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{
    "id": 802992,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/802992/?format=api",
    "text_counter": 164,
    "type": "speech",
    "speaker_name": "Sen. Cherargei",
    "speaker_title": "",
    "speaker": {
        "id": 13217,
        "legal_name": "Cherarkey K Samson",
        "slug": "cherarkey-k-samson"
    },
    "content": "Mr. Deputy Speaker, Sir, we need to ensure that the functions are precise, concise and clear. The board should not just add other directions. We have instances where a CEO mismanages a parastatal or a board and the allegations are that the board sanctioned some of the decisions being implemented by the CEO. I now want to move to Clause 22 and I will rush through it because I only have two points, so that my colleagues can also have an opportunity to contribute. This is about appointment and functions of the Fund Manager. We should have a person with technical know-how because that is a person whose task will be to provide advice on investment or relevant strategies to be used and that person should have a background in investment. You cannot appoint a person from a background which is not relevant. It is important that we have somebody with technical know-how of how investments are done and how to deal with finances. The person will be key in terms of advising on the issues of contributions and running of the retirement scheme. Although it has been highlighted, it is important that we have a person who will ensure good running of the scheme. I still insist that a fund The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}