Martha Karua

All parliamentary appearances

Entries 1051 to 1060 of 2953.

• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, I rise to support the Bill. This Bill is timely, or shall I say it has taken long to come? But it is better late than never. It is something we need and I want to again reiterate that receivership in this country has become a goldmine to unscrupulous receiver managers, where instead of gathering the assets so that the liabilities are paid, they accumulate wealth for themselves. This is a view
• 14 Jun 2011 in National Assembly: non-regulated field where the fees charged by the receiver managers is not specified. I think now that the Bill is before the House, it is up to us, as the House, to make improvements on this Bill. One of the improvements I would like to see is an annual renewable licence for insolvency practitioners, where at the end of each year, an insolvency practitioner will list the matters under their care and give reports on those matters so as to convince the board that is granting the licenses that they are fit and proper to continue with the work of ... view
• 14 Jun 2011 in National Assembly: I would also like to see fees such as the advocates’ remuneration order because this is a contentious area. Let us have guidelines for the fees charged by the receiver managers, or the insolvency practitioners. Since we are coming from a background where the insolvency managers, otherwise known as receivers and liquidators--- I have also been part of the problem and part of the reason for insolvency--- It is good that we regulate the fees that they charge on that basis we will have a way of measuring the transparency and accountability of the receiver manages where the fees are ... view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, the other area is aligning the offences because once we give the insolvency manager some privileges and powers, we must also give them responsibility and that responsibility would be to manage the property to the best of their ability. If they knowingly mismanage the property, the offences should be more than is being provided. That is more than the general offence. We should specify the types of offences and here I would say that we do not need to reinvent the wheel. At the Committee Stage, we should be able to look at the various jurisdictions ... view
• 14 Jun 2011 in National Assembly: Madam Tempraory Deputy Speaker, on individuals, there are people who may opt to file for bankruptcy to avoid paying debts. We should also tighten that area, so that if, after going through bankruptcy proceedings, anyone found to not have been truthful about what they own, action is taken and those who would otherwise have benefitted should have recourse. We ought to critically look at the provisions. I have looked at the Memorandum of Objects and Reasons and the question we must answer at the Committee Stage is whether the Bill, in its current form, will help us to maximize the ... view
• 14 Jun 2011 in National Assembly: We know that we rarely go behind the veil and, therefore, there are individuals who have specialized in making sure that they flee with public money by donning the veil of corporate bodies. We need to look at whether the provisions in this particular Insolvency Bill, together with those in the Companies Bill that was recently debated here, view
• 14 Jun 2011 in National Assembly: will complement each other to make sure that people do not deliberately commit actions that end up assisting them to disappear with public money. Madam Temporary Deputy Speaker, as I said before, we need to ensure that the Insolvency Practitioners Board is able to regularly renew the licenses of insolvency practitioners and also is able to monitor their faithfulness to the profession they have chosen. view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, Sir, all in all, I would say we look at the Bill critically to see whether it answers what it sets out to do, to even go beyond that and provide for whatever we feel as House is not provided for. I have indicated that one of the areas to check is transparency and accountability of insolvency practitioners and, indeed, of receiver managers. We know that in many instances, where receiver managers take over estates, they literally become owners of those estates. There has been very little accountability in this area. It depends on the goodwill ... view
• 14 Jun 2011 in National Assembly: Madam Temporary Deputy Speaker, with those remarks, I beg to support. It is up to us, as the House, to improve on this Bill, and pass it without further delay. view
• 9 Jun 2011 in National Assembly: Mr. Deputy Speaker, Sir, that is a strange Statement coming from the Assistant Minister. Investigations have not led to the arrest of anyone yet he is convinced that there are investigations which can show that this is an “ordinary crime” as he says and not an act of political thuggery. What type of investigations are those because we know that during the dark KANU days, this is how the system intimidated activists? It is not only the KARA residence that has been broken into; you will recall the burglary and injury to my supporter about two months ago. What sort ... view