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{
    "id": 570470,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570470/?format=api",
    "text_counter": 150,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "important for our economy and international investors. It introduces something very unique. It also introduces the use of websites to provide information and financial statements of a company. Hon. Temporary Deputy Speaker, Part XXVIII, which covers Clauses 709-771, provides for the auditing of a company’s financial statement. It provides for how to deal with audited accounts, appointment of auditors and functions of the auditors who are going to audit the company’s accounts. It also gives members the right to raise audit concerns at their meetings. It ensures that only persons who are properly supervised and qualified are appointed statutory auditors. This will stop a company that wants to hide its financial capability and evade paying tax. Some companies can pick any auditor from the backstreet. This section provides that the shareholders and the regulating body must be convinced that the people appointed to do the company’s audit have been appointed as statutory auditors. It also provides for the protection of members against oppressive conduct and unfair prejudice. This relates to land-buying companies. Part XXX, which covers Clauses 830-877, establish the Office of the Registrar of Companies and provides for the function of the Office of Registrar of Companies and the fees payable to the Registrar under this Act. It also outlines the requirements and powers relating to registration of documents. Part XXXII deals with the powers of the Registrar to strike the name of a company off the Register of Companies and how to restore it. This part elaborates how to restore a company on the Register of Companies and the circumstance under which a company can be deregistered. Part XXXIV deals with the merger and divisions of public companies. It addresses issues to do with how public or private merge, the conditions and how to deal with the procedure of merging."
}