{"id":699207,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/699207/?format=json","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."}