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"id": 657341,
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"type": "speech",
"speaker_name": "Hon. Mwiru ",
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"speaker": {
"id": 107,
"legal_name": "Alex Muthengi Mburi Mwiru",
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"content": "Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 68 of the Bill be amended in paragraph (b) by deleting the proposed new subsection (4) and substituting therefor the following new subsection− “(4) Unless otherwise provided in the charge instrument, if the chargee, holding a charge created subsequent in time to one in favour of a prior chargee, lends money or money’s worth on the security of a charge to a chargor and it later transpires that a prior chargee or the chargor himself acted dishonestly or fraudulently in procuring the charge, the prior chargee’s right to repayment under the charge shall be postponed to the rights of the subsequent chargee.”"
}