Govt to punish double-dipping

THE Public Entities Corporate Governance Bill will now criminalise taking of loans by managers or board members of public entities, which used to be the practice in State enterprises and parastatals, resulting in them being financially drained.


Clause 14 of the Bill as amended during the Committee Reading Stage of the Bill in the National Assembly will imprison for one year members of any board which knowingly authorises a loan or credit to a board member.

It reads in clause 14 (4): “No public entity shall extend any loan credit to; or enter into or facilitate any...

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