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{
    "id": 570559,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570559/?format=api",
    "text_counter": 239,
    "type": "speech",
    "speaker_name": "Hon. Oyugi",
    "speaker_title": "",
    "speaker": {
        "id": 444,
        "legal_name": "Augostinho Neto Oyugi",
        "slug": "augostinho-neto-oyugi"
    },
    "content": "Hon. Kajwang’ was speaking to the fact that the Cabinet Secretary (CS) now has power to prescribe model articles of association. The model articles of association used to be the big thing in company law business. You paid for things that were already in existence because the model already existed, but this law allows the CS to prescribe those memoranda and articles of association, which will make it easier for purposes of registration of companies. That will save the amount of money that people use to pay for preparation of articles of association. Hon. Temporary Deputy Speaker, the other thing which this law does is that it makes it possible for a private company to be just a single natural person. Earlier on, if you wanted to be a private company, there was a requirement under the previous law, Cap. 486, that you had to have a partner, but this law allows one natural person to form a company. I think that is really good."
}