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{
    "id": 1369071,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1369071/?format=api",
    "text_counter": 250,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": " Hon. Temporary Chairman, I beg to move: THAT, Clause 3 of the Bill be amended in the proposed new Section 67H(1) by deleting the word “shareholder,” appearing at the beginning of the sub-clause. Just for the comfort of the House, this is the only amendment to the Insurance (Amendment) Bill. We propose to delete the word “shareholder” from sub-clause (1) and leave it as “Any director, principal officer or management staff of an insurer…” We are placing personal responsibility on senior managers and directors of insurance companies in case of fraud or mismanagement. Including shareholders meant that all investors in insurance companies would be held liable. The amendment proposes to delete the word “shareholder” to leave only the director, principal officer or management staff of an insurer as those who will be held responsible for any misconduct in the company. With that, I beg to move the amendment."
}