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{
    "id": 863433,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/863433/?format=api",
    "text_counter": 311,
    "type": "speech",
    "speaker_name": "Isiolo North, KPP",
    "speaker_title": "Hon. Hassan Hulufu",
    "speaker": {
        "id": 13348,
        "legal_name": "Hassan Oda Hulufo",
        "slug": "hassan-oda-hulufo-2"
    },
    "content": "Looking at the proposed amendments, I specifically want to talk to Section 51 of the Principal Act. If you look at the provisions of that clause, it relates to the role of the authority in terms of its supervisory work as well as enforcement of action at times when the SACCO Societies violate provisions of the principal Act. There are other regulations put in place to regulate SACCO Societies businesses. The proposed amendments to Section 51(m) of the principal Act relates to imposition of financial penalty on the society. However, we know that societies are run by directors and their employees to manage savings of Kenyans. Therefore, if we stop at what was provided for under the old Act, where the The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}