22 Nov 2018 in National Assembly:
The justification for this is the amendment seeks to provide for the central registry of warehouse receipts to be linked to a central depository of a commodities exchange licensed by the Capital Markets Authority for purpose of facilitating trade in the capital markets.
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22 Nov 2018 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move:
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22 Nov 2018 in National Assembly:
THAT, Clause 31 of the Bill be amended in—
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22 Nov 2018 in National Assembly:
(a) sub-clause (2), by deleting the words “issue a warehouse receipt” and substitute thereof with the words, “ issue a warehouse replacement receipt”;
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22 Nov 2018 in National Assembly:
(b) sub-clause (3) by deleting the word “ duplicate” and substituting thereof with the word “replacement”; and
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22 Nov 2018 in National Assembly:
(c) sub-clause (4), by deleting the word “deals” immediately after the word “person” and substituting therefor the word “who”.
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22 Nov 2018 in National Assembly:
The rationale is that we are seeking for more clarity on what shall be issued when a warehouse receipt is lost, stolen or destroyed. It is a replacement receipt and not a duplicate receipt because a duplicate receipt can be forged.
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22 Nov 2018 in National Assembly:
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.
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22 Nov 2018 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move:
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22 Nov 2018 in National Assembly:
THAT, Clause 32 of the Bill be amended by deleting the word “duplicate” and substituting with the word, “replacement”. The reason is that the amendment is consequential to amendments proposed in Clause 32. It clarifies that the replacement receipt shall have similar standing as the original receipt.
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