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{
    "id": 672197,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/672197/?format=api",
    "text_counter": 337,
    "type": "speech",
    "speaker_name": "Sen. Mwakulegwa",
    "speaker_title": "",
    "speaker": {
        "id": 101,
        "legal_name": "Danson Mwazo Mwakulegwa",
        "slug": "danson-mwazo"
    },
    "content": "Mr. Temporary Chairperson, Sir, I beg to move:- THAT, Clause 53 of the Bill be amended – (a) in sub-clause (2) by inserting the following new paragraph immediately after paragraph (c) – (d) the taxes payable with respect to the transaction have been assessed. (b) in sub-clause (9) by deleting the words “an exploration” appearing immediately after the words “or control of” and substituting therefor the word “a”; (c) by inserting the following new sub-clause immediately after sub-clause (11) – (12) A person who contravenes the provisions of this section commits an offence and on conviction, shall be liable to a fine of not less than ten million shillings or to imprisonment for a term of two years or to both. The Committee proposes to amend Sub-clause 2 of Clause 53 by imposing a requirement for assessment of tax prior to the transfer of an interest in a petroleum agreement. This would help to avoid litigation as has been the case in some jurisdictions and would help to protect the interests of the Cabinet Secretary (CS) in ensuring that all the requirements and obligations are adhered to, prior to the transfer of the interest. In Sub-clause (9), the Committee proposes to amend it in order to clarify that provisions should apply to any company with an interest in a petroleum agreement and not just to an exploration company or joint venture. Confining this requirement to the two entities is likely to leave out other entities with an interest in a petroleum agreement. Under the same on sub-clause 12, we propose to amend Clause 53 by introducing a new sub-clause (12), which imposes a penalty for breach of the provision of the clause. This will ensure compliance and deter persons intending to contravene the provisions. The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate"
}