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{
    "id": 203615,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/203615/?format=api",
    "text_counter": 273,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Mr. Temporary Deputy Speaker, Sir, I beg to move that the Internal Loans (Amendment) Bill be read a second time. Mr. Temporary Deputy Speaker, Sir, the purpose of the Internal Loans (Amendment) Bill is basically to refine the legal framework of internal debt regime governing the conduct of Government borrowing in the Capital Markets Authority (CMA). In this respect, the Bill seeks to amend several sections of the Act that do not recognise dematerialised or paperless securities which are already in use. Basically, thus keeping the Government Bond market behind technological development. Mr. Temporary Deputy Speaker, Sir, the sections are outdated and hence slow down Government borrowing transactions. Basically, what we have within the laws is defined that Government Bonds must be in a certain form of paper. However, we have now moved through the Central Depository Schemes where securities are deposited in that form. We just basically want to harmonise the law with the technology."
}