Debates of 04 July 2016

MR SPEAKER

PRAYERS

Speaker
Mr Speaker

Hon Members, you mayrecall that the Constitution (Amendment)Bill, 2016, was presented and read the Firsttime on Tuesday, 28th June, 2016 andreferred to the Council of State inaccordance with article 291(2) of theConstitution. Hon Members, I did not refer the Billto the appropriate Committee on that dayduring the First Reading, in view of thepending advice from the Council of State.I now wish to inform you that I havereceived the advice from the Council ofState. It is my duty now to refer the Bill,together with the advice from the Councilof State to the Committee onConstitutional, Legal and ParliamentaryAffairs. Hon Members, I accordingly refer theConstitution (Amendment) Bill, 2016,together with the advice from the Councilof State, to the Committee onConstitutional, Legal and ParliamentaryAffairs for consideration and report. Thank you very much. Votes and Proceedings and theOfficial Report

Speaker
Mr Speaker

Hon Members,Correction of Votes and Proceedings.

Speaker
Mr Speaker

Hon Members, we alsohave the Official Report of Wednesday,22nd June, 2016, for correction. Any correction?

Speaker
Alhaji Amadu Bukari Sorogho

MrSpeaker, in column 2125, under theChairman of the Committee; “AlhajiAmadu Sorogho”, there should be“Bukari” in the name. My name is “AlhajiAmadu Bukari Sorogho”.

Speaker
Mr Speaker

Hon Member, whereshould we put the “Bukari”?

Speaker
Alhaji Sorogho

Mr Speaker, it shouldbe in-between the “Amadu” and“Sorogho”. It can be initial “B” of which Iwould not have a problem. But it shouldbe part of the name.

Speaker
Mr Speaker

Any other correction? Hon Members, in the absence of anyfurther correction, the Official Report ofWednesday, 22nd June, 2016, as correctedis hereby be adopted as the true record ofproceedings. Hon Members, item number 4 --Presentation of Papers.

Speaker
Mr Alfred Kwame Agbesi

Mr Speaker,item number 4 (b) (i), (ii), (iii) and (iv) areready to be laid.

Speaker
Mr Speaker

Very well. Hon Members, item number 4 (b) —Presentation of Papers by the HonMinister for Finance.

Speaker
Mr Agbesi

Mr Speaker, I would wantto seek your permission and the indulgence of my Hon Colleagues for theHon Deputy Minister for Finance to laythe Paper on behalf of the Hon Ministerfor Finance.

Speaker
Mr Dominic B. A. Nitiwul

Mr Speaker,fair enough, but I just want to make anaside comment that the Hon DeputyMinister is always here and the HonMinister is never found. He should comefor some of these things. This is becausethese are regulations. So, where is theHon Minister?

Speaker
Mr Speaker

Hon Deputy MajorityLeader, they want to know where the HonMinister is?

Speaker
Mr Agbesi

Mr Speaker, the HonMinister is currently having a meeting,that is why he has sent his able deputy.

Speaker
Mr Nitiwul

Mr Speaker, what meetingis more important than this? Mr Speaker, we have never had aproblem with the Hon Deputy Minister,but is the Hon Minister having a meetingwhich is more important than Parliament— his own work -- That he cannot comeand bow and go for that meeting?

Speaker
Mr Agbesi

Mr Speaker, this is anemergency meeting which started evenbefore Parliament started Sitting; that iswhy his able deputy is here. It is not thathe does not want to come here. But hehas an emergency meeting at this crucialmoment.

Speaker
Mr Nitiwul

Mr Speaker, I believe thatthese things must stop. The Hon Ministermust inform the Leadership and MrSpeaker if he has an emergency meeting.We would have discussed it over thereso that we would not have the problemwe are having.

Speaker
Mr Agbesi

Mr Speaker, this is verystrange. The Hon Minister of State incharge of Finance is having an emergencymeeting which is in the interest of theState, including my Hon Colleague andso his deputy is here. Mr Speaker, the Hon Deputy Ministerhas been doing this all along anytime theHon Minister has such a situation.

Speaker
Mr Speaker

Hon Deputy MajorityLeader, you heard the Hon DeputyMinority Leader say that they do not havea problem with the Hon Deputy Ministerfor Finance representing his Minister. Buthis worry is the way you are canvassingthe point on the floor.

Speaker
Mr Agbesi

Mr Speaker, at my levelhere, I am not privileged to give the detailsof the meeting of the Minister, which is anemergency one —

Speaker
Mr Speaker

Hon Deputy MajorityLeader, you should have stated right fromthe beginning that he was engaged in animpromptu meeting. He had planned tocome but because of the emergency, hehas asked his deputy to hold the fort forhim. This is because that is what you aresaying.

Speaker
Mr Agbesi

Mr Speaker, yes. It is anemergency and he has delegated hisdeputy.

Speaker
Mr Speaker

Hon Deputy Minister forFinance, they do not have a problem withyou and so, item 4 (b), (i) — on behalf ofthe Hon Minister for Finance.

PAPERS

Speaker
Mr Agbesi

Mr Speaker, item number8.

Speaker
Mr Speaker

Very well. Hon Members, item number 8 on theOrder Paper. BILLS — THIRD READING The Ghana Deposit Protection Bill,2015 -- read the Third time and passed— [Deputy Minister for Finance (MrCassiel Ato Baah Forson) (on behalf ofthe Minister for Finance)].

Speaker
Mr Agbesi

Mr Speaker, item number14 on page 6 of the Order Paper —Securities Industry Bill, 2015 at theConsideration Stage. BILLS — CONSIDERATION STAGE Securities Industry Bill, 2015

Speaker
Mr Speaker

Hon First DeputySpeaker to take the Chair.

Speaker
Chairman of the Committee (Mr JamesKlutse Avedzi)

Mr Speaker, we can startwith clause 43.

Speaker
Mr Speaker

Very well. Hon Members, clause 43. Clause 43 — Power of Commission toapprove a securities exchange.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 43, subclause (1), line 1, delete“may” and insert “shall”.

Speaker
Mr Speaker, the new rendition shall be

“An application for approval as asecurities exchange shall be madeto the Commission in the prescribedform.” Mr Speaker, it is mandatory to make —

Speaker
Mr Speaker

Did you consult thedraftsperson?

Speaker
Mr Avedzi

Mr Speaker, we did. Theywere part of the committee meeting — [Pause.]

Speaker
Mr Speaker

Did she advise that theproper term be “shall” and not, “may”?

Speaker
Mr Avedzi

Mr Speaker, you shall, atall costs, make an application to theCommission to be granted approval as asecurities exchange and so, it isautomatic. It is mandatory that one appliesbefore being given approval — [Pause.]

Speaker
Dr Anthony A. Osei

Mr Speaker, Ibelieve the Hon Chairman is correct. The“shall” applies to the form that they mustfollow. They cannot leave that open sothat people apply in all kinds of ways.

Speaker
Mr Speaker, so, if we read it, it says,and with your permission, I beg to quote

“…shall be made to theCommission in the prescribed form”

Speaker
Mr Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 43, subclause (3), paragraph (b),sub-paragraph (ii), line 1, delete“disciplining” and insert “discipline”. Mr Speaker, this is just to correct thegrammar.

MR FIRST DEPUTY SPEAKER

Speaker
Mr First Deputy Speaker

Whichclause are you referring to? Is it clause 23or 30?

Speaker
Mr Avedzi

Mr Speaker, I am referringto clause 43 (vii).

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 43, subclause (3), paragraph (b),sub-paragraph (iv), lines 2 to 5, delete “including a term that the chiefexecutive officer is not liable todismissal or removal from officewithout the prior approval of theCommission”.

Speaker
Mr Speaker, the new rendition wouldread

“for the terms and conditions of thechief executive officer of the bodycorporate ...” that this is what should be submitted tothe Commission for approval. That theCommittee thinks that the Commissionapproving the terms that would include “that the Chief Executive Officer shall notbe liable to dismissal” is not appropriate. You can approve the terms andconditions of the CEO but cannot includethe term that he or she is not liable todismissal. You cannot ask that once theperson is appointed, he or she should notbe dismissed. So, we are deleting thatportion, but you can approve the termsand conditions of the Chief ExecutiveOfficer.

Speaker
Mr Nitiwul

Mr Speaker, but theframers are of the view that before youdismiss the Chief Executive Officer, itmust be with the prior approval of theCommission. How do you capture that intothe new rendition? [Pause] I am saying that if you look at how theBill came, it came with the view that if youwould want to dismiss the Chief ExecutiveOfficer, it must be done with the priorapproval of the Commission. This isbecause the appointing authority is thePresident. So, they do not want thePresident or any other person to justdismiss the Chief Executive Officerwithout prior approval of the Commission. I believe that is what they are lookingat. But we are now saying that they shouldtake that one out. So, once the terms aregiven and that is not included, theappointing authority can dismiss the CEOwithout the prior approval of theCommission -- finito. Is that what we wantto be done? I do not think so.

Speaker
Mr First Deputy Speaker

Yes, HonRanking Member?

Speaker
Dr A. A. Osei

Mr Speaker, the notionthat the appointing authority can onlydismiss with somebody's approval isobnoxious and that is why we are tellingthem that that is unacceptable. This isbecause he is the only one that appoints,

Speaker
Dr A. A. Osei

Speaker
Dr A. A. Osei

with reason or without reason. Then yousay before he dismisses, he would haveto give a reason? It is completelyconstraining the President and that is whywe are taking it out. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 43, add the following new sub-clause: “(4) The grant by the Commissionof approval as a securities exchangeshall be within three months fromthe date of application for approvalas securities exchange.” Mr Speaker, just to ensure that theCommission does not unduly delay theapproval of any application for securityexchange, the Commission shall withinthree months, do that or reject theapplication.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Dr A. A. Osei

Mr Speaker, back toclause 43, subclause 3 (iv).

Speaker
Mr Speaker, starting from (b)

“that the rules of the body corporatewill make satisfactory provision (iv)for the terms and conditions of thechief executive officer in the bodycorporate...” Mr Speaker, here, I think that we aretalking not about the CEO of theCommission but about the CEO of thebody corporate who is seeking the licence.So, I think that it may be fair in that case because that does not relate to thePresident, if you get what I am saying.The one we are dealing with does notrelate to the powers of the President at all.So, it is proper to keep that amendment-- clause 43, subclause 3 (iv) -- becauseit is a Commission that is approving thelicence and they must be informed. Mr Speaker, I think that earlier, wethought that it was related to the powersof the President and so, we should revisitthis and keep it. This is because we aretalking about the terms and conditions ofthe CEO of the body corporate and notthe Commission, which the President doesnot appoint. So, the Commission has theauthority to see to it that before theydismiss the CEO they are informedbecause that is how they licence them.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, how do yourespond to that?

Speaker
Mr Avedzi

Mr Speaker, I think that theissue is about a body corporate applyingto the Commission to be given approvalas a security exchange. Now, we are herelegislating that reading from clause 3: “the Commission may approve abody corporate as a securitiesexchange if the Commission issatisfied (b) that the rules of thebody corporate will makesatisfactory provision... (4) for the terms and conditions ofthe chief executive officer of thebody corporate, including a termthat the chief executive officer is notliable to dismissal...” Mr Speaker, here, it is not that whenyou want to dismiss the CEO, you seekapproval. You are submitting anapplication and you would want the bodycorporate to include in that application that these are the terms that the CEO isnot liable to dismissal. It is wrong.

Speaker
Mr First Deputy Speaker

No, there isa rider.

Speaker
Dr A. A. Osei

If we are going to giveyou a licence, before you fire somebody,let us know. This is because it is part ofthe basis for approving your application.So, we are in the process of looking at theapplication and then you suddenlydismiss the CEO it does not help us. Earlier, we thought that it was relatedto the powers of the President and thatwas why we put that clause there.

Speaker
Mr Avedzi

Mr Speaker, I do not thinkthat you say that it should not be duringthe period within which the approval isgranted, the CEO cannot be dismissed --that is not the issue. This is a completeissue -- this CEO can never be dismissedwithout the approval --

Speaker
Mr First Deputy Speaker

HonChairman, I do not think that it is a blanketsituation. He can be dismissed but thereis a rider there. So, it would have to go tothe Commission for its approval beforedismissal can take place. That is what heis driving at. But this one does not have to do withthe President's appointment. It has to dowith a body being made to play a certainrole and so, they think that the removalshould be with the prior approval of theCommission. Yes?

Speaker
Mr Nitiwul

Mr Speaker, it is just right.The argument was defeated because we did not want to tie the hands of thePresident because of the constitutionalclause. That was why I kept quiet at thattime. But this one, we can establish a bodycorporate to deal in securities under thisAct, if it meets certain conditions. Whenthey do the establishment and in tryingto appoint the Chief Executive, they mustbring the terms and conditions for him,and they have stated in it that he doesnot just appoint the Chief Executive, andafter giving the terms and conditions tothe Commission, then he dismisses himwithout the Commission knowing why hehas dismissed him. So, they should givethem their reasons and they approve ofthem before they dismiss the person. They have never stated that do notdismiss the person, but they are justsaying that, he can dismiss the personwith the prior approval of the Commission.Otherwise, people will just form it and thenfor some frivolous reasons, dismiss theChief Executive, bring another one anddismiss him, making the work of themCommission difficult. So, the Commissionwants to have power to regulate certainthings.

Speaker
Mr Avedzi

Mr Speaker, it is for the samereason that we are saying that, if I am theone who appoints the Chief ExecutiveOfficer, and I want to dismiss him, I wouldsimply apply to the Commission? What happens if the Commission saysno? [Interruption.] If the Commissionsays no, I cannot dismiss this ChiefExecutive Officer, what happens?

Speaker
Mr First Deputy Speaker

I believethat in all these cases, one must assignreasons for wanting to dismiss the ChiefExecutive, and those reasons must beacceptable to the Commission.

Speaker
Mr First Deputy Speaker

Speaker
Mr First Deputy Speaker

Hon Members, if it would take toomuch time, let us defer this, so that theCommittee can have a further look at it. Iwill not put the Question with regard toclause 43 as amended standing part of theBill. I will defer that, so that the Committeecan take a second look at it and thencome back. [Interruption.] Pardon me?

Speaker
Mr Nitiwul

Mr Speaker, I am sayingthat you are not putting the Question onclause 43. Is that right?

Speaker
Mr First Deputy Speaker

Yes.

Speaker
Mr Nitiwul

So, I am saying that in theend, you will not put the Question onclause 43, because we are deferringportions of clause 43.

Speaker
Mr First Deputy Speaker

I amdeferring the consideration of the portionthat has come up with this argument, sothat at the next Sitting, if they would haveconsidered everything, they would cometo us with something which would beacceptable.

Speaker
Mr Nitiwul

All right.

Speaker
Mr First Deputy Speaker

All right.Hon Chairman, do you agree with me?

Speaker
Mr Avedzi

Mr Speaker, I agree withyou that we defer it for further discussion.

Speaker
Mr First Deputy Speaker

Yes, thankyou very much. Hon Members, we then move on toclause 44. Clause 44 -- Approval by Commissionof amendments to rules.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 44, subclause (2), line 1, delete“may” and insert “shall, within threemonths”.

Speaker
Mr Speaker, the new rendition will be

“The Commission shall withinthree months give notice inwriting to the securities exchangeconcerned that it approves theamendment or that itdisapproves the whole or anyspecified part of theamendment…” Question put and amendment agreedto

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 44, subclause (4), before “post”insert “registered”.

Speaker
Mr Speaker, it would read

“…by registered post.” Question put and amendment agreedto Clause 44 as amended ordered to standpart of the Bill. Clauses 45, 46 and 47 ordered to standpart of the Bill. Clause 48 -- Directives to a securitiesexchange

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 48, subclause (1), paragraph (b),line 3, delete “purchases” and insert“trading”.

Speaker
Mr Speaker, it will read

“…including the manner ofreporting off-market trading”. And not “off-market purchases”. Mr Speaker, this is to correct the termsthat appropriately fit this particularrendition. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 48, subclause (2), line 3, delete “afine” and insert “an administrativepenalty” and in line 4, delete “fine” andinsert “administrative penalty” and furtherdelete “defaults” and insert “default”. Question put and amendment agreedto Clause 48 as amended ordered to standpart of the Bill. Clause 49 -- Prohibition of trading inparticular securities.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 49, subclause (4), line 3, delete “afine” and insert “an administrativepenalty” and in line 4, delete “fine” andinsert “administrative penalty” and furtherdelete “defaults” and insert “default”. Mr Speaker, this is consequential toclause 48.

Speaker
Mr First Deputy Speaker

It isconsequential. Question put and amendment agreedto. Clause 49 as amended ordered to standpart of the Bill. Clause 50 -- Recognition of a self-regulatory organisation.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 50, subclause (1), line 4, delete“security industry, if” and insert“securities industry, where”. Mr Speaker, this is just to correct therendition. Question put and amendment agreedto Clause 50 as amended ordered to standpart of the Bill. Clause 51 -- Rules of a self-regulatoryorganisation.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 51, subclause (3), line 3, delete“one month” and insert “three months”.

Speaker
Mr Speaker, this will read

“The Commission shall be deemedto have granted approval for thepurposes of subsection (1) where ithas not objected to the rules withinthree months after the rules havebeen submitted to the Commissionfor approval.” Mr Speaker, the Committee is of theview that the one month duration given istoo short. We propose a three-month duration. Question put and amendment agreedto. Clause 51 as amended ordered to standpart of the Bill. Clause 52 to 58 ordered to stand partof the Bill. Clause 59 -- Prohibition to operate unittrust without licence.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 59, subclause (3), line 2, delete “afine” and insert “an administrativepenalty”.

Speaker
Mr Avedzi

Mr Speaker, this is a consequentialamendment. Question put and amendment agreedto. Clause 59 as amended ordered to standpart of the Bill. Clause 60 to 62 ordered to stand partof the Bill. Clause 63 -- Licence to operate a unittrust.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 63, add the following new sub-clause: “(4) The Commission shall notrefuse to grant or renew a licencewithout first giving the applicant orthe holder of the license anopportunity of being heard.” Question put and amendment agreedto. Clause 63 as amended ordered to standpart of the Bill. Clause 64 -- Prohibition of activitiesin unlicensed unit trust.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 64, subclause (2), line 2, delete “afine” and insert “an administrativepenalty”. Mr Speaker, this is consequential. Question put and amendment agreedto. Clause 64 as amended ordered to standpart of the Bill. Clause 65 to 69 ordered to stand partof the Bill. Clause 70 -- Prohibited transactionsby manager.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 70, subclause (4), paragraph (a),line 1, delete “a fine” and insert “anadministrative penalty”. Mr Speaker, this is also consequential. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 70, subclause (4), paragraph (a),line 1, delete “a fine” and insert “anadministrative penalty”. Mr Speaker, it is consequential. Question put and amendment agreedto. Clause 70 as amended ordered to standpart of the Bill. Clause 71 -- Prohibition of operationof mutual fund without licence.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 71, subclause (2), line 2, delete “afine” and insert “an administrativepenalty”. Question put and amendment agreedto. Clause 71 as amended ordered to standpart of the Bill. Clauses 72 and 73 ordered to stand partof the Bill. Clause 74 -- Licence for operation ofmutual fund.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 74, subclause (1), paragraph (d),line 1, delete “country” and insert“Republic” Mr Speaker, the Committee is of theview that the appropriate rendition shouldbe “Republic”. “(d) the manager is a companyincorporated in the Republic…” Mr Speaker, but not “…in thecountry…” Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 74, subclause (2), line 1, delete“Board” and insert “Commission'' “The licence may be subject to otherconditions that the Commission mayspecify”. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 74, add the following new sub-clause: “(3) The Commission shall notrefuse to grant or renew a licencewithout first giving the applicant orthe holder of the licence anopportunity of being heard.” Mr Speaker, this is also consequentialto the earlier one. Question put and amendment agreedto. Clause 74 as amended ordered to standpart of the Bill. Clause 75 to 77 ordered to stand partof the Bill. Clause 78 -- Directions by directorsof a mutual fund.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 78, subclause (3), line 2, delete “afine” and insert “an administrativepenalty”. Mr Speaker, that is consequential. Question put and amendment agreedto. Clauses 78 as amended ordered tostand part of the Bill. Clause 79 and 80 ordered to stand partof the Bill. Clause 81 -- Duties of a manager of amutual company.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 81, subclause (4), line 3, delete“directed” and insert “determined”. Mr Speaker, “material and resourcesdetermined by the Commission” and notdirected by the Commission.

Speaker
Mr Second Deputy Speaker

Very well. Question put and amendment agreedto. Clause 81 as amended ordered to standpart of the Bill. Clause 82 to 85 ordered to stand partof the Bill. Clause 86 -- Changes in unit trust andmutual fund.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 86, subclause (1), line 1, after “in”insert “scheme particulars, regulationsand any other document used to operate”.

Speaker
Mr Speaker, the new rendition will readas follows

1) “A proposal for change inscheme particulars, regulations andany other document used tooperate a unit trust or mutual fundis subject to approval by a specialresolution of holders of interest in aunit trust or mutual fund”. Question put and amendment agreedto. Clause 86 as amended ordered to standpart of the Bill. Clause 87 -- Change and retirement oftrustee or custodian.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 87, subclause (4), line 1, delete“may” and insert “shall” Mr Speaker, the new rendition is; 4) “A trustee or a custodian shall bereplaced by a person who satisfiesthe requirement of this Act”. Question put and amendment agreedto. Clause 87 as amended ordered to standpart of the Bill. Clause 88 -- Change of manager of unittrusts and mutual funds.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 88, subclause (1), line 1, after“trustee” insert “of a unit trust”. Mr Speaker, the new rendition will read; 1) “A trustee of a unit trust ordirectors of a mutual fund, shall givewritten notice to the Commission…” Question put and amendment agreedto. Clause 88 as amended ordered to standpart of the Bill. Clause 89 -- Retirement of manager.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 89, subclause (1), line 2, after“trustee” insert “of a unit trust”. Mr Speaker, that is consequential. Question put and amendment agreedto. Clause 89 as amended ordered to standpart of the Bill. Clause 90 ordered to stand part of theBill. Clause 91 -- Prohibited transactionsunder mutual fund.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 91, subclause (2), line 1, delete“Paragraph” and insert “Paragraphs”. Mr Speaker, this is just to correct the -- Question put and amendment agreedto.. Clause 91 as amended ordered to standpart of the Bill. Clause 92 -- Limitation on securitiesin which officers have interest.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 92, line 3, delete “a percentage”and insert “ten per cent” and in line 4,delete “that the commission maydetermine”

Speaker
Mr Speaker, the new rendition wouldread as follows

“A scheme shall not invest in anysecurities of a class in a companyor other body if an officer orcollectively officers of the managerown more than ten percent of thetotal nominal amount of the issuedsecurities of that class…”

Speaker
Mr Second Deputy Speaker

Very well. Yes, Hon Ranking Member?

Speaker
Dr A. A. Osei

Mr Speaker, a minoramendment. The last ‘of' should also bedeleted. In line 4, it says delete “from that”but it should be “of that” and all thatfollows. Hon Chairman, do you get it?

Speaker
Mr Second Deputy Speaker

Yes, HonChairman of the Committee?

Speaker
Dr A. A. Osei

It should end at “of theissued securities” and not “securities of”.

Speaker
Mr First Deputy Speaker

Securitiesof that class? Question put and amendment agreedto. Clause 92 as amended ordered to standpart of the Bill. Clause 93 to 98 ordered to stand partof the Bill. Clause 99 -- Termination of scheme. Hon Chairman of the Committee?

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 99, subclause (1), line 2, delete“scheme's constitution” and insert“constitution of the scheme”.

Speaker
Mr Avedzi

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto. Clauses 99 as amended ordered tostand part of the Bill. Clause 100 to 102 ordered to stand partof the Bill. Clause 103 Revocation of licence of ascheme.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 103, subclause (3), line 2, delete“twenty-one” and insert “thirty”. Mr Speaker, the manager of the unittrust of the directors of the mutual fundmay within “thirty days” and not “twenty-one”. Mr Speaker, the Committeeproposes “thirty days” instead of the“twenty-one”.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 103, subclause (4), delete andinsert the following: “(4) The Commission may revokethe licence of a scheme if -- (a) after the expiration of theperiod the scheme has notmade representations; or (b) it is not satisfied withrepresentations made by thescheme.” Clause 103 as amended ordered tostand part of the Bill. Clause 104 -- Suspension of licenceof unit trusts and mutual funds

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 104, subclause (2), paragraph (b),line 2, delete “thirty” and insert “twenty-one” Mr Speaker, the revocation is moreserious than suspension. In clause 103,we made the revocation thirty days andtwenty-one days for the suspension. That is why we made that proposal.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 104, subclause (3), line 1, delete“revoke” and insert “suspend”. Mr Speaker, this is a clause that talksabout suspension and not revocation. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 104, add the following new sub-clause (4): “(4) The Commission shallcommunicate its decision tosuspend the licence of the unit trustor mutual fund within thirty daysafter the representations have beenmade or if none is made, within thirtydays after the last day for makingthe representation.”

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto. Clause 104 as amended ordered tostand part of the Bill. Clause 105 to 106 ordered to stand partof the Bill. Clause 107 -- Unauthorised schemesand use of words “mutual fund” or “unittrust”.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 107, subclause (3), line 2, delete “afine” and insert “an administrativepenalty”.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto. Clause 107 as amended ordered tostand part of the Bill. Clause 108 -- General penalty

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 108, closing phrase after paragraph(c), delete “a fine” and insert “anadministrative penalty”

Speaker
Mr Speaker

It is consequential. Question put and amendment agreedto. Clause 108 as amended ordered tostand part of the Bill. Clause 109 -- Licences

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 109, subclause (1), line 4, delete“depository and” and insert “depository,”and in line 8, delete “the” and insert“this”.

Speaker
Mr Speaker, the new rendition wouldbe

“A person shall not carry onbusiness as a securities exchange,hedge fund, private equity fund,venture capital fund, nominee, creditrating agency, broker-dealer,primary dealer, investment adviser,fund manager, trustee, custodian,securities depository and clearingand settlement services …” In the last line: “… person holds a valid licenceissued under this Act.” Question put and amendment agreedto.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee?

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 109, add the following newsubclause: “(4) A person authorised by theCommission may (a) enter any premises or propertywhich the Commission hasreason to believe is occupiedor used by a person incontravention of this Act orany Regulations made underthis Act; (b) search for a book, recordstatement, document or anyother item; (c) seize or make a copy of a book,record statement, documentor any other item; (d) question a person, auditor,director, member or a partnerof a person conductingbusiness on the premises; (e) direct that the premises or anypart of it or anything on it besecured and left undisturbedfor as long as necessary; and (f) close down the business asthe Commission considersnecessary.”

Speaker
Mr First Deputy Speaker

Very well. Mr Agbesi -- rose --

Speaker
Mr First Deputy Speaker

Yes, HonDeputy Majority Leader?

Speaker
Mr Agbesi

Mr Speaker, could the HonChairman explain clause 109 (4) (a)?

Speaker
Mr First Deputy Speaker

Yes, HonChairman of the Committee? He wouldwant the rationale behind this newprovision.

Speaker
Mr Agbesi

Yes, Mr Speaker, what isthe rationale behind clause (4) (a)? “A person authorised by theCommission may (a) enter any premises orproperty which theCommission has reason tobelieve is occupied or usedby a person in contraventionof this Act or any Regulationsmade under this Act;” Mr Speaker, my problem is whether theperson who is authorised to go by theCommission need not obtain any orderfrom a judicial body to enter into thepremises.

Speaker
Mr First Deputy Speaker

Yes, HonChairman of the Committee, how do yourespond to that?

Speaker
Mr Avedzi

Mr Speaker, maybe, thequestion should be, “Who is thatauthorised person”? Any person who isauthorised by the Commission would beacting on behalf of the Commission. TheCommission has the power to enter anypremises or property in the conduct of itsbusiness. So, if the Commission authorisesanybody to do that on its behalf, theperson shall do so. That is why this newsubclause is needed so that, once theperson is doing that under the authorityof the Commission, he would be actingon behalf of the Commission.

Speaker
Mr First Deputy Speaker

The littleproblem that I have, just playing the devil'sadvocate, is that it could be subjected toabuse. So, why do we not introducesomething that would make it compulsoryfor them to go to the court and get a court'sorder to carry it out? I know that could also be cumbersomeif one would need to act fast. Yes, Hon Deputy Minority Leader?

Speaker
Mr Nitiwul

Mr Speaker, I appreciatethe Hon Chairman's point. This isbecause, essentially, that is the work ofagents of the Commission. If you readparagraphs (a) to (f), that is basically theirwork. If we are not careful, it would meanthat, for them to be able to do their work,they would have to go to the court everytime to seek permission. If they would wantto seize a book, they would have to go tothe court. If they would want to seize astatement, they would have to go to thecourt; and if they want a document, theywould have to go to the court. It would be cumbersome on their part.It is very tricky. I know that guarding of privacy is crucial, but we should alsonotice that is basically their work. So whathappens? That line is the problem.

Speaker
Mr First Deputy Speaker

Yes, HonRanking Member?

Speaker
Dr A. A. Osei

Mr Speaker, in myopinion, we should stand this down fornow and discuss it further. This is becausethe key words here; “has reason tobelieve” could be subject to abuse. It says;“… has reason to believe …” Any personthe Commission might decide --

Speaker
Mr First Deputy Speaker

Yes, HonChairman of the Committee?

Speaker
Mr Avedzi

Mr Speaker, first of all, letus not forget that this is a regulatory bodyfor all the security industry players and inorder to stop persons from operatingillegally and a person would want theCommission to go to court any time theywould want to enter a premises to conducttheir business. Let us not also forget thatGhana Revenue Authority (GRA) has thesame power. Hon Chairman, the reason I am sayingthis is that, if you look at the Economicand Organised Crime Office Act, 2010 Act,it was couched in such a way that initially,they could take certain steps, but within acertain time frame they had to seekratification from the court because of theurgency of the situation. Did you get me? I would agree with the Hon RankingMember that we step it down, take asecond look at it and see how best wecould frame it. We are looking at rights ofcompanies and individuals. I do not knowhow you feel about it.

Speaker
Mr Avedzi

Mr Speaker, I agree withyou but we are also looking at the pointwhere the Commission is always in court.

Speaker
Mr First Deputy Speaker

No, thepoint I am making is, you would have thepower to initially take the step. But aftertaking the step, within a certain time frame,the Commission should go to the Courtfor ratification so that the person who isthe subject matter of the issue would alsohave the opportunity to raise thoseissues.

Speaker
Mr Avedzi

Mr Speaker, that is also mypoint. Taking all those steps and endingup in court to take the order to enter thepremises would mean the Commissioncannot do anything --

Speaker
Mr First Deputy Speaker

No! You donot get me. What I am saying is, you cangive the Commission the power toimmediately do so without going to court.After doing so, however, within a certaintimeframe, go back to court and getratification so that where there are someemergency issues or urgent issues, theycould be taken into account. Yes, Hon Ranking Member?

Speaker
Dr A. A. Osei

Furthermore, here, weare talking about licences, but therendition says; “…is occupied or used bya person in contravention of this Act …” This does not only deal with licences.We are dealing with a global issue,anything to do with the Act. Even thatsuggests that if there is anything, we mustlimit it to the issue of licences. Therendition here is too broad, we are talkingabout licences. In my opinion, we need to stand itdown, get together and see whether wecould convince ourselves why we thinkthe rendition is right. Yes, this clause 109,let us look at why we have made it sobroad. We are only talking about licencesand not anything under this Act, but ifyou look at the rendition --

Speaker
Mr First Deputy Speaker

Yes, HonDeputy Majority Leader?

Speaker
Mr Agbesi

Mr Speaker, if you look at(e); “direct that the premises or any partof it or anything on it be securedand left undisturbed for as long asnecessary;” In the meantime, Mr Speaker, what youhave suggested -- why this is being doneis to get a court order for one to completethe process. Mr Speaker, if we look at paragraph (f),“close down the business …” they aregoing to rely on this sanction to closedown. It must necessarily be by a courtorder. 12. 10 a.m.

Speaker
Mr Nitiwul

Mr Speaker, this is notnew. When we were doing the GhanaRevenue Authority (GRA) Bill, we gavethe same powers. [Interruption.] Wegave them virtually the same thing. Theycan enter any premise; they can cease aslong as they are undertakinginvestigation. [Interruption.] It is not anew thing. With the argument he hasmade, if we go back to what we did forGRA, it is not new. We did a very similarthing.

Speaker
Mr First Deputy Speaker

HonMembers, to play it safe, I would preferthat we err on the positive side of themargin. Let us defer the furtherconsideration of this. The Committeeshould go back and take a look at it withall the concerns raised and then comeback to the House and let us move on. [Amendment deferred by leave of theHouse] Clause 110 to 117 ordered to stand partof the Bill.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 118, subclause (4), lines 2 and 3,delete “a fine” and insert “anadministrative penalty”. Question put and amendment agreedto. Clause 118 as amended ordered tostand part of the Bill. Clause 119 to 120 ordered to stand partof the Bill. Clause 121 -- Register of licenceholders

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 121, subclause (1), paragraph (a),add the following new sub-paragraph: “(ii) the names of the directors andprincipal officers of the holder”. Mr Speaker, the Committee is of theview that the Commission shall keep inappropriate form, a register of holders ofcurrent licences specifying the names ofthe directors and principal officers of theholder. Question put and amendment agreedto. Clause 121 as amended ordered tostand part of the Bill. Clause 122 -- Revocation orsuspension of licences.

Speaker
Dr A. A. Osei

Mr Speaker, I would wantthe Chairman to take a look at this. Theheadnote talks about revocation or suspension of licences. But, there is noword about suspension in there; I am notsure if that is an oversight or not.[Interruption.] Mr Speaker, should clause 122 (1) notbe “A licence is suspended or revoked…”? This is because it is about revocationor suspension. I think the word“suspension” should be used togetherwith “revocation”. I do not see it, howeverand I wonder if we have not missed it.

Speaker
Mr First Deputy Speaker

Whichclause are you referring to?

Speaker
Dr A. A. Osei

Mr Speaker, clause 122.For example, the headnote talks aboutrevocation or suspension of licences.Then subclause (1), line 1 says, “A licenceis revoked…” I do not see the words“suspended or revoked”. There are otherparts in there and I do not know if theCommittee -- [Interruption.] It is therebut I am wondering if it should not be insubclause (1) and subclause (5). That is the question. There are someinconsistencies and I think they may havemissed it.

Speaker
Mr Avedzi

Mr Speaker, I follow the HonRanking Member; the headnote talksabout revocation and suspension oflicences. But I do not also think that thetwo must move together all the time.Clause 121(1) talks about revocation: “A licence is revoked in the case of (a) an individual, if the individualdies; or (b) a body corporate or incorporatedprivate partnership, if it is woundup, …”

Speaker
Mr Speaker, when we come tosubclause (3) on page 66, it talks about

“In a case to which subsection (2)applies, the Commission may,instead of revoking a licence,suspend the licence for a specificperiod and may remove thesuspension.” Mr Speaker, so, there is a procedurethat is followed. I do not think that anytimethere is a revocation, there must also be asuspension because the headnote talksabout revocation or suspension.

Speaker
Mr First Deputy Speaker

HonChairman, is there a provision in thisparticular clause on suspension? Youhave spoken about revocation but is therea provision for suspension?

Speaker
Mr Avedzi

The subclause (3) says: “In a case to which subsection (2)applies, the Commission may,instead of revoking a licence,suspend the licence for a specificperiod and may remove thesuspension.” Mr Speaker, there is a procedure forrevocation, but if that procedure is notfollowed to the extent of revoking thelicence, the Commission would resort tosuspension.

Speaker
Dr A. A. Osei

Mr Speaker, we shouldbe a bit cautious. This is because I am notsure if we have not missed something.Subclause (5) talks about revocation. Butin subclause (4), both are mentionedand I am wondering if we have not missedit in subclauses (1) and (2). We can takenote of it and check with the sponsors tomake sure that we have not missed thatpart so that we would not make a mistake.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, what is yourview? In that case, we can defer it.

Speaker
Mr Avedzi

Mr Speaker, we can deferthis as well.

Speaker
Mr First Deputy Speaker

Very well. So, it is accordingly deferred. [Amendment deferred by leave of theHouse.]

Speaker
Mr First Deputy Speaker

HonMembers, clause 123? Clause 123 -- Power to reprimand ordisqualify.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 123, add the following subclause: “(2) Where the Commission issatisfied that a person has obtainedmoneys without a licence orcontrary to the terms of the licenceof the person, the Commission shall,in writing, instruct that person to-- (a) repay all the moneys obtainedand the profits accruing tothat person; (b) return assets acquired as aresult of the illegally obtainedmoneys or deposits; or (c) pay any interest or otheramounts which may be owedby that person in respect ofthose moneys, to therespective persons fromwhom the moneys wereobtained. Question put and amendment agreedto.

Speaker
Mr Avedzi

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 125, subclause (1), paragraph (a),before “broker” insert “a”. So that it would read, “a broker dealer”. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 125, subclause (1), paragraph (g),delete and insert “independent financialanalyst''. Mr Speaker, the appropriate name ortitle should be “independent financialanalyst” but not a “financial journalist.'' Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 125, subclause (2), paragraph (a),delete and insert “independent financialanalyst”. Question put and amendment agreedto. Clause 125 as amended ordered tostand part of the Bill. Clause 126 ordered to stand part of theBill. Clause 127 -- Notice of particulars toCommission

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 127, subclause (5), line 2, delete “afine” and insert “an administrativepenalty”. Question put and amendment agreedto. Clause 127 as amended ordered tostand part of the Bill. Clause 128 ordered to stand part of theBill. Clause 129 -- Production of register

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 129, subclause (2), line 3, delete “afine” and insert “an administrativepenalty” Question put and amendment agreedto. Clause 129 ordered to stand part of theBill.

Speaker
Mr First Deputy Speaker

Clause 130? Hon Chairman of the Committee --Sorry, Hon Deputy Majority Leader?

Speaker
Mr Agbesi

Mr Speaker, with yourpermission, there is the GhanaInternational Trade Commission Bill, 2014,at the Consideration Stage. Mr Speaker, we are left with only oneclause for that Bill to go through. Withyour permission and the indulgence of myHon Colleagues, could we at this stagego to that one before we come back tothis?

Speaker
Mr First Deputy Speaker

Yes, HonMember?

Speaker
Mr Alexander Kwamina Afenyo-Markin

Mr Speaker, with the greatestrespect, we have been learning about rulesand procedures. They have been teachingus. The timing of his application is aproblem in my view.

Speaker
Mr First Deputy Speaker

No! He isonly trying to draw my attention to thefact that. there is some other Bill to beconsidered, so that we can apportionsome time for that particular Bill as well.

Speaker
Mr Afenyo-Markin

Mr Speaker, theunderstanding I have is that he wants thisto be suspended for the time being, so thathe goes ahead -- that is the understanding.Mr Speaker, when we learn the rules thatway, and we the young ones --

Speaker
Mr First Deputy Speaker

HonMember, he has drawn my attention tosomething. It is for me to decide.

Speaker
Mr Afenyo-Markin

Mr Speaker, I amalso drawing your attention, that for thetime being, we are considering theSecurities Industry Bill, and you havecalled for clause 130 to be moved. Mr Speaker, I am drawing yourattention that under the circumstance, hecannot draw your attention to a differentmatter.

Speaker
Mr First Deputy Speaker

As Iindicated -- Yes, Hon Deputy MinorityLeader?

Speaker
Mr Nitiwul

Mr Speaker, we discussedit, so, it should not be a big problem if wecould put a stop to this one and finishthat one, and then come back to this.

Speaker
Mr First Deputy Speaker

So that wecan have a bite of every cherry. Hon Members, I believe that this is aconvenient point to bring the Consi-deration of the Securities Industry Bill,2015 to a close for today. Yes, Hon Deputy Majority Leader?

Speaker
Mr Agbesi

Thank you, Mr Speaker. Mr Speaker, Ghana International TradeCommission Bill, 2014 at the ConsiderationStage, item 13 at page 5.

Speaker
Mr First Deputy Speaker

Very well. Hon Members, the Ghana InternationalTrade Commission Bill, 2014 at theConsideration Stage -- [Pause.] Hon Chairman of the Committee, couldyou assist us? Ghana International Trade CommissionBill, 2014

Speaker
Mr George Kwame Aboagye

MrSpeaker, thank you very much. Actually, the clause under considerationis clause 46, not 45. Mr Speaker, the clause that we weredebating the last time was clause 46 andnot clause 45 as advertised.

Speaker
Mr First Deputy Speaker

Let us checkfrom the Votes and Proceedings.

Speaker
Mr Aboagye

And the clause is on theimmunity of members of the Commission.[Pause.]

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, I am advisedfrom the Votes and Proceedings of thatday that the debate is to continue withregard to clause 45 .

Speaker
Mr Aboagye

Mr Speaker, we were notdebating clause 45 at the time. The issuewas on immunity of members of theCommission, and that was clause 46. Wehave finished with clause 45. [Pause.]

Speaker
Mr Aboagye

Speaker
Mr First Deputy Speaker

HonChairman, immunity of members of theCommission is clause 46.

Speaker
Mr Aboagye

Mr Speaker, that is wherewe got to.

Speaker
Mr First Deputy Speaker

So, this iswhat you are saying. That it is not clause45, it should rather be clause 46?

Speaker
Mr First Deputy Speaker

Clause 46,the debate is to continue. Hon Chairman of the Committee, haveyou done anything about it?

Speaker
Mr Aboagye

Mr Speaker, wedeliberated on this matter, and we checkedwith section 113 of the Courts Act 1993,(Act 459) which exempts Supreme, Highand Circuit Courts from civil liability andnot necessarily criminal liability. So, we would want that to reflect in theimmunity of members of the Commission,so that we apply the same conditions inthe workings of the Commission.

Speaker
Mr First Deputy Speaker

What is theamendment you are proposing? Are youseeking to delete the word “criminal” andleave “civil”.

Speaker
Mr Aboagye

We are seeking to delete“criminal” and leave “civil”.

Speaker
Mr Afenyo-Markin

Mr Speaker,before I respond to what the HonChairman just said, I would want to findout from you whether the applicationwhich you graciously granted wasanchored on the Standing Orders. On thisoccasion, we are the masters of our ownrules. Just for the records -- Mr Speaker,I would want to understand, because Ihave looked into the Standing Orders --[Interruption.] -- No! I just want toenquire.

Speaker
Mr First Deputy Speaker

HonMember, I do not think we need to betying our own hands. Indeed, when itcomes to Consideration Stage, the rulesare more relaxed. He can even come withan oral amendment which has not beenadvertised in the Order Paper and it canbe taken. Hon Chairman, if I understand you,you are deleting the word “criminal” fromthat clause.

Speaker
Mr Aboagye

Yes, Mr Speaker.

Speaker
Mr First Deputy Speaker

So, it willbe left with “civil”. It will be civil immunityand not criminal. I think it makes moresense. Question put and amendment agreedto. Clause 46 as amended ordered to standpart of the Bill.

Speaker
Mr Aboagye

Mr Speaker, I beg tomove, clause 45, add the following newinterpretation --

Speaker
Mr First Deputy Speaker

Are yougoing back? Should it not be clause 54?

Speaker
Mr Aboagye

Yes, Mr Speaker, theseare the two advertised amendments. Clause 54 -- [Interruption] -- Sorry,Mr Speaker, it was a slip of tongue.

Speaker
Mr First Deputy Speaker

Yes, goahead.

Speaker
Mr Aboagye

Mr Speaker, I beg tomove, clause 54, add the following newinterpretation: “serious injury” means a significantoverall impairment in the positionof a domestic firm;” Mr Speaker, here, the problem wasthat we advertised “domestic firm” in thedefinition of serious injury, but it shouldbe “domestic industry”.

Speaker
Dr A. A. Osei

Mr Speaker, I was tryingto catch your eye before this amendmentwas moved. This is because my Senior inParliament, Hon Agbesi said there wasonly one amendment, so, we shouldmove. He is sneaking something. Thereare two amendments. So, he should havesaid we will do two amendments and therewill be no problem. But he said only oneand now, we are doing two. I hope that itis not three or four. Can he come clean?Now, he can swear that it is only two --[Interruption.] Mr Speaker, not being a lawyer, can youexplain to us what “significant overallimpairment” in the position of a domesticindustry is? This is a very seriousdefinition.

Speaker
Mr First Deputy Speaker

Can we getthe Hon Deputy Attorney-General andDeputy Minister for Justice to assist us?

Speaker
Dr Dominic Akuritinga Ayine

Thankyou very much, Mr Speaker. There is a distinction drawn herebetween material and serious injuries.Serious injury as the Hon Chairmanpointed out, is an overall impairment inthe position of the domestic industry. Inother words, there is a situation where inthe domestic industry, all the indexes ofinjury -- for example, downsizing oflabour, under utilisation of capacity, theinability of the industry to be able toborrow from the banking system and soon. It has got to a stage where the industryis almost collapsing, non-existent asopposed to material injury. Mr Speaker, we are taking this, directlyfrom the World Trade Organisation (WTO)definition. In fact, you the economistsshould be helping us. This is because it isnot a legal term; it is an economic term.The overall impairment in the position ofdomestic industry is economic and notlegal.

Speaker
Dr A. A. Osei

Mr Speaker, that waswhy I asked, because I thought thelawyers were trying to borrow withoutacknowledging -- [Interruption.]

Speaker
Mr Afenyo-Markin

Mr Speaker, is theDeputy Attorney-General and DeputyMinister for Justice suggesting thisoverall impairment is a WTO definition?If so, is “serious injury” a term of art?

Speaker
Mr First Deputy Speaker

Very well. Can we hear from you, DeputyAttorney-General and Deputy Ministerfor Justice? [Pause.] Yes, Hon Minister for Foreign Affairsand Regional Integration?

Speaker
Ms Hannah S. Tetteh

Mr Speaker,indeed, the term “serious injury” as theHon Deputy Attorney-General andDeputy Minister for Justice said, is liftedfrom the WTO Agreement, I think it isparticularly article 4. The term “seriousinjury” within that context is a term of art. Infact, when you look at the definitionsection, most of definitions are lifted fromarticle 4. So, given that we are members ofthe WTO, we have signed up to thatagreement and that is something that ispart of our international obligation. If weare domesticating it by putting it into thisAct, it is the appropriate thing to do.

Speaker
Mr First Deputy Speaker

Very well,thank you very much. Yes, Hon Samuel Atta Akyea?

Speaker
Mr Atta Akyea

Mr Speaker, by reasonof the definitions that they are puttingacross, do we also have a definition for“material injury”? This is because she justspoke of one for serious injury. Is thereone for material injury? What will be theconsequences in terms of how we situateit in the Bill?

Speaker
Ms Tetteh

Mr Speaker, I do not recallthat there is a definition for -- There ismaterial injury in our draft Bill, but not somuch so within the WTO Agreement. Remember that what the InternationalTrade Commission is supposed to do, isto sit and investigate matters wheredomestic industry players, which meansmore than one business -- It hasindicated that as a result of goods beingimported into our country, which are beingsubsidised as a result of subsidies thatare used to assist exporting businessesfrom the sending country, have come intoour space. In spite of the fact that we charge duty,are still cheaper than domestic productionas a result of those subsidies, they needto be given some redress. The way to dothat is, once that investigation has beendone and it is established that is the case,to do that by imposing additional dutieson those products. So, the whole point of understandingwhether there is a serious injury or not, isnot so much as direct compensation tothe firm, but given the necessary tariffprotection, so that the business can besustained in the face of subsidisedcompeting imported goods. So, we should look at it again, withinthe context of what this GhanaInternational Trade Commission issupposed to do.

Speaker
Mr First Deputy Speaker

Very well. Hon Members, having come this far, Iwould put the Question. Question put and amendment agreedto. Clause 54 as amended ordered to standpart of the Bill. Long title ordered to stand part of theBill.

Speaker
Mr First Deputy Speaker

HonMembers, this brings us to the end ofConsideration Stage of the GhanaInternational Trade Commission Bill, 2014.

Speaker
Mr Agbesi

Mr Speaker, with yourpermission, there was one Paper to bepresented by the Hon Minister forEnvironment, Science, Technology andInnovation. It is captured in item 4 (a), on page 2 ofthe Order Paper.

Speaker
Mr First Deputy Speaker

Very well. Is the Hon Minister in the Chamber? Hon Members, at the Commencementof Public Business -- item numbered 4(a), by the Hon Minister for Environment,Science, Technology and Innovation.

PAPERS

Speaker
Mr Agbesi

Mr Speaker, with yourpermission, we would go back to theSecurities Industry Bill, 2015 at theConsideration Stage.

Speaker
Mr First Deputy Speaker

Very well. Hon Members -- And especially forthe attention of the Hon Member forEffutu, we are going back to the same Billwe were dealing with as at that time. Hon Members, the Securities IndustryBill, 2015 at the Consideration Stage.

Speaker
Mr First Deputy Speaker

HonMembers, I think that we have got toclause 130.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 130, headnote, delete “financialjournalists” and insert “independentfinancial analyst”.

Speaker
Mr Speaker, the headnote would read

“Particulars of independentfinancial analyst.”

Speaker
Mr Afenyo-Markin

Mr Speaker, Iwould just want to find out from theChairman of the Committee, whether “anindependent financial analyst” is goingto be defined.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, do you havea provision of definition in it?

Speaker
Mr Avedzi

Mr Speaker, we would bedefining what “an independent financialanalyst” is.

Speaker
Mr First Deputy Speaker

Very well.

Speaker
Mr Afenyo-Markin

Mr Speaker, I justwant to be double sure. He said they would be defining it and Iwould want to find out where.

Speaker
Mr First Deputy Speaker

HonMember, when we get to the definitionclause, it would be taken into account. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 130, subclause (1), lines 2 and 3,delete “the proprietor or publisher of anewspaper or periodical” and insert “anissuer of financial analysis or reportconcerning securities”.

Speaker
Mr Speaker, the new rendition wouldread

“The Commission or a personauthorised by the Commission mayby notice in writing require an issuerof financial analysis or reportconcerning the securities to supply;(a)…” Mr Speaker, then it follows. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 130, subclause (1), paragraph (a),line 1, delete “financial journalist” andinsert “independent financial analyst” andin lines 3 and 4, delete “published in anewspaper or periodical owned orpublished by that proprietor or publisher”and insert “issued”.

Speaker
Mr Speaker, the new rendition wouldread

Speaker
Mr Speaker, the new rendition wouldread

Speaker
Mr Speaker, the new rendition wouldread

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 130, subclause (1), paragraph (b),line 1, delete “financial journalists” andinsert “independent financial analysts”. Mr Speaker, it is consequential. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 130, subclause (2), lines 1 and 2,delete “A proprietor or publisher of anewspaper or periodical” and insert “Anissuer of financial analysis or reportconcerning securities”. Mr Speaker, it is consequential. Question put and amendment agreedto. Clause 130 as amended ordered tostand part of the Bill.

Speaker
Dr A. A. Osei

Mr Speaker, there is acongregation over there which isinhibiting the work of the House.

Speaker
Mr First Deputy Speaker

HonMembers, can we have some order,please? It is only one meeting. We do notwant any meeting within this meeting. Canwe have your attention? I do not want tomention names. Clauses 131 and 132 ordered to standpart of the Bill. Clause 133 -- Issue of contract notes

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 133, subclause (1), line 2, after“contract” insert “note”.

Speaker
Mr Speaker, the new rendition shallread

“A broker-dealer shall, in respect ofa transaction of sale or purchase ofsecurities, issue a contract note thatcomplies with subsection (2)”. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 133, subclause (2), paragraph (h),line 1, delete “duties and taxes” and insert“duties, taxes and charges”. Mr Speaker, we are adding “charges”to the list. Question put and amendment agreedto. Clause 133 as variously amendedordered to stand part of the Bill. Clause 134 -- Disclosure of interestsin securities.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 134, subclause (1), delete and insertthe following: “(1) Where a person who is (a) a broker-dealer, fund manager,investment adviser; or (b) a representative of a broker-dealer, fund manager or aninvestment adviser, sendcirculars or other similarwritten communications inwhich that person makes a recommendation, whetherexpressly or by implication,with respect to securities or aclass of securities, thatperson shall ensure that, thereis included in each circular orcommunication, in type, notless legible than that used inthe remainder of the circularor communication, a concisestatement of the nature of; (c) any interest in the securitiesor class of securities; or (d) any interest in the acquisitionor disposal of those securitiesor those securities included inthat class, that broker-dealer,fund manager, investmentadviser or their representativesor a person associated with thatbroker dealer, fund manager,investment adviser or theirrepresentatives has, at the dateon which the circular orcommunication is sent”. Mr Speaker, this is to break down therendition, to make it more reader friendly.The way it is couched is too clumsy, so,we are breaking it down into paragraphs(a), (b) and (c) for our readers to follow. Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 134, subclause (6), line 5, delete“subsections” and insert “subsection” Question put and amendment agreedto.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 134, subclause (7), line 5, delete “subsections” and insert “subsection”and also delete “apply” and insert“applies”. Question put and amendment agreedto. Clause 134 as amended ordered tostand part of the Bill. Clause 135 -- Recommendations byadviser

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 135, subclause (5), paragraph (a),line 3, after “broker-dealer” insert“representative of a fund manager”.

Speaker
Mr Speaker, the new rendition reads

“a reference to an adviser is areference to a person who is abroker-dealer, fund manager,investment adviser, representativeof a broker dealer, representative afund manager or representative ofan investment adviser”. Mr Speaker, it is an omission; so, weare just correcting it. Question put and amendment agreedto. Clause 135 as amended ordered tostand part of the Bill. Clause 136 ordered to stand part of theBill. Clause 137 -- Provision of unsecuredcredit

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 137, subclause (3), line 2, delete “afine” and insert “an administrativepenalty''. Mr Speaker, it is a consequentialamendment. Question put and amendment agreedto. Clause 137 as amended ordered tostand part of the Bill. Clause 138 -- Prevention of moneylaundering, terrorism financing and otherillegal activities.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 138, lines 2 to 4, delete “preventits facilities from being used for moneylaundering, terrorism financing,proliferation of arms and such other illegalacts” and insert the following: “ensure that it operates in a mannerthat will ensure compliance with theprovisions of the Anti-MoneyLaundering Act, 2008 (Act 749), theAnti-Terrorism Act, 2008 (Act 762)and the Regulations made underthese enactments. Question put and amendment agreedto. Clause 138 as amended ordered tostand part of the Bill. Clause 139 ordered to stand part of theBill. Clause 140 -- Handling of money ofclient by broker-dealers and otherlicensees.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 140, subclause (2), line 2, delete “afine of five hundred” and insert “anadministrative penalty of one thousand”. Mr Speaker, the first portion has aconsequential effect, which makes it anadministrative penalty. In the second portion, we areincreasing the penalty from the proposedfive hundred to one thousand penaltyunits. This is because we think that handlingof money of clients by broker-dealers andother licensees is an issue that shouldattract more penalty.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto. Clause 140 as amended ordered tostand part of the Bill. Clauses 141 to144 ordered to standpart of the Bill. Clause 145 -- Registration of securities.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 145, subclause (2), delete“Government of Ghana” and insert“Central Government” Mr Speaker, subsection (2) does notapply to Central Government. This is justto correct the rendition. This is becausemaking reference to the Government ofGhana, goes down to even the local level.So, what is actually meant is the “CentralGovernment”. Question put and amendment agreedto. Clause 145 as amended ordered tostand part of the Bill. Clause 146 ordered to stand part of theBill. Clause 147 -- False trading and marketrigging transactions.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 147, subclause (3), paragraph (b),lines 3 and 5, delete “purposes” and insert“purports” respectively. Mr Speaker, the appropriate word is“purports”. Question put and amendment agreedto. Clause 147 as amended ordered tostand part of the Bill. Clause 148 -- Submarket manipulation.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 148, subclause (1), line 1 after“concerned” delete “in” and insert “with”. “The person shall not effect, takepart in, or concern with, or carryout”. Question put and amendment agreedto. Clause 148 as amended ordered tostand part of the Bill. Clauses 149 to 152 ordered to standpart of the Bill. Clause 153 -- Prohibition of dealingsin securities by insiders.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 153, subclause (11), paragraph (e),line 1, delete “compromise” and insert“composition”. “A trustee or other personadministering a composition orarrangement made between thatbody corporate and any otherperson”. Mr Speaker, it is not “compromise” Question put and amendment agreedto. Clauses 153 as amended ordered tostand part of the Bill. Clauses 154 to 156 ordered to standpart of the Bill. Clause 157 -- Accounts to be kept bythe broker-dealers

Speaker
Mr Avedzi

I beg to move, clause 157 ,subclause (2), line 2, delete “a fine” andinsert “an administrative penalty”. Mr Speaker, it is consequential. Question put and amendment agreedto. Clause 157 as amended ordered tostand part of the Bill. Clause 158 -- Securities documentsin custody of broker-dealer.

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 158, subclause (1), paragraph (c),line 1, delete “that”.

Speaker
Mr Speaker, the new rendition shallread

“( c) if the client requests the depositof the document in safe custodywith his bankers of the broker-dealer, deposit the documents”. Question put and amendment agreedto.

Speaker
Mr Speaker, the new rendition shallread

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 158, subclause (5), line 2, delete “afine” and insert “an administrativepenalty” Mr Speaker, this is consequential. Question put and amendment agreedto. Clause 158 as amended ordered tostand part of the Bill. Clause 159 -- Trust account of broker-dealer

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 159, subclause (7), line 2, delete “afine” and insert “an administrativepenalty”. Mr Speaker, this is consequential. Question put and amendment agreedto. Clause 159 as amended ordered tostand part of the Bill. Clause 160 -- Purposes for whichmonies may be withdrawn from a trustaccount

Speaker
Mr Avedzi

Mr Speaker, I beg to move,clause 160, subclause (6), line 7, after“trust” add “account”. The new rendition would read: “or bank cheque an amount equalto the amount withdrawn from thetrust account”. Question put and amendment agreedto.

Speaker
Mr First Deputy Speaker

HonMembers, I would not want to put the Question with regard to clause 160 asamended because we could possibly havesome proposals coming up. For now, this brings us to the end ofthe Consideration of the SecuritiesIndustry Bill, 2015.

Speaker
Mr Agbesi

Mr Speaker, item number15, which is captured on page 19 of theOrder Paper-- Hazardous and ElectronicWaste Control and Management Bill, 2016.

Speaker
Mr First Deputy Speaker

HonMembers, the Hazardous and ElectronicWaste Control and Management Bill, 2016at the Consideration Stage. Hazardous and Electronic WasteControl and Management Bill, 2016

Speaker
Mr First Deputy Speaker

HonChairman, I believe this is the first bite weare having, so, we would start from clause1. Clause 1 ordered to stand part of theBill Clause 2 -- Importation of hazardouswastes and other wastes.

Speaker
Chairman of the Committee (MrSimon E. Asimah)

Mr Speaker, I beg tomove, clause 2, subclause (1), paragraph(d), line 3, after “manner” insert “or if the importer has identified acertified indigenous hazardouswastes management entity tomanage and dispose of the waste inan environmentally sound manner”. The justification for this amendment isto take care of the local content. Question put and amendment agreedto. Clause 2 as amended ordered to standpart of the Bill. Clauses 3 to 19 ordered to stand partof the Bill. Clause 20 -- Electrical and electronicwaste levy.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 20, subclause (1), paragraph (b),line 2, delete “and”. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 20, subclause (1), paragraph (c),delete and insert the following: “(c) complies with the items specifiedin the fifth Schedule; (d) complies with the items specifiedby the Minister by Regulations;and (e) pays for the advance eco levy ofthe item as specified byRegulations.” Question put and amendment agreedto. Clause 20 as amended ordered to standpart of the Bill. Clause 21 -- Designation of externalservice provider.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 21, subclause (1), line 3, delete “onbehalf of Government”. The reason being that all leviescollected are on behalf of Government, so,it is superfluous to restate that. Question put and amendment agreedto. Clause 21 as amended ordered to standpart of the Bill. Clauses 22 to 27 ordered to stand partof the Bill. Clause 28 -- Disbursement from theFund

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 28, paragraph (b), line 1, delete“thirty” and insert “forty”.

Speaker
Mr Speaker, the reason is that, theinitial proposal that came was that

“(b) thirty per cent of the fund shallbe allocated for the constructionand management of the electricaland electronic waste recyclingplant and related facilities”. Mr Speaker, but the Committeeconsidered it and it looks like much of thefund would be used for the establishmentof the Recycling Plant. So, a higherpercentage of 40 is proposed. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 28, paragraph ( c), delete and insertthe following: “( c) twenty per cent of the fund shallbe allocated to the Agency foractivities in furtherance of theobject of this Act”.

Speaker
Mr Asimah

Speaker
Mr First Deputy Speaker

Yes, HonMember?

Speaker
Dr A. A. Osei

Mr Speaker, when youcalled for all those in favour to say; “aye”,I did not hear anything.

Speaker
Mr First Deputy Speaker

HonMember, I heard it on both Sides.

Speaker
Dr A. A. Osei

Mr Speaker, they didnot speak. Mr Speaker, please, call it and see.[Laughter.]

Speaker
Mr First Deputy Speaker

HonChairman, please, continue.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 28, paragraph (e), line 2, delete“developments” and insert the following: “public awareness creation,education and sensitisation atnational, regional, district andcommunity levels”. Mr Speaker, we are making thisamendment as a result of the need tocreate awareness and sensitise theGhanaian public on the Act when it ispassed. Mr Speaker, it is to also establish theimportance of the electronic and electricalwaste management and recycling plant. It is very important to actually let thepublic know what is in the Act. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 28, paragraph (f), line 2, delete “bythe Agency” and insert “in furtherance ofthis Act”. Mr Speaker, this is because we wouldwant to put emphasis on the object of theAct. It should be, “in furtherance of theAct”. Question put and amendment agreedto. Clause 28 as amended ordered to standpart of the Bill. Clause 29 -- Establishment of recyclingfacilities.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 29, line 1, delete “may byLegislative Instrument make Regulations”and insert “on the advise of the Agencymay make arrangements”. Mr Speaker, this amendment isproposed as a result of the fact that theAgency is a technical wing of theMinistry which should advice the HonMinister on the implementationarrangements.

Speaker
Mr First Deputy Speaker

Very well. I believe this takes us away from thatproblem that arose earlier, not with regardto this particular Bill, but some other Bill. Question put and amendment agreedto.

Speaker
Mr First Deputy Speaker

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 31, headnote, after “of” insert“recycling and”.

Speaker
Mr Speaker, so, it would read

“Obligation of recycling anddisposal”.

Speaker
Mr First Deputy Speaker

HonChairman, what do you have at clause 31as the headnote? I would want you to readover what you have as the headnote.

Speaker
Mr Asimah

Mr Speaker, originally, itis “Obligation of disposal”. Mr Speaker, but it goes through aprocess; which is, one does the recyclingand then the disposal. So, we areinserting “recycling and”

Speaker
Mr Speaker, the headnote, would read

“Obligation of recycling and disposal”.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 31, line 2, before “disposal” insert“ recycling and”.

Speaker
Mr Speaker, it would read

Speaker
Mr First Deputy Speaker

So, do youwant to add the word, “and” as well?

Speaker
Mr Asimah

Mr Speaker, yes. Question put and amendment agreedto. Clause 31 as amended ordered to standpart of the Bill. Clauses 32 and 33 ordered to stand partof the Bill. Clause 34 — Regulations

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 34, paragraph (f), delete. Mr Speaker, we want this deleted inorder to fall in line with the —

Speaker
Mr Nitiwul

Mr Speaker, is the HonChairman holding a different Bill? The BillI have, clause 34 —

Speaker
Mr First Deputy Speaker

I can seethe problem. I had a similar problem. Table-Office, can you give him the right copy?

Speaker
Mr Nitiwul

So, this is not the rightBill.

Speaker
Mr First Deputy Speaker

It has beenwithdrawn and —

Speaker
Mr Nitiwul

Yes, because I was havingdifficulties even from clause 31 —

Speaker
Mr First Deputy Speaker

I had asimilar problem and that was why I wasconfronting the Hon Chairman at a pointin time.

Speaker
Mr First Deputy Speaker

Speaker
Mr First Deputy Speaker

So, Table-Office, can you just do us the favour?

Speaker
Mr Nitiwul

So, please, give us thecorrect ones. These are the wrong ones— [Pause.]

Speaker
Mr First Deputy Speaker

Table-Office, do we have copies to be circulated?[Pause.] Hon Members, what is the pleasure ofthe House? Have you given him one? Then wewould continue. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 34, add the following newparagraphs: “(i) Fees and Charges payable underthis Act:

Speaker
Mr First Deputy Speaker

Are we onsafe ground?

Speaker
Mr Nitiwul

Mr Speaker, a lot of my HonColleagues are not following and even withthat, we cannot make Regulations for Feesand Charges. That is done by another body. The Ministry of Finance isresponsible for that. All fees and chargesare made into a Bill by itself that comesthrough a Legislative Instrument (L.I.). So,I do not know why we would make “Feesand Charges” under this specific onealone. Mr Speaker, if we go to the Ministry ofRoads and Highways, all fees and chargesare done under one single Act and theyuse it by legislation. So, we may have aproblem if we bring, “Fees and Charges”here. And so, if we believe we want,“Fees and Charges”, then we would haveto send it to that particular fee. The difficulty is that a lot of HonMembers are not following what ishappening because they do not have theBill. And they are complaining, to whichthey are right.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, how do yourespond to the issue raised?

Speaker
Mr Asimah

Mr Speaker, we consideredthe issue raised by the Hon DeputyMinority Leader at the Committee level atlength and we want to defer it and look atit again.

Speaker
Mr First Deputy Speaker

Very well. Hon Members, it is accordinglydeferred. Hon Members, I will therefore, not putthe Question with regard to clause 34 asvariously amended. I will defer furtherconsideration until the Committee has metand taken a second look at this particularprovision — [Pause.] Hon Members, we would move on toclause 35.

Speaker
Mr Nitiwul

Mr Speaker, we are havingsome interesting debate here. Is it really the fault of the HonMembers? We do not have the correct Bill.So, we may have to debate that a bit andknow exactly where to stand so that thisdoes not happen again. That is the realproblem that we face. This is becausealmost all the people seem to have thewrong Bill and they are not following.Everybody is complaining and I am surethe same thing is happening at the otherSide. Almost all of them are complainingthat they do not have. So, we would look at it and couldengage some small debate. This is becausepeople cannot follow. It is either we find away of engaging ourselves until we get itor we have to find a way out.

Speaker
Mr Agbesi

Mr Speaker, we share theirconcern and I think that at this stage, wehave to suspend further debate on thisBill till tomorrow.

Speaker
Mr Afenyo-Markin

Why?

Speaker
Mr Agbesi

So that you get the correctBill that you want.

Speaker
Mr First Deputy Speaker

HonMember, you are out of order! I have notgiven you the floor. [Pause.] If you want to respond to what he hadsaid, you now have the floor.

Speaker
Mr Afenyo-Markin

Mr Speaker, if thisis not the correct one, then how did it findits way here?

Speaker
Mr First Deputy Speaker

I haveexplained that it was earlier laid and theSpeaker directed that it should be sent tothe relevant Committee for considerationand report. Later, they decided to

Speaker
Mr Nitiwul

Mr Speaker, I raised thismatter because the truth is that, HonMembers had it but it looks like theywere not able to distinguish between thetwo. So we can continue with theConsideration of the Bill.

Speaker
Mr Mahama Ayariga

Mr Speaker, withall apologies, the Bill was laid and it wasreferred to the Committee. The Committeemet and worked on it but advised that theentire Bill be withdrawn and theamendment as proposed by the Committeeeffected. So, the Bill was withdrawn, theamendment effected and then laid again. Mr Speaker, it went through theprocess of advertisement, et cetera, andas the Hon Deputy Minority Leader hasindicated, because people are having twocopies and many of the amendments werenot that significant, you are easily misledinto thinking that you are keeping theamended Bill when indeed, you arekeeping the old Bill. So, Mr Speaker, Ithink that not to disrupt the process, wecan continue. The last issue that the Hon Memberhas raised about the fees and charges --Indeed, it is advertised that that portionshould be deleted so that it would bereferred to the Ministry of Finance for itto be captured under their Fees andCharges Regulations.

Speaker
Mr First Deputy Speaker

Very well.

Speaker
Mr First Deputy Speaker

If thatparticular proposed amendment wouldtake care of this, then why do you notwithdraw your proposed amendment withregard to --

Speaker
Mr Asimah

Rightly so, Mr Speaker. It is withdrawn.

Speaker
Mr First Deputy Speaker

Very well. Leave granted for the withdrawal. [Clause 34 withdrawn by leave of theHouse.]

Speaker
Mr First Deputy Speaker

I will putthe Question on clause 34 as amended[Interruption] -- No! Both have beendeleted. So, we have ordered thedeletion and this clause as withdrawn.The earlier clause was deleted, that onehas been granted and then this one isbeing withdrawn. Clause 34 as amended ordered to standpart of the Bill. Clause 35 -- Interpretation

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 35, interpretation of “BaselConvention”, line 1, delete “Basal” andinsert “Basel”. Mr Speaker, it is only a question of thespelling.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr W. O. Boafo

Mr Speaker, I got upunder clause 34, but I did not catch youreye. Mr Speaker, I was just trying to drawyour attention to the fact that with theamendment of clause 34 -- the additionof paragraphs (i) and (j), there should be anew arrangement because the currentparagraph (h) --

Speaker
Mr First Deputy Speaker

HonMember, he has withdrawn that proposedamendment and I have granted him leaveto so withdraw.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 35, interpretation of “collection”delete Mr Speaker, we have realised that theword “collection” has been interpretedtwice and so, we would want the otherone deleted . On page 20, we have“collection” and on page 21 we haveanother “collection” and so we wouldwant one deleted.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee, specifically,which one are you deleting and whichone are you leaving?

Speaker
Mr Asimah

Mr Speaker, the first“collection” because the interpretationsare the same.

Speaker
Mr Afenyo-Markin

Mr Speaker, Inoticed that when it comes to thedefinition, it says. “collection includes”.Does that suggest that they envisagesome other meaning to be given to theword “collection”?

Speaker
Mr First Deputy Speaker

In otherwords, you would want to find out why itis not exhaustive. So, it means that if itincludes these ones, then there could beother ones which could also be part of it. Hon Chairman of the Committee, doyou follow the argument?

Speaker
Mr Asimah

Mr Speaker, I do not know-- It is the same interpretation. I have notseen any difference in the two.

Speaker
Mr First Deputy Speaker

Yes, I amwith you. You are withdrawing one ofthem. But in both of them, you are sayingthat this word includes -- What he wantsto find out is whether it is possible to getan exhaustive definition or that it ispossible for some other items to beincluded with time. Yes, Hon Minister?

Speaker
Mr Ayariga

Mr Speaker, this is a newarea where new technologies and methodsof managing waste are being developedevery day. So, if we are too exact in ourdefinition of what “collection” is andthrough innovation and invention, theybring in some new methods, we stand indanger of excluding those new methods. That is why we do not want to beexhaustive and leave it open, so that ifthere are new ways, then we would saythat it includes those new ways. So, Mr Speaker, that is the whole idea.

Speaker
Mr First Deputy Speaker

Very well.

Speaker
Mr Afenyo-Markin

Mr Speaker, wewould be better assisted if he refers to theportions of the Bill where the word,“collection” is used, so that we appreciatethe context better. Instead of saying thatbecause it is a new area, we are giving itan expanded meaning to take care of futuredevelopments, let us look at the contextwithin which the collection is used, thenwe can follow the argument.

Speaker
Mr Afenyo-Markin

Mr Speaker, myproblem is that, the Deputy MajorityLeader who for the time being is theActing Leader of this House and ActingLeader of Government Business has madean application for this matter to besuspended. So, having said that, I amwondering --

Speaker
Mr First Deputy Speaker

I am notsurprised. This is because you happen tobe a lawyer. [Laughter.]

Speaker
Mr Afenyo-Markin

Mr Speaker, he hasmade an application.

Speaker
Mr First Deputy Speaker

Yes; butwhich has not been granted.

Speaker
Mr Afenyo-Markin

It is so. But MrSpeaker, for the time being, somebody elsecannot make a counter applicationbecause he has made the application.

Speaker
Mr First Deputy Speaker

But I am todecide.

Speaker
Mr Afenyo-Markin

Very well.

Speaker
Mr Agbesi

Mr Speaker, in any case, Ihave withdrawn the application.[Laughter.]

Speaker
Mr First Deputy Speaker

Anyway. Hehas withdrawn the application, so be it. Yes, Hon Members, we shall continue.Do we defer the consideration of clause34? Chairman of the Committee, what dowe do?

Speaker
Mr Asimah

Mr Speaker, in fact, if yourefer to the Order Paper, we have actuallyan amendment proposed on page 22,under Fifth Schedule (xviii). It is proposedover there that the column headed “Fees($)” be deleted. So that takes care of the

Speaker
Mr Asimah

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 35 , add the following newinterpretation: “External Service Provider means anentity that is, or has at any time beenengaged under clause 21 of this Actto collect the advance eco- levy frome-waste exporting countries”. Mr Speaker, we are introducing this toactually give precise interpretation to the“External Service Provider” concept. In clause 21, the phrase, “designationof external service provider” has beenused. So, we are trying to actually givethe exact concept behind the words,“External Service Provider”.

Speaker
Mr First Deputy Speaker

Very well. Your point is well noted but before Iput the Question, I think, because you arereferring to a portion of this Bill which willlater metamorphose into law, instead ofusing the expression “clause 21”, we use“section 21”. Do you get me? Question put and amendment agreedto.

Speaker
Mr Patrick Y. Boamah

Mr Speaker, Ihave seen that the definition of‘collection' has been repeated on pages20 and 21. Secondly, “Basal Convention”means “Basel Convention”. I would wantthat typographical error also corrected.

Speaker
Mr First Deputy Speaker

HonMember, those issues have been takencare of. First of all, with the two collections,one has been removed and the correctionhas been made to the spelling of “Basel”.[Laughter.] Probably, you were not here. on his own earlier submission, perhaps,we could create another column to takecare of anything else that we envisage tobe happening in future, or he would wantto still come back with an amendment --

Speaker
Mr First Deputy Speaker

Very well, Hon Minister, can you please,respond?

Speaker
Mr Ayariga

Mr Speaker, I do not thinkit is the list of items that was an issue. Theissue was the method of collection; whatcollection entails. I said that day in, day out, wastemanagement experts devise newmechanisms for collection, processing,management, et cetera. That is why thedefinition of “collection” in this instanceis not exhaustive, so that if there is someinnovation in the way that electronic wasteis collected and managed -- It is not electronic items. For that, it iscertain. If this is an electronic item, it is anelectronic item, unless, there is a newinvention of an item. Mr Speaker, even there, I think therewas an earlier amendment which permitsthe Hon Minister to add new items thatare electronic in nature which have beeninvented. There was an earlier amendmentto the semantics to expand the Schedule.There is an amendment that enables theexpansion of the Schedules, so that dealswith this concern that you have raised -- Mr Afenyo-Markin -- rose --

Speaker
Mr First Deputy Speaker

HonMembers, looking at the nature ofBusiness and the time, I direct that wecontinue to do Business outside thestipulated time in accordance with ourStanding Orders. Yes?

Speaker
Mr First Deputy Speaker

HonMember, we have gone through all that.

Speaker
Mr Afenyo-Markin

Mr Speaker, I amonly seeking further clarifications.

Speaker
Mr First Deputy Speaker

We havegone through all that. Please, do not sendus back.

Speaker
Mr Afenyo-Markin

Mr Speaker, it isanchored on his own argument.

Speaker
Mr First Deputy Speaker

What I amsaying is that, he is trying to explain whythey did not make it exhaustive, becauseit is a modern trend and innovations keepcoming up. So, they try to make itexhaustive and then there is a newdevelopment, they would have to comeback to amend to include those ones andso on and so forth. So, that is theexplanation he has given. But for us to go back and look at theareas where “collection” has been usedand to find out and so on, would besending us back, with all due respect.

Speaker
Mr Afenyo-Markin

Mr Speaker, I agreewith you on this occasion.

Speaker
Mr First Deputy Speaker

Very well. Question put and amendment agreedto.

Speaker
Mr Asimah

Mr Speaker, I beg to move,clause 35, interpretation of “management”line 1, after “transport” insert “treatment”.

Speaker
Mr Speaker, it will read

“Management, means thecollection, transport, treatment anddisposal of hazardous wastes andother wastes and the after-care ofdisposal sites”. Question put and amendment agreedto. So, those issues have been taken intoaccount. Clause 35 as amended ordered to standpart of the Bill.

Speaker
Mr First Deputy Speaker

HonMembers, we would move on to the FifthSchedule -- [Pause.] Hon Members, we are jumping the gun.We would start with the First Schedule. First, Second, Third and FourthSchedules ordered to stand part of the Bill. Fifth Schedule -- List of electrical andelectronic equipment for which levy isapplicable

Speaker
Mr Asimah

Mr Speaker, I beg to move,Fifth Schedule, column headed “Fees ($)”,delete Question put and amendment agreedto. Fifth Schedule as amended ordered tostand part of the Bill.

Speaker
Mr First Deputy Speaker

Yes, HonMembers, we are moving on to -- Yes, Hon Member?

Speaker
Mr Afenyo-Markin

Mr Speaker, underthe First Schedule, I was wondering whywe have given exhaustive categories tobe controlled. I am saying so because, inthe Hon Minister's earlier submission onthe definition of collection, he had arguedthat because it is a new area, they neededto give room for possible activities thatwould be looked at later on. I would just want to understand therationale for this, so that possibly relying

Speaker
Mr Afenyo-Markin

Mr Speaker,which specific amendment is the HonMinister referring to? I have the law withme. [Pause.]

Speaker
Mr Ayariga

Mr Speaker, I think theHon Member can look at page 19 of theOrder Paper, clause 20. The amendment inthe clause provides for items specified inthe Fifth Schedule, by the Hon Ministerby regulations. So, that creates space foran expansion of the Schedule in the Bill.

Speaker
Mr First Deputy Speaker

Very well. Hon Members, we now move on to theNew Clause as in item (xix.) New Clause -- Parliamentary approval

Speaker
Mr Asimah

Mr Speaker, I think weare withdrawing all those “New Clauses”.

Speaker
Mr First Deputy Speaker

No! HonChairman, let us go step by step. We aredealing with New Clause item (xix) now.Do you want to withdraw that one?

Speaker
Mr Asimah

Mr Speaker, I think I seekleave to withdraw New Clause numbered(xix) on the Order Paper.

Speaker
Mr First Deputy Speaker

Very well.Leave granted. [Amendment withdrawn by leave ofthe House.] New Clause numbered (xx) --Accounts and audit

Speaker
Mr Asimah

Mr Speaker, New Clausenumbered (xxi) withdrawn accordingly.

Speaker
Mr First Deputy Speaker

Let us gothrough the Motions. You are seekingleave to withdraw, so, I have to grant youthe leave. Yes, Hon W. O. Boafo?

Speaker
Mr Boafo

Mr Speaker, the HonChairman is trying to withdraw a series ofproposed amendments without assigningany reasons. We would like him to givereasons why he is withdrawing theamendments.

Speaker
Mr Second Deputy Speaker

Very well. Hon Chairman, there is a request forthe rationale behind the withdrawal.

Speaker
Mr Asimah

Mr Speaker, I seek leaveto withdraw the amendments. The reasonbeing that at the Committee level, it waslooked at exhaustively and I think it is inthe course of coming out with theamendment that it found its way into it.But at the Committee level, we did notactually agree to these. That is why I amseeking leave to withdraw theseamendments.

Speaker
Mr First Deputy Speaker

Very well. Hon Member, you appear to be soexcited about this latter part of the wholeexercise. Yes, let us hear from you.

Speaker
Mr Afenyo-Markin

Mr Speaker, thisamendment was advertised in his name asHon Chairman of the Committee. In givingreasons for the withdrawal, his argumentis that it was after the Committee had met,forgetting that he came up with thisamendment after their meeting. Mr Speaker, so, he should tell us exactlywhy, and that was the application by theHon W. O. Boafo, why after agreeing toamend, he is now seeking leave towithdraw. That is the application.

Speaker
Mr First Deputy Speaker

HonMember, I think that they have indicatedand it is the whole Committee and it is nothim personally --

Speaker
Mr Nitiwul

Mr Speaker, for example,let us go to New Clause numbered (xix)where he says; “The administrator shall submit toParliament within three months afterthe passage of the AppropriationAct, the usage of the Fund forapproval”. Mr Speaker, we are precisely talkingabout March and now, he says he wantsto withdraw it. I am asking him why hethinks it is not necessary for theAdministrator to bring it back toParliament. That is what we are asking. Itwas a good suggestion that they shouldbring it to Parliament --

Speaker
Mr First Deputy Speaker

Forapproval.

Speaker
Mr Nitiwul

Mr Speaker, he says wedo not need to bring it to Parliament; sowhy?

Speaker
Mr First Deputy Speaker

Yes, canwe hear from you?

Speaker
Mr Ayariga

Mr Speaker, I thinkbasically, the reason for the decision todrop all these is that Hon Members talkedabout the Fund and likened it tosomething like the Ghana EducationalTrust Fund (GETFund) and the procedureof coming to Parliament for approvalbefore disbursement, but then it wasrealised that in this case, the formula hadbeen spelt out clearly. Forty per cent for allocation forconstruction and management ofelectronic waste recycling plant, 20 percent for allocation for collection ofelectronical and electronic waste, 10 percent for the Agency. Mr Speaker, so, the detailedbreakdown of allocation has been donein the Legislation already. So, the questionarose: if we come to Parliament, what are

Speaker
Mr Nitiwul

Mr Speaker, you are right.If the Committee met, they might havegiven a reason they want to withdrawthat amendment or they do not want topursue that amendment today. As soonas the Hon Chairman put the amendmenton the Order Paper, he brought it to theTable Office and they put it on -- So, ifthey are now withdrawing, they will say,because of so, so and so, they arewithdrawing. Mr Speaker, this is because if I walkout now and somebody meets me andasks why the amendment was withdrawn,what will I say? We just withdrew itbecause the Hon Chairman says weshould withdraw it. I do not think that ishow it is done in Parliament. Mr Speaker, they should tell us thereasons the Committee adduced. If theyare convincing, we will and if they are notconvincing, we will say no.

Speaker
Mr Agbesi

Mr Speaker, I do not seewhy this should be a problem. TheCommittee through the Hon Chairman hasproposed an amendment and upon secondthought, they decided that theseamendments are not necessary and so,they are withdrawing them. So, what isthe problem? They have brought theiramendments, they are withdrawing themand what is wrong with it? Did they giveany reasons why they arewithdrawingthem? They are in the public-- [Interruption.]

Speaker
Mr First Deputy Speaker

HonMembers, let us have some order. We havealready dealt with item (xix) and theQuestion has been put and that one isgone. We are now at New Clausenumbered (xx). Now, Hon Chairman, there is a requestthat you assign reasons for your decisionas a Committee to withdraw the proposedamendment. Can you give us --

Speaker
Mr First Deputy Speaker

Speaker
Mr First Deputy Speaker

Precisely.You are free to propose amendmentsalong those lines. Hon Members, leave is granted theHon Chairman of the Committee towithdraw the amendment advertised as(xx). That is accordingly done. [Amendment withdrawn by leave ofthe House.]

Speaker
Mr First Deputy Speaker

Now, we aremoving to New Clause (xxi). New Clause -- Annual report.

Speaker
Mr First Deputy Speaker

HonChairman of the Committee? move it here. Unless we are saying thatthis House cannot take it; but by ourconvention and rules, I could move it here.

Speaker
Mr First Deputy Speaker

I am notsaying that you cannot move an oralamendment. We have done it severaltimes. But in a situation where theCommittee proposed certain amendmentsand the same Committee has withdrawnand you want those amendments to bereintroduced, I would prefer that you comeby an advertised proposal.

Speaker
Mr Ayariga

Mr Speaker, we wouldengage the Hon Deputy Minority Leaderon this particular clause. I think that it is agood proposal that we should maintainthe reporting requirements. So, we wouldconsider it and then duly advertise it. Wecould sort out this clause that is left.

Speaker
Mr First Deputy Speaker

HonMembers, at this point I would direct thatwe come to the end of the ConsiderationStage for the Hazardous and ElectronicWaste Control and Management Bill, 2016for today. Mr Boafo -- rose --

Speaker
Mr First Deputy Speaker

Yes, HonBoafo?

Speaker
Mr Boafo

Mr Speaker, I want to seekyour direction. When I was given the newBill, I realised that under clause 27, it isthe Hon Minister who is going to appointthe administrator. That is unconstitutionalbecause all appointments in the PublicService are done by the President.

Speaker
Mr First Deputy Speaker

HonMember, unfortunately, I have brought theConsideration Stage to a close. We havenot completed the Consideration of thisparticular Bill, so at the appropriate time --if you intend proposing some amendment we going to ask for? This is becauseParliament has already told you in detailwhere every money should go to. So, whatis the whole idea of coming back to theHouse to -- So that was the basis fordeciding that then there was no need sinceParliament had already given detailedbreakdown of how the funds should beused. Mr Speaker, so that was the basis. Onthose grounds, it was realised that all theseproposals relating to the work of theAdministrator should be taken out.

Speaker
Mr Boafo

Mr Speaker, the Billprovides allocation of the Funds but theproposal is dealing with the usage of theFunds. That is the distinction. We wantto find out why he is withdrawing to seekapproval for the usage. We agree the Billprovides for allocation but here, we areconcerned with the usage of theallocation.

Speaker
Mr First Deputy Speaker

HonMembers, I believe that if the Committeefeels that it wants to withdraw, any HonMember could bring up a proposal foramendment. This is because we are notyet through with it; the Committee hasdecided that they brought this proposaland they want to withdraw it. But any HonMember of the House could propose anamendment; we have not finished with theBill as yet. We have deferred certain portions forconsideration and so, you should feelfree to propose amendments in the interim;between adjournment today and the nextSitting, you could bring those proposals.

Speaker
Mr Nitiwul

Mr Speaker, it is importantand that is why we do not have tocomplete the debate on it. I would giveyou an example; under the same clause28, when we say that three and a half per

Speaker
Mr Asimah

Mr Speaker, I beg towithdraw the amendment advertised as(xxi). [Amendment withdrawn by leave ofthe House.]

Speaker
Mr First Deputy Speaker

Leavegranted and so, that ends it but if anyHon Member is interested in proposingamendments along those lines as per theamendments that have been withdrawn,the person is free to do so.

Speaker
Mr Nitiwul

Mr Speaker, I would wantto find out from the Hon Chairman of theCommittee whether apart from this thereis any other portion of the Bill where theannual report has been submitted to theHon Minister. Mr Speaker, it would be bad law for usto have a body which cannot beaccountable to the Hon Minister; they donot submit annual reports to the HonMinister. We should not even allow theCommittee to withdraw that one, no. Theother one, maybe yes, but we should notallow the Committee to withdraw this one. Mr Speaker, I beg to move, add thefollowing new clause. “Annual Report 31. (1) The Administrator shallsubmit to the Minister as soonas practicable but not more thansix months after the end of eachfinancial year --”

Speaker
Mr First Deputy Speaker

HonMember, as I have indicated, you haveroom to file an amendment -- [Pause.] -- No! This is a serious matter and wecannot take it orally. Just file an advertisedproposed amendment.

Speaker
Mr Nitiwul

Mr Speaker, it is also byour convention and rules that I could of a sort, please, feel free to do so, so thatwe could all look at it.

Speaker
Mr Boafo

Mr Speaker, I just wantedto draw the attention of the Hon Chairmanof the Committee to the clause 27, that, ifat a later consideration of Bill, some ofus are not around and he feels that it isvery important, he could take it up.

Speaker
Mr First Deputy Speaker

No! Feelfree to have discussions with them asindicated. If there is time, you could jointhem in the winnowing, and if not, youcould have discussions with theleadership of that Committee and then wecould make some progress. Hon Members, at this stage, Sittingwould be suspended for one hour. 2.17 p.m. -- Sitting suspended. 4.15 p.m. -- Sitting resumed.

Speaker
Mr First Deputy Speaker

HonMembers, the House is called to order. Hon Deputy Majority Leader?

Speaker
Mr Agbesi

Mr Speaker, we have beenwaiting for the Subsidiary LegislationCommittee to come with their report onthe Public Elections Regulations 2016. Butour information is that, they are still atthe meeting and have not finished theirdeliberations, so, we do not have theirreport now. Mr Speaker, that is the remainingBusiness for the day. In the absence ofthat Committee's Report, there is no otherBusiness for us to carry on. So, MrSpeaker, the House is in your hands forfurther directions.

Speaker
Mr First Deputy Speaker

Very well. Hon Members, in the light of thisdevelopment, I direct that the House beadjourned till tomorrow at 10.00 o'clockin the forenoon. Thank you very much. [Hear! Hear!]

ADJOURNMENT