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{
    "id": 864774,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/864774/?format=api",
    "text_counter": 480,
    "type": "speech",
    "speaker_name": "Sen. Farhiya",
    "speaker_title": "",
    "speaker": {
        "id": 13179,
        "legal_name": "Farhiya Ali Haji",
        "slug": "farhiya-ali-haji"
    },
    "content": "“There shall be a chief executive officer of the Scheme who shall be appointed by the Board through competitive recruitment process on such terms as may be specified in the instructions of appointment.” It is also my contribution that this person should not serve for more than six years for the reasons I stated earlier. Madam Temporary Speaker, Clause 18(3)(c) states that- “A person is qualified for appointment as the chief executive officer if that person- (c) has at least ten years of experience of which five years should be at senior management level in a profession relevant to the functions of the Scheme as may be defined in the Regulations;” I have not seen somewhere else where people have mentioned this in terms of regulations. When these regulations are being formulated, let the Retirement Benefits Act be consulted in this process. Otherwise, we might come up with regulations that are not for the benefit of these pensioners. Similarly, Madam Temporary Speaker, once you say that it is maximum of six years, another extra subsection should be added to Clause18(6). Subsection (6)(a) states that- “Before the Chief Executive Officer is removed from office under subsection (5), the chief executive officer shall be given, sufficient notice of the allegations made against him or her;” Subsection 6(b) goes on to state that- “An opportunity to be heard either in person or by a legal representative.” I am suggesting that because of the earlier comment, this clause should be included at the expiry of the term of office. Madam Temporary Speaker, in terms of the role of the custodian, I am proposing that another sub-clause should be included, whereby one of their functions should be to reconcile the assets of the funds between their records and that of the Fund manager. Another clause should also be included that says that: “Any other obligations as defined by the Retirement Benefits Act.” This is because there is a lot of work that went into this Act that regulates pension schemes. This is so that if we have omitted this provision here and they do not perform, we will then still have recourse and say that they were supposed to go as per that. In Clause 23, we have the Administrator and the Chief Executive Officer (CEO) and one of them should go. That Clause should be reviewed in totality."
}