19 Aug 2015 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:-
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19 Aug 2015 in National Assembly:
THAT, Clause 566 of the Bill be amended in Sub-clause (3)(b) by deleting the words “Part XXXIV of the Companies Act, 2015 (which deals with company arrangements and reconstructions)” appearing immediately after the word “under” and substituting therefor the words “the Companies Act, 2015”. Again, we are seeking to remove the specific references of the parts that were contained in the Companies Bill that was amended in the Third Reading. So, this is just purely realignment again.
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19 Aug 2015 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 590 of the Bill be amended in Sub-clause (2)(b) by deleting the words “Part XXXIV of the Companies Act, 2015 (which deals with company arrangements and reconstructions)” appearing immediately after the word “under” and substituting therefor the words “the Companies Act, 2015”. Hon. Temporary Deputy Chairlady, we are seeking to remove specific references to parts of the Companies Bill that was passed yesterday.
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19 Aug 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.
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19 Aug 2015 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 591 of the Bill be amended in Sub-clause 6(b) by deleting the words “Part XXXIV of the Companies Act, 2015 (which deals with company arrangements and reconstructions)” appearing immediately after the word “under” and substituting therefor the words “the Companies Act, 2015”. Hon. Temporary Deputy Chairperson, this is to remove the reference of the specific part of the Companies Bill that was passed yesterday.
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19 Aug 2015 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 634 of the Bill be amended- (a) in Sub-clause (3) by deleting the words “Part XXX of” appearing immediately after the word “under”. (b) in sub-clause (4) by deleting the words “Part XXX of” appearing immediately after the word “under”. Hon. Temporary Deputy Chairperson, we are seeking to delete the parts that are making reference to the Companies Bill that was passed yesterday because it is inconsistent with the Insolvency Bill.
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19 Aug 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.
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19 Aug 2015 in National Assembly:
Hon. Temporary Deputy Chairlady, I beg to move:- THAT, Clause 729 of the Bill be amended in Sub-clause (3) by deleting the words “Part XL of the Companies Act, 2015 applies” and substituting therefor the words “The provisions of the Companies Act, 2015 on the service of documents on and by companies apply”. Hon. Temporary Deputy Chairlady, we are seeking to remove the reference that has been made to the Companies Bill that was passed by this House. We made certain amendments and so we are realigning this Bill to the other Bill.
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19 Aug 2015 in National Assembly:
Thank you, Hon. Temporary Deputy Chairlady. I rise to support my good friend, Hon. Omondi. This is a very good provision. I must thank him. He is hawk-eyed in terms of seeing what was missing. I know he has gone through this experience and that is why he does not want anyone else to go through it. The import of this amendment is to ensure that the insolvency practitioners do not charge anything they want. This will give power to the Cabinet Secretary to ensure that he makes regulations to determine the remuneration that those insolvency practitioners are paid. We ...
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19 Aug 2015 in National Assembly:
Thank you, Hon. Temporary Deputy Chairlady. Since this is the last proposed amendment, I would like to respond to Hon. Makali Mulu who raised the issue as to the length that insolvency practitioners are supposed to take in terms of either resuscitating or winding up the company. As it stands in the current Bill, they are allowed to be there for one year. Then they must exit so that they do not depreciate the assets of the company that is under receivership. There are very cogent provisions in this Bill that deal with that issue. Hon. Temporary Deputy Chairlady, I ...
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