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{
    "id": 570503,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570503/?format=api",
    "text_counter": 183,
    "type": "speech",
    "speaker_name": "Hon. Kajwang’",
    "speaker_title": "",
    "speaker": {
        "id": 2712,
        "legal_name": "Tom Joseph Kajwang'",
        "slug": "kajwang-tom-joseph-francis"
    },
    "content": "In this Bill, we are proposing that any Wanjiru, Wanjiku or Adhiambo can simply go to the Registrar, get prepared forms, fill them, deposit them with the Registrar and she will have a business vehicle that she can use for trade. This is wananchi -friendly. This is a simple person’s Bill. You do not have to have a lot of wealth or to have complicated business systems to have a running company. That way, therefore, we are able to widen the tax bracket. This is because the small business people are able to effectively participate in business, that data is captured by the Kenya Revenue Authority (KRA) and everybody who does some business is able to participate in the growth of the nation by paying taxes. So, the Bill creates efficiency, swiftness and is friendly to wananchi because it is simple to understand. The Registrar has a lot of powers, which are exercised on the counter. You simply go to the counter and find a lot of solutions, which were not there in the recent past. I want to combine Parts I to Part X of this Bill. Part I begins with what a company is. In The Companies Bill we are going to repeal the definition of a company as has been defined in the Company Act, Cap. 486 as anything which is either limited or unlimited. That is tautology. In this Bill, we have defined a company. We have defined what can be limited by shares, what a private company is and what a public company is in simple terms which clearly state the intention of the Bill. You will see, for example, that constitutions of companies or Articles of Association of companies are very complicated issues even to lawyers. I must confess that I am one of those lawyers who would just copy and paste the Memorandum and Articles of Association that we used to have in the Companies Act. We used to copy and paste but we would charge Kshs50, 000 for doing that. Clients would have to pay because we are the only ones who had that opportunity to do it for them, but right now we have made model articles. Already, there are structured articles which will come as regulations to this Bill and everybody will have them. So, you do not need a lawyer or a company secretary to do it for you. That is in the company’s constitution."
}