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{
    "id": 736095,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736095/?format=api",
    "text_counter": 50,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Clause 3 of the Bill proposes to amend the Insurance Act in order to remove the requirement of the annual renewal of registration by insurers. This amendment is meant to introduce a perpetual licence for insurance. It removes this annual licence of insurance. Clause 4 of the Bill proposes to amend the Insurance Act in order to remove the requirement of renewal of registration by the insurance. This amendment is meant to introduce perpetual licence of insurance. Clause 5 of the Bill proposes to amend the Insurance Act by repealing Section 24 of the current principal Act which provided for transition to insurers that were carrying on insurance business at the time the insurance Act came into force to allow for a progressive implementation. Clause 5 is mainly dealing with the transition period in as far as the progressive implementation of this Act is concerned. This amendment is dealing with Sections 22 and 23 of the current principal Act. It is mainly meant to clean up the Act by removing what we call spent sections. Clause 6 of the Bill proposes to amend the Insurance Act to remove the requirement of the annual renewal of registration. Previously, we dealt with the licences, but now we are dealing with the registration. Same as before, it is meant to introduce perpetual licence for insurance."
}