Benjamin Kipkirui Langat

All parliamentary appearances

Entries 2111 to 2120 of 2560.

• 17 Oct 2013 in National Assembly: 3A. The Insurance Act is amended - (i) in section 7 by deleting the words “ten thousand shillings” and substituting therefor the words “two hundred thousand shillings” (ii) by inserting the following subsection (8) immediately after subsection (7)- (8) For avoidance of doubt, where the Authority, the Commissioner or other authorised persons require an insurer or a licensed person to provide information under this Act- (i) the Authority, the Commissioner or such authorised persons shall declare to the insurer or a licensed person, the intended purpose of sharing of the information and the persons or institutions intended to receive the ... view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, for the purpose of bringing the House up to speed, this amendment seeks to achieve--- The amendment to Section 7 is about the penalties for not complying with information requirement by the Authority. The Act, as it is today, says that if you do not give information to the Authority, or if you give false information or commit any other malpractice you will be fined a maximum of Kshs10,000. I think times have changed and the entities we are dealing with are huge insurance companies and Kshs10,000 may really encourage them to continue not giving information. ... view
• 17 Oct 2013 in National Assembly: I said Kshs200,000 as per the Order Paper. view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, unless there are two Order Papers--- Maybe you are reading Ichung’wah’s, I do not know. Mine has Kshs200,000. For the record, it is Kshs200,000. The other bit of the amendment is part (ii). From the sector, we are simply saying that where there is a request for information from any licensed insurance practitioner, it should be given, but the Commissioner should also say why one, he is demanding the 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. view
• 17 Oct 2013 in National Assembly: information and two, if it will be shared with third parties. He should declare which third parties are those. Insurance is a business. It came to our Committee that some people within the Authority itself might have abused that to get information from one insurance company and leak it to competitors. It is the business of the insurance sector. That is what that amendment seeks to achieve. We are also saying that, that information should be required from the Board, so that whatever information is given, the Board of the insurance company should be aware to avoid a situation where ... view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, in principle, I agree with my good friend. He has done his homework quite well. However, the power of the Regulator to vet auditors is important. If you do not want to be audited, you just collude with some auditor who will give you a favourable report, depending on how much you pay him. With due respect to my professional colleague, while I support the proposal, I would like to request him to tell us what additional precautions he has put in place, so that we can make it more strict for any auditor who misreports ... view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, I want to request my friend that we further amend it to Kshs1 milllion, so that it becomes deterrent, now that we have removed the condition which was there for the reasons he has advanced. I will also want him to indulge me and have this as Kshs1 million, so that any auditor who does not comply should pay up to Kshs1 million. view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, I beg to move that we replace the words “two hundred thousand” after the word “exceeding” with the words “one million” so that it reads “not exceeding one million shillings”. view
• 17 Oct 2013 in National Assembly: Hon. Temporary Deputy Chairlady, I beg to move:- 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. view
• 17 Oct 2013 in National Assembly: THAT, the following new Clause 15A be inserted immediately after Clause 15 of the Bill- view