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{
    "id": 463393,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/463393/?format=api",
    "text_counter": 275,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Yes, hon. Temporary Deputy Chairlady but before I move the amendments, I wish to withdraw all the words appearing under sub-paragraph (d), on page 362 of the Order Paper, reading “non-microfinance bank business” means” and replace them with another definition to read “non-microfinance bank business” means “microfinance business other than a microfinance bank business as defined under the Act” so as to make the amendment clearer than it currently is on the Order Paper. Therefore, subject to withdrawal of the words that I have just pointed out and replacing them with those that I have read out, I beg to move:- THAT, Clause 2 be amended— (a) in paragraph (b), by inserting the following new definition in its proper alphabetical sequence— “current account” means an account maintained by a microfinance bank for and in the name of, or in a name designated by, a customer of the microfinance bank into which money is paid by or for the benefit of such customer and on which cheques and other bills of exchange may be drawn by, and transfers and other banking transactions made on the instructions of, the customer; “microfinance bank” means a company which is licensed to carry on microfinance bank business, and includes all branches, marketing units, outlets, offices and any other place of business that may be licensed by the Central Bank of Kenya; “microfinance bank business” means— (a) the accepting from members of the public of money on deposit repayable on demand or at the expiry of a fixed period or after notice; (b) the accepting from members of the public of money on current account and payment on and acceptance of cheques; The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}