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{
    "id": 494350,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/494350/?format=api",
    "text_counter": 179,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "and an individual. It outlines the qualifications of the practitioner and for one to qualify to belong to that category of people. Clauses 8 to 11 of the Bill provide for the process by which a person may apply to the official receiver for authorization to act as an insolvency practitioner. You can become a practitioner, but there is a process by which authorization is granted. In this circumstance, publication may be granted or you might be refused issuance of a notice of authorization accordingly. So, as with any other professional body, there will be certain procedures and certification that you will have to go through. Part III of the Bill deals with bankruptcy and related processes. It provides the effects of bankruptcy on a person and the alternatives such a person may have to avoid. So, if you do not go that route, then Part III of the Bill provides the alternatives to avoid bankruptcy. Part III goes on to outline the process of adjudication by court on the application of a debtor or a creditor. Clauses 20 to 32 of the Bill relate to acts which when committed by a debtor, could amount to acts of bankruptcy as provided for under the Bankruptcy Act. Clauses 35 to 37 of the Bill provide for the effects of an execution process by either a creditor, who has made an application for adjudication of a debtor, or by any other creditor. Clauses 35 to 37 outline the court process with regard to creditor’s application for adjudication. Finally, this part also outlines the process through which a debtor may apply to the official receiver to have himself declared bankrupt. Part IV of the Bill deals with appointment of a receiver. It empowers a court to appoint a trustee as a receiver. This part also deals with the process through which this may be done. The process of appointing a receiver manager is well documented in Part IV of the Bill. Clauses 57 to 74 of Part IV of the Bill deal with the adjudication and provides for the date and time when bankruptcy commences. So, this Bill is very particular. The commencement of bankruptcy, its date and time is well documented within Clauses 57 to 64. The notification by the registrar of the court to the official receiver, the advertisement, all that process is clear. Clauses 68 to 74 of the Bill provide for the filing of statements by a debtor. The debtor must file a statement to argue his case. The holding of meetings with trustees as well as convening of the first meeting of creditors by the trustees--- So, it documents the administrative process in dealing with the debtors, the holding of meetings with trustees and their minutes. It is a whole administrative process. Clauses 81 to 97 go on to provide the manner in which meetings of creditors should be conducted. It outlines persons who are entitled to vote and those who are not entitled to vote during the meetings and confer a right upon any creditor."
}