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{
    "id": 981962,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/981962/?format=api",
    "text_counter": 363,
    "type": "speech",
    "speaker_name": "Sen. Murkomen",
    "speaker_title": "The Senate Majority Leader",
    "speaker": {
        "id": 440,
        "legal_name": "Onesimus Kipchumba Murkomen",
        "slug": "kipchumba-murkomen"
    },
    "content": "Before I come to the reasons for the second amendment which is related to the question of reporting to the credit bureau, Clause 3 of this amendment Bill amends Section 48 of the existing Act, so that it can provide for the determination of and suitability of a person seeking to serve in a deposit-taking SACCO. It means that the Authority will now not oversight just the SACCO itself. It will also oversight the people who are going to serve. These people must be vetted by the SASRA. It will determine whether those people are licensed and qualified to serve as the director, Chief Executive Officer (CEO) or as an officer of a SACCO society. Mr. Deputy Speaker, Sir, in doing that vetting, the amendments provided here gives guidelines to the SASRA to look at certain things. This is the financial status or solvency of a person. That means such person must do some level of wealth declaration so that we know if he is capable of coming to preside over or he is a person who is insolvent. Second is to look at the academic qualifications in relation to the functions they are going to perform in the SACCO itself. Three, is the status of any other licence or The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}