Tom Joseph Kajwang'

All parliamentary appearances

Entries 3631 to 3640 of 10308.

• 28 Jul 2015 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. view
• 9 Jul 2015 in National Assembly: Hon. Temporary Deputy Speaker, I thank my colleague Hon. (Eng.) Gumbo for choosing me to second his Motion. It is true that the Standing Orders would have expected Hon. (Eng.) Gumbo to have brought his Procedural Motion before we began the Bill appearing as Order No.11. However, allow me to remind the House that we had the Order Paper when we came this morning in which we had the item listed as Order No.10. Most of us did not know that Order No.10 will “collapse” because the Chairperson of the Committee had urged us to skip it because of the ... view
• 9 Jul 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker, for giving me an opportunity to contribute to the Companies Bill, 2015. I am a Member of the Committee that has burnt the midnight oil to come up with the revised Bill before the House. You remember that the first Bill that was before us was twice the volume of this. We had to sit down and scrutinize clause by clause to understand the policies that were guiding the legislative proposals. After about three months, we have crashed the over 2,000 pages into a mere 1,600 or so pages. I want to congratulate my ... view
• 9 Jul 2015 in National Assembly: In this Bill, we are proposing that any Wanjiru, Wanjiku or Adhiambo can simply go to the Registrar, get prepared forms, fill them, deposit them with the Registrar and she will have a business vehicle that she can use for trade. This is wananchi -friendly. This is a simple person’s Bill. You do not have to have a lot of wealth or to have complicated business systems to have a running company. That way, therefore, we are able to widen the tax bracket. This is because the small business people are able to effectively participate in business, that data is ... view
• 9 Jul 2015 in National Assembly: Hon. Temporary Deputy Speaker, over the page, Parts VI and V, deal with the powers of the registrar while Part VI talks about alteration of the status of companies; that is flexibility of conversion. This is a new principle; that there is a principle on conversion of companies. You can have a private company which can then turn into a public company. You can also have public company turning into a private company. When you have privatisation, for example, it becomes very swift to change a private limited company into unlimited company. An example is the NGOs and charitable organisations ... view
• 9 Jul 2015 in National Assembly: One of the features you see here is also a challenge to our legislative practice. We have never had a Bill in which we have divisions. It really took us time. In the Commonwealth practice, we do not have divisions in legislation, but we had to separate the sub-themes and sub-topics. Now, you can see that we have parts which have divisions. This is for the sake of clarity and thematic approach in the understanding of company law. view
• 9 Jul 2015 in National Assembly: In Part VI on company members, there is prohibition on subsidiary companies being members of the holding company. This is very important. Before, fraudulent people, and this was a source of corruption, would hide their companies in companies. You would find a holding 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
• 9 Jul 2015 in National Assembly: company then you find several subsidiary companies which are directors of that other company, for example, Goldenberg. If you traced Goldenberg, you could not find any physical person. For the first time, we have outlawed the fact that you can have subsidiaries within subsidiaries so that we do not hide directors. We want to unmask directors. Of course, we have put provisions here to the effect that there is some immunity on directors, but then we have to know who these people are so that they do not hide under that to escape scrutiny. That is what you find on ... view
• 9 Jul 2015 in National Assembly: You can see that we now have piercing the veil. This is a principle which for a long time frustrated land buying companies. Somebody would fraudulently take your land, you know him as a person but you cannot reach him because you have to sue the directors first and then get fresh proceedings against the person. We have said that now you cannot hide under that principle of the veil of directors. view
• 9 Jul 2015 in National Assembly: The other outstanding feature you see in this Bill is that it has created a practice called “bankruptcy practioners”. You remember the Laico or the Grand Regency story. So many people are being called bankruptcy liquidators working under the Office of the Registrar. We now want to codify that practice so that there are some people who must get some technical training and expertise, be registered as such and known to be bankruptcy practioners. Well, they will be professional undertakers of companies of sorts, but we will now have specific people on whom responsibility has been imposed by law. Therefore, ... view