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{
    "id": 1495529,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1495529/?format=api",
    "text_counter": 413,
    "type": "speech",
    "speaker_name": "South Mugirango, UDA",
    "speaker_title": "Hon. Silvanus Osoro",
    "speaker": null,
    "content": "Part X, Clauses 81 – 89 of the Bill, provide for how the property and funds of a cooperative are to be applied. It also provides for restriction on giving loans and borrowing as well as investment of a cooperative’s funds. It further makes provision for declaration and payment of bonuses, maintenance of a reserve fund and the distribution of net balance. It also provides for investment in non-core activities and companies. Part XI covers Clauses 90-98 of the Bill and provides for charges by cooperatives. It provides for the creation of charges over cooperative property, compliance of charges with applicable law, registration of charges by the Commissioner and for the register of charges. It also makes provision for the issuance of a certificate of satisfaction of charges and for the requirement for the receiver to give notice of appointment to the Commissioner. It also makes provision for the requirement of a cooperative to keep a copy of instruments of charge at the registered office and for the register of particulars of charges. It further provides for the right of members and creditors to inspect the register of charges. Part XII, covering Clauses 99-105 of the Bill, provides for inquiry, inspection and surcharges. It provides for the power to surcharge officers of a cooperative, appeal against a surcharge order and the recovery of surcharge. It further provides for the inspection of books of an indebted cooperative, the expenses of …."
}