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{
    "id": 844791,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/844791/?format=api",
    "text_counter": 198,
    "type": "speech",
    "speaker_name": "Kipkelion East, JP",
    "speaker_title": "Hon. Joseph Limo",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": " Let me give further information. Currently, what we have put in legislation here is already happening. The reality is that when you go to the bank, this regulation is there requiring that you must explain where you got the money you are depositing. You must also equally explain when you are withdrawing any amount above Kshs1 million and where you are taking it. So, the regulations that are already in the bank do not have the full force of the law. We have now put it in law that the Central Bank can make regulations. We have now prescribed that they can make the regulations. However, sub-clause (2) says that the Central Bank shall prescribe the regulations under sub-clause (1) within 30 days of coming into force of this Clause. That means that whatever regulations that are being used by the banks now will be null and void in 30 days, if they are not brought to this House."
}