Augostinho Neto Oyugi

All parliamentary appearances

Entries 481 to 490 of 895.

• 19 Aug 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. First I congratulate the House Business Committee for sequencing those Bills in this manner. We have sufficiently dealt with the Companies Bill, the Insolvency Bill and now coming closely is the Business Registration Service Bill. That was good sequencing. The objects of this Bill are very profound. The Bill speaks to the administration of the laws relating to incorporation, registration, operation and management of companies, partnerships and for other connected purposes. The Bill has very good provisions. One such example is Clause 3(3) which says the headquarters of the Service will be in the ... view
• 19 Aug 2015 in National Assembly: disseminating research findings in the fields covered by the relevant laws. However, if the purpose of the Service is to incorporate and register companies and their management, I do not understand what level of research we will be engaging in. Whereas it is good to talk about research, I do not understand how that component fits within the general provisions of what the Service is going to do. Another interesting provision is Clause 5(f) which speaks to four other members being part of the Board. It is very dangerous to have this provision because the only qualification of the four ... view
• 19 Aug 2015 in National Assembly: appointment in a process that is sufficiently transparent, but it also ought to take into account other considerations like marginalized communities, the one-third gender rule provisions and women issues. Such qualifications will make this legislation have the face of Kenya. Clause 19 is very dangerous. It says that the Registrar-General may be removed from office by the Board. When it comes to the registration of businesses, especially if you see the composition of this Board, which has several co-opted members whose qualification is only knowledge in issues of business, to have the Registrar-General who is the engine of the Service ... view
• 28 Jul 2015 in National Assembly: Thank you, Hon. Speaker. I will try to speak slightly over five minutes given the fact that like all loving Kenyans, I engaged in the cheering of Air Force One and I have consequently lost my voice. view
• 28 Jul 2015 in National Assembly: As I was speaking to this particular Bill, I said when I started that it makes radical shift on how company law in Kenya is going to be managed. Several clauses of this Bill especially Clause 128 gives provisions to the fact that directors of companies can only be natural persons. Clause 134 of the Bill makes sure that acts of directors are going to be binding on them even though the directors are disqualified to be in office. That is an interesting provision because ordinarily directors in the previous regime ought not to be binding to the company if ... view
• 28 Jul 2015 in National Assembly: Hon. Temporary Deputy Speaker, Clause 134 makes sure that the acts of the director are binding but then there looks like an interesting rider in Clause 225 which presupposes the fact that if at all a director makes any act which prejudices the company, the said director is going to be surcharged to the extent of the mistakes or the decisions he made or took whereas he was so disqualified. view
• 28 Jul 2015 in National Assembly: Clause 135 of the Bill also makes it very interesting; the fact that directors are not going to be all-towering on the various companies; that all the things that directors do willbe subject to scrutiny by various members of the company. The most interesting clause in this particular Bill is Clause 404, which provides for the alteration and consolidation of share capital. By special resolution dissolution of the members of the company, you are able to consolidate the share capital. But this particular consolidation is subject to the agreement by the creditors. However, the Bill provides that the courts can ... view
• 28 Jul 2015 in National Assembly: Clause 496 talks about allocation of share certificates. In the current regime, before this Bill is passed, it is not clear how share certificates are allocated. But this Bill proposes that within two months of a company giving registrations, there should be a share certificate allocation within two months and proof of a share certificate. A share certificate will be proof enough that, at least, you own shares in that particular company. There is a proposal to create transparency in companies where companies have been given powers and the members of the public can require the members of the company ... view
• 28 Jul 2015 in National Assembly: One of the most important clauses in this Bill is Clause 781, which gives the members of the companies power to apply to court if they think, for example, that the directors are being oppressive or if the company is being run in a manner that is being prejudicial to the reasons for which the company was created. This particular provision under Clause 781 presupposes that you are not going to let your company go under, be misused or let the directors be oppressive. You already have powers in hand well in advance for the courts to give you direction ... view
• 28 Jul 2015 in National Assembly: Hon. Temporary Deputy Speaker, taking away the microphone interfered with my thought process. With that, I would like to support. Thank you. view