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{
    "id": 45840,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/45840/?format=api",
    "text_counter": 267,
    "type": "speech",
    "speaker_name": "Mr. Baiya",
    "speaker_title": "",
    "speaker": {
        "id": 8,
        "legal_name": "Peter Njoroge Baiya",
        "slug": "peter-baiya"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, if one was to look, for instance, at the process of incorporation of companies, the whole idea of the company is to create an avenue for interested traders or investors to acquire a vehicle through which to conduct business under the benefit of limited liability concept, which restrict their liability to what they have invested in the company. However, in our particular experience, that has been grossly abused. Companies get registered not to engage in business, but even to conduct fraud. We have seen companies being formed to access illegally acquired properties and funds. It is even on record that some companies have been formed to conceal the names of those who are doing that. The legislation, I hope, will seal those kinds of purposes or scope of the company registration to ensure that it is defined. Rather, the companies are being incorporated for very specifically legitimate purposes."
}