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{
"id": 951799,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/951799/?format=api",
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"type": "speech",
"speaker_name": "Hon. Deputy Speaker",
"speaker_title": "",
"speaker": null,
"content": "Therefore, the proposal to amend Clause (18)(a) of the Bill shall not be considered by the Committee of the whole House. The Member is also at liberty to introduce a separate Bill on the matter in the manner contemplated in Standing Order 114, whereby the proposal would go through among other processes, public participation. (iv) The Member for Gatundu South, Hon. Moses Kuria, has proposed to insert a New Clause 8A immediately after Clause 8 of the Bill relating to the Income Tax Act to provide for the manner of investing deposits in a registered home ownership investment plan and the definition of ‘approved institution’. He intimates that the Home Ownership Saving Plan (HOSP) guidelines only recognize investment guidelines as per the Central Bank of Kenya (CBK) specifications. Therefore, he seeks to include investment guidelines provided by the Capital Markets Authority, in addition to the prudential guidelines issued by CBK to regulate investment of deposits under a registered HOSP so that the investor has a choice to either save through a bank or an investment savings product."
}