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{
    "id": 575964,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/575964/?format=api",
    "text_counter": 102,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Pukose",
    "speaker_title": "",
    "speaker": {
        "id": 1458,
        "legal_name": "Robert Pukose",
        "slug": "robert-pukose"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker for allowing me to contribute to this Companies and Insolvency Legislation which is a consequential amendment to the two Acts. This Bill, as a consequential amendment, harmonizes the Insolvency and Companies Acts of 2015. Clauses 8 to 22 of the Bill propose to amend the Societies Act to, among other things, provide for the concept of liquidation of societies, the procedure to be followed when a society is solvent and to set out supplementary provisions relating to liquidation of societies. As you are aware, we have several societies and this Bill aligns the Societies Act with the Insolvency and Companies Acts of 2015. Clause 28 of the Bill proposes to amend Section 42 of the Wildlife Conservation and Management Act which relates to certificates of ownership and possession of trophies. The amendment allows the liquidator or administrator of a company that is in liquidation or under administration, a bankruptcy trustee or the personal representative of a deceased person’s estate to be in possession of trophies without having the certificate of ownership. At that time, it may be a problem for that person to get the certificate of ownership. While in transition, those trophies may get lost. Therefore, this consequential amendment gives room for those trophies to be kept under custody and the person who is holding them not to be fined for possession. Clauses 32 to 74 of the Bill also propose to amend the Insurance Act to require the Cabinet Secretary to lay a report on the operation of the Act before the National Assembly within one month after receiving the report. This Bill also introduces the concept of liquidation of an institution and insolvency of an insurer. The Bill specifies that only authorized persons can carry 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."
}