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{
    "id": 928865,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/928865/?format=api",
    "text_counter": 137,
    "type": "speech",
    "speaker_name": "Maragwa, JP",
    "speaker_title": "Hon. (Ms.) Mary Njoroge",
    "speaker": {
        "id": 13421,
        "legal_name": "Mary Wamaua Waithira Njoroge",
        "slug": "mary-wamaua-waithira-njoroge"
    },
    "content": "I also want to support my colleagues who talked about the definition of “director” so that we do not kill small companies that start as business names, or where we have directors and yet they have not gone to school. Many of these companies are very successful. When a company is started, the individuals forming the company automatically become founding directors. Even when the company grows, they never cease to be founding directors. The issue of standard qualifications and appointments, according to the requirement of the Co-operative Societies Act and other Acts, might be a bit misleading. We might kill the spirit of some of these small companies that are being started by people who never stepped in a class. That is why I am joining my colleagues to say that we really need to look at this Bill that proposes the institute. We need to be fair. Let us not bring confusion to any other existing laws. We know the Companies Act and the Capital Markets Authority Act guide us on the issue of directors. I also know that there exists a Non-Governmental Institute of Directors in Kenya. It was established in the year 2004. It provides knowledge and also supports in networking. It also gives mentorship to both prospective and acting directors. We also have very key leaders such as Dr. Peter Muthoka who was appointed as the Chancellor of Masinde Muliro University of Science and Technology in the year 2017. We could have a policy. I think that would be a bit better – a policy to guide on what lacks in existing Acts. We can have a bit of time to debate this matter, if Members will agree, so that we do not come up with a conflicting Bill. It is possible to come up with a law that may bring about a scenario where members of the public take us to court. I know the Hon. Member, Chris, is an outgoing person. He is very vigorous. So, we support whatever he has brought forth although we are saying that we should take a bit of time to scrutinise it properly. We should not go against existing laws. We should not also kill the morale of small companies that are started by people who have not gone to class yet we know their companies are doing very well. If we go that way, I think we shall be assisting him. We can see he is out to make sure we do more to help in terms of the management of directors in our companies. Thank you."
}