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{
    "id": 5931,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/5931/?format=api",
    "text_counter": 444,
    "type": "speech",
    "speaker_name": "Prof. Muigai",
    "speaker_title": "The Attorney-General",
    "speaker": {
        "id": 408,
        "legal_name": "Githu Muigai",
        "slug": "githu-muigai"
    },
    "content": " Madam Temporary Deputy Speaker, I beg to move that the Partnership Bill, 2010 be now read a Second Time. Madam Temporary Deputy Speaker, I am grateful for the intervention of my hon. colleague. This Bill was developed as a result of the recommendations of the taskforce on companies, insolvencies and partnerships that was formed in 1992. The Bill is intended to provide clarity with regard to partnerships, particularly with regard to the manner in which partnerships break up or are wound up. In addition to this, this Bill has elaborate provisions with regard to limited partners in a partnership and the role and duties to be performed by such limited partners. The Bill makes a distinction between general partnerships and limited partnerships. Hon. Members may recall that several weeks ago, we already enacted the Limited Partnership Act. Madam Temporary Deputy Speaker, Part 1 of this Bill relates to preliminary provisions, essentially bodies that are excluded from the scope of the Act. Part II consists of provisions relating to general partnerships. Part III which essentially touches on clauses 21 and 25 deals with the liabilities of the partners in a partnership. Clauses 26 to 28 provide for the manner in which a person may join an existing partnership as well as the circumstances under which a person may cease to be a partner in or resign from a firm. Clauses 35 to 37 deal with the break-up of a partnership and the effect of that break-up on the partnership. Clauses 43 to 55 provide for court powers in relation to partnership outlining essentially situations in which the court can intervene to save partners’ interests in the partnership, et cetera . Part III of the Bill deals with the special category of limited partnerships in the context of the Bill. This is limited to mean in addition to the general partners who have unlimited liability. Clauses 68 to 70 deal with the registration of partnerships and imposes a duty and an obligation on all persons intending to register a partnership to deposit documents with the registrar of partnerships. Madam Temporary Deputy Speaker, Part IV contains miscellaneous provisions and empowers the Minister to make rules and regulations for the registration of limited partnerships and for the better carrying into effect of the provisions of the Bill. The First Schedule to the Bill qualifies the circumstances where a person cannot be said to carry on a business with another person in partnership. The Second Schedule provides for the winding up of a partnership. Third Schedule outlines the functions of a provisional liquidator which includes the preservation of the assets of the company. The Fourth Schedule outlines the activities that may be undertaken by limited partners in relation to the partnership which include the taking of decisions with regard to the matters outlined there. The Fifth Schedule contains special provisions on limited partnerships. Finally, it provides for the lodging of documents with the registrar, empowering the registrar to designate persons who may receive documents on that behalf. Madam Temporary Deputy Speaker, I beg to move."
}