Bill Progress

Object of the Bill

The Object of this Bill is to amend the Insolvency Act, 2011 to provide for a creditors right to set off a debt subject to preferential debts, to repeal section 12 (2) of the Act, to empower the administrators and supervisors to avoid Transactions under Sections 15, 16, 17, 18 and 19 of the Act.

Other Attachments

1 LPA3-22-Report on the Insolvency (Amendment) Bill, 2022.pdf
Title: Report on the Insolvency (Amendment) Bill, 2022
Author: Parliamentary Committee on Legal and Parliamentary Affairs
2 Insolvency (Amendment) Act, 2022.pdf
Title: The Insolvency (Amendment) Act, 2022
Author: Parliament of Uganda

The Insolvency (Amendment) Bill, 2022

Sponsored By Hon. Kiryowa Kiwanuka (Attorney General)

Committee: The Committee on Legal and Parliamentary Affairs

Start

23/08/2022

First Reading/Committee

Bill is still at First Reading, the first reading being the first stage of a Bill passage through the Floor of Parliament and is usually a formality, it takes place without debate, and the first reading of a Bill can occur anytime in a parliamentary session.

30/08/2022

Second Reading

Bill is in the second stage. The second reading is the first opportunity for MPs to debate the main principles of the Bill. It usually takes place up to 45 days after the first reading.

30/08/2022

30/08/2022

Third Reading

Parliament is passing the Bill. The third reading is the final chance for the Members of Parliament to debate the contents of a Bill. Here debate on the Bill is usually short and limited to what is actually in the Bill rather than, as at the second reading, what might have been included.

06/09/2022

Presentation/Waiting Assent

Waiting for Assent. Bill is waiting for the President to assent to it. When the Floor of Parliament has passed a Bill, it shall be presented to the President, and the President shall declare either that he assents to the Bill or that he withholds assent.

06/09/2022

07/09/2022

Assented by President

The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.

End

Bill passed on 07/09/2022

The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.

Bill Withdrawn on 01/01/1970

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