Samuel Kiprono Chepkonga

All parliamentary appearances

Entries 2311 to 2320 of 3315.

• 22 Oct 2014 in National Assembly: The proposed Insolvency Bill seeks also to achieve a fair balance between restructuring and liquidation. It will allow distressed enterprises to explore possibilities of an easy and efficient revival. If revival is not the solution, it will also be easy for a company to be liquidated to maximize on returns for the stakeholders. It seeks to salvage viable businesses and preserve jobs, while enabling financing institutions to prevent deterioration of assets by giving them a means to enforce claims. The reform proposed in this Bill is a regulatory framework that will be effective for those for whom the insolvency law ... view
• 22 Oct 2014 in National Assembly: The Bill further provides for a simplified process known as the “no-asset procedure”, as mentioned by the Leader of Majority while moving the Bill. Individuals who have no assets can go through a simplified bankruptcy process, and be given a fresh start in life instead of the very complex process where you are held to ransom by the official receiver. The Bill further proposes the strengthening of the office of the official receiver to make the office capable and efficient in the performance of its functions under the proposed legislation. If successfully implemented, the proposed law requires a revamped office ... view
• 22 Oct 2014 in National Assembly: In Clauses 523 to 529, the Bill provides for the appointment of administrators otherwise than by the courts. There are instances in this proposed law, where instead of going through the very expensive process of filing cases in court and paying court fees, this law provides for a simplified process in which an administrator is appointed outside the court process. The law provides for the administrators’ qualifications, how they are appointed, their duties, and status. Clauses 603 to 615 are provisions on termination of appointment of administrators. In the past, it has been difficult to terminate those who have been ... view
• 22 Oct 2014 in National Assembly: offences against administrators who seek to falsify documents of the company in the process of liquidation, so that they hide the assets of the company. It also makes it an offence for an administrator to make false representation to creditors of a company that is under liquidation. With those remarks, and being cognizant of the time of the House, I would like to end there. I beg to second. view
• 22 Oct 2014 in National Assembly: Hon. Temporary Deputy Speaker, as a Member of the Committee, I respect the fact that you are sitting in as the Speaker now. We had a retreat on these two Bills, that is the Insolvency Bill and the Companies Bill. We had an overview of the general provisions. Of course, you know that the two Bills are still work- in-progress in the Committee. We hope to complete this Bill, maybe, in the next one-and- a-half weeks, so that we can file our report. At the moment, it is still work-in-progress. view
• 22 Oct 2014 in National Assembly: Hon. Temporary Deputy Speaker, I take cognizance of the fact. Of course, the Standing Orders are clear that our Committee is expected to have filed a report before the Second Reading. Unfortunately, we are not in a position to do so. The only thing I have are the notes that I made for purposes of seconding this Bill. I can make this available to Members. They provide a general overview of the rationale and objectives of this Bill. view
• 22 Oct 2014 in National Assembly: I know. view
• 22 Oct 2014 in National Assembly: Maybe upon your guidelines, if you allow me, I would like to point out that at the back of the Bill, at page 1034, there is a Memorandum of Objects and Reasons for this Bill. Perhaps, Members could look at that in addition to the notes that I have. Since these are not in the House, you can, possibly, allow us an adjournment, so that we begin early on the Motion for Adjournment. view
• 22 Oct 2014 in National Assembly: Yes, hon. Temporary Deputy Speaker. view
• 22 Oct 2014 in National Assembly: Hon. Temporary Deputy Speaker, I totally concur with you with regard to the interpretation of Standing Order No.127(5). Of course, as you know we are supposed to have presented this report. This matter has been pending before our Committee for some time but for other reasons that were beyond our control, for instance, we share clerks with the Committee on Delegated Legislation. It has become exceedingly difficult for us to have a full time meeting because we have to share time with the Committee on Delegated Legislation. Again, this has been a failure on the part of the Clerk’s Office ... view