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{
    "id": 740523,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/740523/?format=api",
    "text_counter": 117,
    "type": "speech",
    "speaker_name": "Hon. Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "thereof, so that when it comes to issues which may go before a court of law, there is full disclosure. If the registers are not updated then there can be some form of recourse or deregistration. Therefore, it is important to note that the issue of holding companies has been addressed in this Amendment Bill. I had alluded earlier on how to deal with the issue of subsidiaries and companies being owned by others because it is a very important aspect. Another issue which is very well addressed in this Amendment Bill is intellectual property. This is a grey area. Is an intellectual property owned by an innovator who happens to be a director of that particular company or is it owned by the company because it employed a certain individual to pursue some sort of improvement or research? A clear definition will help in issues of jurisdiction, determination of any dispute and whatever area that has been covered, if such issues arise. This is also very important because I am on record as having brought a Motion to the Floor of this House about youth and innovation. One of the great challenges where our youth have been taken advantage of is in the issue of intellectual property rights. That definition has to include trademarks, registered designs and copyrights. It will really help in terms of how we can administer such issues within the ambit of a registered company. It would be important to also highlight that the simplification of the process of ownership of a company where a single individual may own a company is very timely. This is because within the preferential procurement system of 30 per cent for marginalised groups, youth, women and persons with disabilities, it helps entrepreneurs within our population to get an opportunity to carry out business without being bogged down by having to create directors who are dormant. I want to imagine that if that provision is properly enhanced by the various amendments that I have seen, we will have a situation where we spur the productivity and growth of our economy. This by itself will lead to a greater increase in terms of the job opportunities for young people. Taking advantage of the great development record that the Jubilee administration has had, it is important to ensure that the regime by the companies encourages such an endeavour. Our young people who are made of fine clay have what it takes to spur the economy and bring our development forward, just as has been the case of the Standard Gauge Railway in relation to ensuring that we industrialise our economy. With such support, combined with the very great effort of the Government through the National Research Fund, in such initiatives with greater speed where you can transport goods and services with the idea that we have a greater road network and improved healthcare, it would then mean that such companies that would want to establish themselves within our country. This would ensure that we increase that productivity and give an opportunity to our people to enterprise and grow wealth which would lead to the greater prosperity of our country. As I conclude, this is a very timely Bill. It is important that it has come only two years after we passed a very humongous piece of legislation. We believe that as legislators of the 11th Parliament, we have done our best to ensure that we create an enabling environment for business. I support the Bill."
}