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{
    "id": 740515,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/740515/?format=api",
    "text_counter": 109,
    "type": "speech",
    "speaker_name": "Hon. (Dr.) Nyikal",
    "speaker_title": "",
    "speaker": {
        "id": 434,
        "legal_name": "James Nyikal",
        "slug": "james-nyikal"
    },
    "content": "Thank you, Hon. Speaker for giving me the opportunity to contribute to this Bill. The Companies Bill, 2015, as others have said, was such a huge document that one needed a basket to carry it to the House. However, it was an extremely important document. The amendments proposed here seek to refine what was an extremely important document. The whole purpose is to make the business environment in the country easier and to make business competitive so that we can attract investors both locally and from foreign destinations. Business is the essence of all nations. All the revenues and resources that countries have majorly come from businesses. It is, therefore, important that the business environment is supportive and this is what this Bill is proposing to do. Hon. Speaker, the Bill addresses areas that have been of concern in this country as far as business is concerned. For example, starting business in this country can sometimes be difficult. We are aware that companies have tried to start businesses here and have had to move away because of impediments. The amendments proposed here will make things much easier. This Bill makes clearer the responsibilities and liabilities of the directors. It has been a practice in this country to form companies to do specific businesses, get awarded Government tenders or handle certain transactions. Immediately the work is done, these businesses are dissolved and their directors do not own any liabilities. If we go through the process of lifting the veil on these directors, it is extremely lengthy. This Bill makes it easy for us to unveil the directors and, in fact, their liabilities are now in law."
}