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{
    "id": 570468,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570468/?format=api",
    "text_counter": 148,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Part I deals with preliminary matters, terminologies and definitions while Part II deals with the types of companies. Part III deals with the constitution of a company and the articles of association. Part IV deals with the capacity of a company in relation to contracts and the execution of documents and deeds. Part V deals with Clauses 48 to 68. It deals with company names, registration and use of names which are offensive. This Part deals with registration of a company and makes sure that you do not name your company using offensive words. Part VI deals with conversion of companies and alterations while Part VII deals with the membership of a company. It provides for the registration of members and prohibits a subsidiary company from being a member of its holding company. It also deals with how a subsidiary company deals with a parent company. Part VIII provides for the exercise of rights of members of that company. This Part enables certain persons to have information rights relating to that company in terms of trading. Part IX deals with the company, its directors, their duties and functions and how they can declare their interest where it is involved. Part X deals with the disqualification of directors from holding office while Part XII deals with the company secretaries for both public and private companies and what their qualifications, functions and duties are. Part XIII deals with resolutions of a meeting of a company, how they deal with their Annual General Meeting (AGM) and the resolutions of that company. Part XIV deals with the share capital of a company, how it is transacted and transferred, how payment of shares is done and how independent valuations take place in a company. Part XV deals with reorganisation of an existing company while Part XVI deals with the acquisition by a limited company of its own shares. It sets out the general rules in terms of distribution of shares, the justification of the distribution of those shares and the relevant accounting matters and procedures. It sets out general rules against a limited company. Part XVII of the Bill, that is Clauses 485 to 494, deals with the distribution of a company’s assets to its members - how you distribute assets among members and the profits of that company which are available for that purpose. It deals with justification in terms of distribution of profit and shares."
}