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"type": "speech",
"speaker_name": "69 Friday, 24th August, 2012(P) Mr. Ruto",
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"content": "Mr. Temporary Deputy Chairman, Sir, yesterday we had serious issues with these two words, “substantial” and “control”. It is hardly definitive or clear. I am persuaded to go by hon. Lang’at’s specific word, that is, “majority”. This is because if you are a majority shareholder in a private company, it means that it is yours; it hardly belongs to anyone else. However, “controlling” is debatable. Having a shareholding of 15 per cent could be construed to mean controlling shares and so is a 25 per cent shareholding. So, it is a highly debatable issue. If you are a majority shareholder then you should not trade with the organization where you work. Yesterday’s provision was worse such that a lot of hon. Members were itching towards deleting the entire Clause 17. The Attorney-General should do us a favor and forget about this word, “controlling”."
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