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{
    "id": 740505,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/740505/?format=api",
    "text_counter": 99,
    "type": "speech",
    "speaker_name": "Hon. (Dr). Pukose",
    "speaker_title": "",
    "speaker": {
        "id": 1458,
        "legal_name": "Robert Pukose",
        "slug": "robert-pukose"
    },
    "content": "Hon. Speaker, the Bill ensures that directors take responsibility and even liability in the running of companies. It is a wake-up call because we have had cases where companies are formed, but after a short span of time they collapse. There are many insurance companies, for example the Kenya National Assurance Company Ltd, which were started, but were run down and so they collapsed. Another example is the Health Maintenance Organizations (HMOs) which collapsed with people’s investments. We have had banks where small investors like the mama mboga invest their money, but those banks have collapsed with people’s money. So, this is an important clean up exercise we are engaged in now. It is in line with what the President said recently. We have legislated on laws that will create a very good working environment for investors in this country. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}