agency Fund bank accounts shall be deposited in the Consolidated Fund Account. The substance of that ruling is that any amount of money that has been forfeited by a court of law and initially was deposited in the Assets Recovery Agency Fund account shall now be deposited in the Consolidated Fund Account. In my opinion, this is a good ruling because initially there was a misconception or there is a belief that money deposited to this Agency’s account has been misappropriated. I call upon the National Treasury and Economic Planning, because we have the substantive Act but lack the regulations, to submit regulations to operationalise the Criminal Recovery Fund so that once that Fund has been created by this House, money that has been forfeited by a court of law, being proceeds of corruption, shall be deposited to that Recovery Fund. As we speak, the money that is recovered out of the proceeds of crime is deposited in a bank account opened by the Agency. As to how that money is managed, it is not very clear. I call upon the National Treasury and the Committee on Delegated Legislation to make sure that Regulations are brought to this House so that we have an asset recovery fund account created so that money that is forfeited by a court of law being proceeds of crime is deposited into that account. In my opinion, if that fund account is created, then money that has been forfeited by a court of law shall not be misappropriated by that Agency. Hon. Deputy Speaker, I beg to submit. I fully support this Motion particularly on the creation of that fund account. Thank you."
}