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{
    "id": 575443,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/575443/?format=api",
    "text_counter": 266,
    "type": "speech",
    "speaker_name": "Hon. G.W. Omondi",
    "speaker_title": "",
    "speaker": {
        "id": 1169,
        "legal_name": "George Washinton Mallan Omondi",
        "slug": "george-washinton-mallan-omondi"
    },
    "content": "To begin with, it is very good that qualifications of insolvency practitioners have been introduced in Part II (6)(1) from (a) to (c). It sets out the qualifications expected of insolvency practitioners. Section 6(2) from (a) to (c) sets out disqualification. What has been happening is that anybody could be appointed as a receiver to a company. Those people ended up running down the companies and neither the shareholders nor the creditors benefited. They ended up stripping the assets of a company because there was no rule at all. Some of them were not qualified. This is now a good thing that sets out that they must now be qualified. The law also sets out the provisions under which some people can be disqualified."
}