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{
    "id": 374803,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/374803/?format=api",
    "text_counter": 503,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Hon. Temporary Deputy Speaker, I was in the process of saying that the other major issue that this Bill is trying to address is that of corporate governance. This Bill does this in two ways. Previously, CMA itself used to issue rules and regulations and enforce them, et cetera . The current Bill proposes to give power to the Cabinet Secretary to make the rules and regulations whereas CMA issues guidelines and notices and enforces them. This is in line with the new Constitution, which bars an entity from undertaking all the processes alone. Secondly, the Act gives power to the CMA to manage the Investor Compensation Fund. However, this Bill seeks to give that power to an authority called Compensation Fund Board, so that they can manage those funds and give CMA time to concentrate on its mandate."
}