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{
    "id": 566059,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/566059/?format=api",
    "text_counter": 358,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 8 of the Bill be amended— (a) by deleting paragraph (a); (b) in paragraph (b) by inserting the word “ethical” before the word “practice”; (c) in paragraph (e) by deleting the words “financial, securities and investments” and substituting therefor the words “investment and financial”; (d) in paragraph (g) by inserting the words “and integrity” immediately after the word “ethics”. I want my good friend, Hon. Duale, to relax because we are talking about the same thing. You are only proposing deletion of paragraph (a), which is what I am also doing. We are also proposing a consequential amendment as per what I have explained earlier. Clause 8 deals with the functions of the Institute which has been created. Clause 8(a) says:- “The functions of the Institute shall be to:- (a) advise the Cabinet secretary on matters relating to securities and investments in all sectors of the economy.” After consultations with the relevant ministry and other parastatals under the National Treasury, they say that function is already reserved for the Capital Markets Authority (CMA). Therefore, it might lead to conflicts between the two institutions as regards to the advice. Personally, I think advice can come from as many sources as possible because it is just advice. However, so that we avoid the conflicts, we proposed the deletion."
}