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{
    "id": 689257,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/689257/?format=api",
    "text_counter": 370,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 45 of the Bill be amended – (a) in paragraph (a) by inserting the words “institutions registered under the Co-operative Societies Act, Cap. 490” immediately after the words “SACCO Societies Act, 2008”; (b) in paragraph (c)(i) by inserting the words “institutions registered under the Co-operative Societies Act, Cap. 490” immediately after the words “SACCO Societies Act, 2008”; and (c) in paragraph (c) (ii) by inserting the following new sub-subparagraph immediately after subparagraph (da) – “(daa) institutions registered under the Co-operative Societies Act, Cap. 490”. We are seeking to include SACCOs which are registered under the Co-operative Societies Act and are not subject to the SACCO Societies Act. We propose that if any member of a SACCO defaults, regardless of whether or not the SACCO is subject to the SACCO Societies Act, he or she must have their name in the Credit Reference Bureau (CRB) so that we encourage people who take loans to pay. Just like if you default in a bank, your name will be circulated. If you seek additional financing, you first have to clear your name. This is to encourage people to repay their loans regardless of the SACCOs."
}