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{
    "id": 19501,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/19501/?format=api",
    "text_counter": 197,
    "type": "speech",
    "speaker_name": "Mr. Mungatana",
    "speaker_title": "",
    "speaker": {
        "id": 185,
        "legal_name": "Danson Buya Mungatana",
        "slug": "danson-mungatana"
    },
    "content": "The other thing that I wanted clearly to be stated here is what has been referred to by the Deputy Leader of Government Business about mortgages and other connected purposes. I wanted the Minister to consider inserting a clause at the Committee Stage that will be talking clearly as to what a member of this superannuation scheme can do with the security that he will be having and his contributions within the Government. I am saying this because even private life insurance schemes make it clear within the contracts that you can use this after so many years or whatever time period as a security to secure mortgage facilities You can use this for this and the other purposes. Some of the schemes that are in operation allow you to use your savings for loans. But this being a scheme that is regulated by an Act of Parliament, you may find some people who are chosen to manage this scheme being very difficult and putting even rules that will make it difficult for the members of the scheme to use this in a commercial sense. We want that clause inserted at the Committee Stage that will make it clear for all the members who would wish to use this for commercial purposes, so that they can benefit just like a normal savings scheme that exists outside the Government. We know that sometimes the Government can be difficult and they will always fall back to the law establishing the services that they are talking about."
}