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{
    "id": 264885,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/264885/?format=api",
    "text_counter": 743,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Transport",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Madam Temporary Deputy Chairlady, I agree with the Committee that the Authority may not need to deposit in a bank any excess funds, but Clause 32 takes care of any excess money they will have. Clause 32(2) says:- “The Authority may place on deposit with such bank or banks any money not immediately required for the purposes of the Authority.” It gives it power to actually open a bank account and put in it its money at the beginning of the month which can be withdrawn at the end of the month. If we delete this we will be denying it the power to actually deposit some money in a bank. Let them have this power but they will not necessarily need to engage in investing funds in trusts or other securities; in any case, they will not have that kind of money, anyway; but deleting everything will actually deny them the opportunity to open a bank account and put their money in it for the time when they will not need it for operations. If the Committee looks at it from that angle, it will see that having the clause is harmless, but deleting it might do harm."
}