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{
    "id": 699207,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/699207/?format=api",
    "text_counter": 140,
    "type": "speech",
    "speaker_name": "Hon. Katoo",
    "speaker_title": "",
    "speaker": {
        "id": 199,
        "legal_name": "Judah Katoo Ole-Metito",
        "slug": "judah-ole-metito"
    },
    "content": "Clause 11 of the Bill introduces two new sub-sections to Section 47 of the Act, which deals with the revocation of approval of a proposed merger. The proposed amendment introduces a financial penalty of up to 10 per cent of the preceding year’s gross annual turnover of the undertaking in Kenya. The proposed amendment further provides for penalties for a party to a merger who gives incorrect or misleading information, and who fails to comply with any condition attached to a merger approval. The amendment contained in Clause 12 introduces a new Section 70A, which allows the Authority, on its own initiative or upon receipt of information or a complaint from any source, to initiate investigations into a consumer complaint. As I conclude, I wish to assure Hon. Members that the proposals contained in this Bill are in conformity with international standards and best global practices on consumer protection and regulation of anti-competitive practices. They have been developed as a result of continuous monitoring of failures identified in the Act and are as a culmination of widespread stakeholder consultations. I beg to move and, with your permission, request the Leader of the Majority Party to second. Thank you."
}