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{
    "id": 974777,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/974777/?format=api",
    "text_counter": 274,
    "type": "speech",
    "speaker_name": "Baringo North, JP",
    "speaker_title": "Hon. William Cheptumo",
    "speaker": {
        "id": 50,
        "legal_name": "William Cheptumo Kipkiror",
        "slug": "william-kipkiror"
    },
    "content": " Thank you, Hon. Temporary Deputy Speaker. I rise to support this Bill. It is important for us to know that prior to 2015, before the amendment of the Companies Act, it was difficult to do business in this country. The process of registering companies would take as long as a month or even beyond. However, when we did the overhaul of the Companies Act in 2015, we made it possible for Kenyans to do business in our country and therefore, creating a very conducive business environment in our country. This has also facilitated investors in our country to do business in our country more efficiently compared to the years before 2015. Therefore, this proposed law is supposed to strengthen and create a better environment for doing business in our country. It is important that as Members of this House we indeed, support the Business Laws (Amendment) Bill. I want to refer to two specific areas which were handled by my Committee, that is the Companies Act No.17 of 2015. The Bill proposes to amend Sections 35, 37, 38, 42, 43 and 495 of the Companies Act, 2015 to entirely eliminate the use of company seals as a means of executing and authenticating company documents. Currently, if you have a company and you want to execute a document, either transferring, buying or acquiring interest in land or whatever kind of interest, a company seal is fixed on the document and witnessed by two directors. This proposed amendment intends to entirely eliminate the use of company seals. This proposed amendment has been supported by a number of stakeholders who appeared before our 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."
}