11 Mar 2020 in National Assembly:
Hon. Temporary Deputy Chairlady, I thought that before we move to Clause 9, there is another amendment. Clause 8 has (b) on re-numbering the existing subparagraphs. We should re-number them as (v) as (vi) because we have introduced another qualification.
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11 Mar 2020 in National Assembly:
There is Clause 8 (b), which is to renumber the existing sub-paragraph (v) as (vi). 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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11 Mar 2020 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move that Clause 9 of the Bill be amended by deleting Clause 9 and substituting therefor the following new clause− “9. The Chairperson and members of the Board shall hold office for a term of three years and shall be eligible for reappointment for one further and final term of three years.”
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11 Mar 2020 in National Assembly:
The Bill has provided that the chairperson and members of the board shall hold office for a term of six years. We propose that it be amended to three years and shall be eligible for reappointment. It is not good to provide for a continuous appointment of six years. That is to provide checks on performance. We can check if one has performed or not.
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11 Mar 2020 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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11 Mar 2020 in National Assembly:
As I stand to support the Leader of the Majority Party, I want to confirm that Kenya has been rated highly. It must be at the top in protection of minority shareholders. It was actually stated in the last conference where Kenya was one of the countries which were really seen to be serious in protection of minority shareholders. When you invest in quoted companies, the minority shareholders in most cases only have their say during annual general meetings. Therefore, by allowing them leeway to introduce a line, it is a very good amendment. I support it.
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11 Mar 2020 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move: THAT, Clause 10 of the Bill be amended by inserting the words “and approve” immediately after the word “consider” under paragraph (b).
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11 Mar 2020 in National Assembly:
This is for the purpose of introducing the word “approve” as part of the responsibilities of the Board as also indicated under Clause 25. The rationale for this is to allow the Board to include approval of projects as part of its functions.
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11 Mar 2020 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:
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11 Mar 2020 in National Assembly:
THAT, the Bill be amended in Clause 16 by deleting sub clause (2) and substituting therefor the following new sub clause− “(2) The Chief Executive Officer shall hold office for a term of three years and shall be eligible for re-appointment for one further and final term of three years.”
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