{"count":1608389,"next":"http://info.mzalendo.com/api/v0.1/hansard/entries/?format=json&page=148513","previous":"http://info.mzalendo.com/api/v0.1/hansard/entries/?format=json&page=148511","results":[{"id":1503312,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503312/?format=json","text_counter":552,"type":"scene","speaker_name":"","speaker_title":"","speaker":null,"content":"(Putting of the Question deferred)"},{"id":1503313,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503313/?format=json","text_counter":553,"type":"speech","speaker_name":"Hon. Peter Kaluma","speaker_title":"The Temporary Speaker","speaker":{"id":1565,"legal_name":"George Peter Opondo Kaluma","slug":"george-peter-opondo-kaluma"},"content":"Next Order."},{"id":1503314,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503314/?format=json","text_counter":554,"type":"scene","speaker_name":"","speaker_title":"","speaker":null,"content":"Second Reading"},{"id":1503315,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503315/?format=json","text_counter":555,"type":"speech","speaker_name":"Hon. Peter Kaluma","speaker_title":"The Temporary Speaker","speaker":{"id":1565,"legal_name":"George Peter Opondo Kaluma","slug":"george-peter-opondo-kaluma"},"content":"THE UNCLAIMED FINANCIAL ASSETS (AMENDMENT) BILL (National Assembly Bill No.15 of 2024)"},{"id":1503316,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503316/?format=json","text_counter":556,"type":"speech","speaker_name":"Kikuyu, UDA","speaker_title":"Hon. Kimani Ichung’wah","speaker":null,"content":" Hon. Temporary Speaker, I beg to move that the Unclaimed Financial Assets (Amendment) Bill (National Assembly Bill No.15 of 2024) be now read a Second Time. Hon. Temporary Speaker, this is a very short Bill with only about four clauses. In principle, there are just about three clauses which are amending Sections 8, 28 and 45 of the Act. The principal objective of the Bill is to allow a claimant of an unclaimed financial asset the opportunity to designate a third party to pursue a claim that is being held by the Unclaimed Financial Assets Authority. After its establishment, the Unclaimed Financial Assets Authority was charged with the responsibility of putting together all unclaimed financial assets, including M-Pesa balances left on the phones of deceased persons, and money left in bank accounts. It is not in the interest of either the authority or the financial institutions, including insurance companies that are holding policies for deceased persons, to keep those assets. At times, the designated claimant is probably not even in town or in a position to pursue that unclaimed financial asset. For instance, the designated claimant may be a parent of the deceased person and lives far off in the rural areas, but has a son who is a lawyer in the city. That son in the city cannot even pursue that claim on behalf of the parent because he is not designated to do so. Hence, we want to open it up in such a way that the parent, who is the designated claimant, can designate the son who is a lawyer to pursue that unclaimed asset. It is never in the interest of the institutions that hold those unclaimed financial assets to keep those assets, neither is it in the interest of the Unclaimed Financial Assets Authority to refuse to pay out those claims to claimants. Every other institution, especially those in the financial sector, is keen on holding financial assets. You can imagine the case of an insurance company that is supposed to pay out a policy worth tens of millions, but they know the claimant is not in a position to claim. They will never disclose that information to either the Unclaimed Financial Assets Authority (UFAA) or any other designated person who would be claiming that amount. Concurrently, the UFAA knows that part of their income comes from the interest generated from the money they invest. And this money, of course, does not belong to them. It belongs to the claimants, the people who have left this money behind. Therefore, it is not in their interest to go out looking for people. I know some argue that UFAA has had a campaign"},{"id":1503317,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503317/?format=json","text_counter":557,"type":"speech","speaker_name":"Kikuyu, UDA","speaker_title":"Hon. Kimani Ichung’wah","speaker":null,"content":"The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."},{"id":1503318,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503318/?format=json","text_counter":558,"type":"speech","speaker_name":"Kikuyu, UDA","speaker_title":"Hon. Kimani Ichung’wah","speaker":null,"content":"on national television telling people that they can now claim their unclaimed financial assets. If you look at those media adverts, that is all there is. There is never a deliberate effort to get claimants to claim their unclaimed financial assets. This Bill is opening this up and allowing claimants to designate a third person to pursue the claim on their behalf, such as lawyers, accountants, or the children of elderly parents who are claimants to UFAA. They can now designate their children in cities or urban areas who can pursue these claims. And basically, that is what this Bill is doing. Whether you look at Sections 28 or 45, it is just inserting the words ‘or such other person as a claimant may designate.’ There is no opportunity for anybody to come from the blues and claim an unclaimed financial asset that does not belong to them or they have no claim to, because the Act is being amended to say, ‘as a claimant may designate.’ If I am the claimant to my late brother's unclaimed financial assets and I am not in a position to pursue that claim, I can designate my good friend Dr Oundo or my daughter Mumbi to follow it on my behalf. Therefore, this being a very small Bill, I urge us to support it. I beg to move and request Hon. Timothy to second."},{"id":1503319,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503319/?format=json","text_counter":559,"type":"speech","speaker_name":"Hon. Peter Kaluma","speaker_title":"The Temporary Speaker","speaker":{"id":1565,"legal_name":"George Peter Opondo Kaluma","slug":"george-peter-opondo-kaluma"},"content":" Hon. Timothy Toroitich."},{"id":1503320,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503320/?format=json","text_counter":560,"type":"speech","speaker_name":"Marakwet West, Independent","speaker_title":"Hon. Timothy Kipchumba","speaker":null,"content":" Thank you, Hon. Temporary Speaker. I rise to second the Unclaimed Financial Assets (Amendment) Bill. If you look at the law as it is and the interpretation of the courts, you will note that they have given it a very strict interpretation. This has necessitated this particular amendment. Designation means it can be either through testate or intestate succession, through a will or succession generally before our courts. So, when someone has designated a certain unclaimed property, and it is subjected to a court of law, the court, under succession law, may allow the person to claim that particular asset. For me, it is a progressive legislation, but should only be limited to lawful designations and nominations, whether through a will in cases of a testate succession, or where there is no will in intestate succession, and the courts lawfully designate a person to claim under this particular piece of legislation. Hon. Temporary Speaker, I rise to second."},{"id":1503321,"url":"http://info.mzalendo.com/api/v0.1/hansard/entries/1503321/?format=json","text_counter":561,"type":"scene","speaker_name":"","speaker_title":"","speaker":null,"content":"(Question proposed)"}]}