27 Jul 2016 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move:- THAT, Clause 3 be amended in the proposed new Section 33(b) by deleting subsection 3 and substituting thereof the following new subsection 3– “A bank or a financial institution which contravenes the provisions of subsection 2 commits an offence and shall on conviction be liable to a fine of not less than Kshs1 million or in default the Chief Executive Officer (CEO) of the bank or financial institution shall be liable to imprisonment for a term of not less than one year.”
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27 Jul 2016 in National Assembly:
This is a small correction which has been associated with the fact that we cannot imprison a bank. If a banking institution contravenes the law, it can be fined, but in case an imprisonment needs to be done, then it is the CEO who can suffer the imprisonment or pay the fine. This will avoid a situation where the law is not clear on who is supposed to suffer the consequences.
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27 Jul 2016 in National Assembly:
Hon. Temporary Deputy Chairman, I beg to move that the Committee doth report to the House its consideration of the Banking (Amendment) Bill (National Assembly Bill No.62 of 2015) and its approval thereof with amendments.
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27 Jul 2016 in National Assembly:
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.
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27 Jul 2016 in National Assembly:
Hon. Temporary Deputy Speaker, I beg to move that the House doth agree with the Committee in the said Report. I also request Hon. Wamunyinyi to second the Motion for agreement with the Report of the Committee of the whole House.
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27 Jul 2016 in National Assembly:
Hon. Temporary Deputy Speaker, I beg to move that the Banking (Amendment) Bill (National Assembly Bill No.62 of 2015) be now read the Third Time. I also request Hon. Wamunyinyi to second.
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27 Jul 2016 in National Assembly:
On a point of order, Hon. Temporary Deputy Speaker.
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27 Jul 2016 in National Assembly:
Hon. Temporary Deputy Speaker, I was expecting to be given a chance to thank Members for supporting the Banking Amendment Act. I am, therefore, begging for your magnanimity to allow me to thank Members for supporting the Bill. 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.
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27 Jul 2016 in National Assembly:
I did not get a chance to thank them. I just wanted to get a chance to thank them.
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27 Jul 2016 in National Assembly:
I hope my appreciation has been acknowledged.
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