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{
    "id": 496004,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/496004/?format=api",
    "text_counter": 986,
    "type": "speech",
    "speaker_name": "Hon. (Ms.) Abdalla",
    "speaker_title": "",
    "speaker": {
        "id": 382,
        "legal_name": "Amina Ali Abdalla",
        "slug": "amina-abdalla"
    },
    "content": "Hon. Temporary Deputy Chairman, anytime the investors import heavy machinery, which is the movable assets, it is in their accounting documents. When the Mineral Rights Board shall be receiving these statements--- The Board will know when the accountants say that the assets have depreciated, say, 25 per cent and all that. Once it is fully depreciated they hand it over to the Republic and that becomes the property of the Republic. When the situation is that they have not been fully depreciated – they are supposed to be monitored - then with regard to the “underpreciated” amount, the first right of sale will be to the Republic. Do not forget that this Bill proposes an investment arm for the mining sector under the mining corporation. That is the entity that will own the movable and immovable assets that we put in place. I just want to note that the Republic will be the one to receive everything and then share it out with the counties. So, the amendments on who it is vested in, in both sub- clauses 3 and 4 it should be the Republic and not the counties."
}