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{
    "id": 580234,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/580234/?format=api",
    "text_counter": 116,
    "type": "speech",
    "speaker_name": "Hon. Chepkong’a",
    "speaker_title": "",
    "speaker": {
        "id": 1154,
        "legal_name": "Samuel Kiprono Chepkonga",
        "slug": "samuel-kiprono-chepkonga"
    },
    "content": "Hon. Temporary Deputy Chairman, I beg to move:- THAT, Clause 38 of the Bill be amended in the proposed section 22 of the Insurance Act by deleting paragraph (b) and substituting therefor the following paragraph— “(b) at least one third of the controlling interest in the body (whether in terms of shares, paid up share capital or voting rights) is wholly under the control of— (a) citizens of a partner State of the East African Community; (b) a partnership whose partners are all citizens of a partner State of the East African Community; or (c) a body corporate whose shares are wholly owned by citizens of a partner State of the East African Community or the Government, or a combination of them.” We are seeking to align the proposed amendment to the Insurance Act. We are seeking that Clause 38 of the Bill be amended in the proposed Section 22 of the Insurance Act by deleting paragraph (b) and substituting therefor the new paragraph as stated in Clause 38. As you know, Kenya has signed the East African Protocol in terms of free movement of labour. That in itself was restricting that Protocol, yet the Insurance Act has provided a very comprehensive definition of what a controlling interest in a body is. So, we have just lifted what is already contained in the Insurance Act, so that this provision can be in line with that particular Act."
}