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{
    "id": 1369750,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1369750/?format=api",
    "text_counter": 219,
    "type": "speech",
    "speaker_name": "Ainabkoi, UDA",
    "speaker_title": "Hon. Samwel Chepkonga",
    "speaker": null,
    "content": "recover money from a very junior officer of the Kenya Rural Roads Authority (KeRRA) amounting to about Ksh95 million. She had invested part of the proceeds that she illegally acquired to purchase 15 apartments. All those assets and money were recovered by the Agency and placed under its custody. Once those properties are recovered and due process is completed in court, they must be sent to the Consolidated Fund. These Regulations provide the method and procedure for disbursing the money to the Consolidated Fund. The Agency retains 5 per cent of the money for purposes of administration. That is the gist of these Regulations. The rest of the Regulations provide for the management of the Fund. This is a very important Agency. Without it, people will launder money and steal public funds. This Agency has been instrumental in curbing money laundering. It currently has billions of shillings in its accounts awaiting the conclusion of several cases pending in court. On the policy background, these Regulations are very important to our country’s efforts to combat money laundering, terrorism financing, and proliferation of financing that is largely anchored in the Proceeds of Crime and Anti-Money Laundering Act of 2009. They are also anchored in the attendant regulations, namely the Proceeds of Crime and Anti-Money Laundering Regulations of 2023 and the Prevention of Terrorism Act of 2023. Further, the Criminal Assets Recovery Fund established pursuant to Section 109 of the Proceeds of Crime and Anti-Money Laundering Act had not been operationalised due to the lack of regulations. These Regulations will ensure that the parent Act will be operationalised. There was a suit that was filed in 2022 against the Assets Recovery Agency, in which the court ordered that regulations be finalised within six months. These Regulations have been brought to the House in compliance with that order. The Regulations are purely operational for the purpose of ensuring that the Fund operates in a manner that is consistent with the laws of this country. The Regulations comply with the Statutory Instruments Act. They were brought to this House within the period that is allowed by law, that is, within seven days. We also added the explanatory memorandum submitted to the Committee, which considered the justification for making these Regulations, and we were satisfied. We were also satisfied that the Authority undertook the necessary public participation as required under Articles 10 and 118 of the Constitution. We submit these Regulations for approval by this House to enable the Agency to implement and operationalise the Fund that was created by the parent Act. I beg to move and request Hon. Murugara, who was the people's Chairperson in the Committee on Delegated Legislation in the 12th Parliament, to second."
}