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{
    "id": 275883,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/275883/?format=api",
    "text_counter": 568,
    "type": "speech",
    "speaker_name": "Mr. Kimunya",
    "speaker_title": "The Minister for Transport",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": " Mr. Chairman, Sir, I beg to move:- THAT, Clause 56 of the Bill be amended- (a) by renumbering the existing clause as subclause (1); (b) by inserting the following new subclauses immediately after the new subclause (1)- (2) The appointment of the Corporation as the liquidator of an institution shall have the same effect as an appointment of a liquidator by the court under the provisions of Part VI of the Companies Act. (3) No liquidator of an institution shall be appointed under the provisions of the Companies Act if the Corporation has already been appointed as liquidator. (4) No liquidator of an institution, other than the Corporation, shall be appointed without approval of the High Court. (5) The High Court shall not grant approval for the appointment of a liquidator under sub section (4), unless the Central Bank certifies that it does not intend to exercise its powers under this section."
}