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{
    "id": 389508,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/389508/?format=api",
    "text_counter": 181,
    "type": "speech",
    "speaker_name": "Hon. Gichigi",
    "speaker_title": "",
    "speaker": {
        "id": 1909,
        "legal_name": "Samuel Kamunye Gichigi",
        "slug": "samuel-kamunye-gichigi"
    },
    "content": "claims or sourcing for further funding. This is a trend that can only be said to be useful to the many depositors who, in the past, as has been stated, suffered in the hands of collapsed financial institutions. However, I do have a small problem and I will propose that the Committee that has brought these amendments to look into it. Clause 10 of the Bill which proposes to amend Section 27 of the Principal Act by inserting Sub-section 4 is specifically stating that the corporation shall appropriate for future contributions to set off unpaid insured deposits and may resort to other sources of funding allowed under the Act. My reading of the Memorandum of Objects and reasons is that the corporation can actually go to contributors instead of demanding for advance payments for a future contribution. That will obviously be wrong. I think the proposed amendments will take care of that situation so that we do not give a parastatal authority to demand payments in advance which is literally borrowing from its contributors."
}