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{
    "id": 570471,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570471/?format=api",
    "text_counter": 151,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Hon. Temporary Deputy Speaker, Part XXXVI gives leeway to foreign companies. It provides the procedure of registering a foreign company, the regulations governing the operations of a registered foreign company, how foreign companies can do business and be assured of their investments in our country. This Bill seeks to reduce the cost of doing business in Kenya. Part XXXVIII provides for how to keep company records. Company records may be kept in both hard and soft copies. Part XXXIX deals with the service of documents on a company, secretaries and directors. It gives the authorization of how to send a document or information by electronic means. It also shows how to keep safe classified information of a company. Part XL specifies the valuation requirement that must be used when valuing the property of a company, under the proposed Act. Finally, Part XLI, which covers Clauses 1023-1027, contains miscellaneous provisions, which are common in each and every Bill. The Bill contains schedules, which give elaborate provisions in the Bill. They give effect to the different provisions contained in this Bill. The First Schedule prescribes the rules that will apply for the purpose of making a determination when a director is connected with a body corporate for the purpose of Part IX of this Bill. The Second Schedule contains matters for making a determination whether a person is fit to be a director; the parameters that make one suitable for the position of a director of a company, and what disqualifies one from becoming a director. The Third Schedule provides for distribution of assets of a company. The Fourth and Fifth Schedules, respectively, specify persons and authorized disclosures for the purposes of Clause 831 on prohibition of disclosing information under specific provisions. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}