The Unclaimed Financial Assets (Amendment) Bill (National Assembly Bill sponsored by the Leader of the Majority Party, Kimani Ichung’wah has been withdrawn.
Thus follows a request from the Ichung’wah.
The Bill, which sought to allow owners or claimants of unclaimed financial assets to designate payments to another person, had progressed to the Committee of the Whole House but will no longer proceed.
Speaker of the National Assembly, Moses Wetang’ula announced the withdrawal on Wednesday, 5th March 2025 citing a letter by the Leader of the Kikuyu MP.
Why Unclaimed Financial Assets Bill was withdrawn
“In the letter dated 27th February 2025, the Leader of the Majority Party,” adding that, “In their submission to the Departmental Committee on Finance and National Planning, the Unclaimed Financial Assets Authority (UFAA), indicated that the authority was in the process of proposing comprehensive amendments to the principal Act. In this regard, the Authority requested stay of the current proposals for possible inclusion in the broader amendments to be proposed, ” stated Speaker Wetang’ula.
In accordance with Standing Order 140, the Speaker noted that a Bill’s sponsor may withdraw it at any stage without prior notice.
Wetang’ula confirmed that after considering the Leader of the Majority Party’s request, the Bill would be withdrawn immediately.
“I have acceded to the request and hereby direct that the Unclaimed Financial Assets (Amendment) Bill (National Assembly Bill No. 15 of 2024) stands withdrawn forthwith,” affirmed the Speaker
In a further Communication on Thursday, March 6th 2025, Speaker Wetang’ula clarified that the Kenyan Sign Language Bill (Senate Bill No. 9 of 2023), which is sponsored by Senator Crystal Asige will be co-sponsored by Nominated MP Umulkher Harun.
