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{
    "id": 895941,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/895941/?format=api",
    "text_counter": 127,
    "type": "speech",
    "speaker_name": "Homa Bay Town, ODM",
    "speaker_title": "Hon. Peter Kaluma",
    "speaker": {
        "id": 1565,
        "legal_name": "George Peter Opondo Kaluma",
        "slug": "george-peter-opondo-kaluma"
    },
    "content": " Thank you, Hon. Speaker. The amendments I am proposing to this particular Motion on the report by PAC are being drawn from the observations and the findings of the Committee itself. We sat in this Parliament. I am happy my brother, Hon. Ochieng’, is now with us in the House. But it is in the 11th Parliament when we enacted the Companies Act now in operation. At Section 974 of the Companies Act, we provided that no foreign company shall do business in Kenya until and unless it is registered with the Registrar of Companies and its name entered in the register of foreign companies. That is the import and the literal reading of Section 974(1). When you go to section 974(3), a penalty is prescribed in law for a foreign company that does business in Kenya before it is registered with the Registrar of Companies at Sheria House. That penalty is a criminal penalty. That provision in Section 974(3) says that such company will be liable to a fine not exceeding an amount and on subsequent breaches there will be fines."
}