Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 575945,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/575945/?format=api",
    "text_counter": 83,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Clauses 30 and 31 of the Bill deal with insurance. It is about the Motor Vehicle Third Party Risk Act. It provides for contracts in the Insurance Act, liabilities to third parties and also harmonizes it with what is provided in the Insolvency Bill, 2015. Clauses 72 to 74 deal with the Insurance Act. It harmonizes it with the Companies Bill and the Insolvency Bill. Clauses 75 to Clause 79 propose to amend the Banking Act. This provides leeway for the process of liquidation of any institution. It specifies the powers given to the Central Bank to place any financial institution under a receiver manager and an administrator. It gives that institution the right of appeal which is placed within that administrative process. This is also provided in the Insolvency Bill, 2015. Clause 124 of the Bill seeks to amend the Business Act in order to provide for the Act not to apply to the transfer of certain businesses. Clause 125 proposes to amend the Hire Purchase Act, to align it with the provisions which are in the Insolvency Bill, 2015 and further to provide other agreements binding on the trustee or the liquidator of any company. I am sure the Seconder will go through all the other clauses, including 126, 134, 144, 164, 165 and 167 – and all the way to Clause 180, and take the House through the different existing Acts which must, in one way or the other, be aligned and harmonized with the Companies Act, 2015 and the Insolvency Act, 2015. Basically, this is a simple Bill that is following the mother Bills; the Companies Act and Insolvency Act. With the enactment of those two laws, there are a number of other remote pieces of legislation that must either be deleted, aligned or harmonized with the two laws that we are anticipating the House will deal with. With those many remarks, I will ask my colleague, a member of the Departmental Committee on Justice and Legal Affairs, Member of Emurua Dikirr, Hon. Ng’eno, to second. It is not dik dik as one Member has said. He is a Member from the lake. I will ask my colleague to deal with this important Bill. Thank you, Hon. Deputy Speaker."
}