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{
    "id": 5936,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/5936/?format=api",
    "text_counter": 449,
    "type": "speech",
    "speaker_name": "Mr. Wamalwa",
    "speaker_title": "",
    "speaker": {
        "id": 148,
        "legal_name": "Eugene Ludovic Wamalwa",
        "slug": "eugene-wamalwa"
    },
    "content": "Madam Temporary Deputy Speaker, I also wish to support this Bill. Mrs. Odhiambo-Mabona had mentioned earlier that she was privileged to be taught by the good professor, the Attorney-General. I also want to go on record by saying that I was also his student. I heard one gentleman here saying that he was behaving like a professor when answering one of the Questions. I want to put it on record that he is, indeed, a professor. We are very privileged to have been his students. Madam Temporary Deputy Speaker, on the Bill before the House, we are very happy that the era of reforms is here with us. Looking at the history of this particular Bill, it goes way back to 1992 when the former Attorney-General, who was one of the longest serving in our history, formed a task force to review the Companies, Investments, Partnerships and Insolvency Acts. Even as we look at reforms in other institutions; the Judiciary, the police and others, we must look at how these reforms can also improve the way we do business in this country and how we can encourage investors who come to this country and wish to do business. They will do so through legal relationships either through partnerships or legal liability companies and so on and so forth. It has been a wish of many investors in this country that we have more put in by way of legislation to make it easier for them to incorporate companies and register partnerships to do business in this country. We have lost many investors to Rwanda and other countries that have, through legislations and proper policies been friendly to investors, made it very easy to have a one-stop kind of stop where people can get a partnership registered in a day or a company. They are able to invest. Looking at this Bill, it is true that for many people, because of the issue of the unlimited nature of partnerships, the growth of partnerships has been affected in this country. Therefore, the aspect of having limited partnerships and providing proper legal framework is something that will go a long way in encouraging people to form partnerships to do business with a clear legal framework, how they can resolve their disputes and how they can move this country forward. I only urge that in the areas where they have provided for registration, particularly Sections 68 and 69 which give the Registrar powers of registration, perhaps should not have been left open ended. Madam Temporary Deputy Speaker, upon receiving an application for registration of a limited partnership under Section 68, the Registrar shall, if satisfied that Section 65 has been complied with, register the limited partnership. It is general in terms, although they are empowered to make the rules. I would have urged that we should have specific time-bound provisions that can make it very clear that when you go to have a partnership registered, upon meeting the requirements within this period of time, you should have this registration done and completed. We also want to encourage young people in this country who have been tarmacking and looking for jobs all over and have been frustrated over time because they have not been able to get the employment they have been looking for, to also form partnerships. We need to look at a way of making this legislation and requirements not too prohibitive so that we can find young graduates who have come out of colleges and want to register partnerships to be able to do so in a more easy and friendly manner. We do urge that these considerations be made even as we make this legislation. With those few remarks, I beg to support."
}