The Senate has invited members of the public to submit their memoranda on the Business Laws (Amendment) Bill (Senate Bills No. 54 of 2024).

The bill was read for the first time in the Senate on Tuesday, 18th March 2025, and thereafter stood committed to the Standing Committee on Trade, Industrialization and Tourism for consideration.

"The Committee is required, under standing order 145(5) of the Senate Standing Orders, to facilitate public participation on the Bill and to take into account the views and recommendations of the public when the Committee makes its report to the Senate," said a notice by the Senate.

Among other Acts, the bill seeks to amend the Investment Promotions Act to provide for the accreditation of facilitators for foreign investors, amend the provision for the registration of foreign direct investment, and require the Authority to provide government services at a centralized facility.

It also seeks to amend the Land Act, Cap 280, to reduce the time given to a chargee before exercising the power of sale of property that is under the Affordable Housing Act, No.2 of 2024.

This means Kenyans who default on loans under the Affordable Housing scheme could face faster evictions if the bill is passed.

Under Section 90 of the Land Act, Cap 280, lenders must issue a three-month notice to borrowers, outlining the default details and necessary corrective actions.

If a borrower fails to make payments for four consecutive months, they will be officially classified as a defaulter.

According to the Affordable Housing Regulations 2024, drafted by the Ministry of Lands, Public Works, Housing, and Urban Development, if a borrower fails to remedy a default for four consecutive months, the Affordable Housing Board will take possession of the housing unit.

Currently, under the Land Act, Cap 280, lenders must also provide a statutory notice period before selling a property due to default, giving borrowers time to rectify the situation or explore alternative solutions.

"The memoranda may be submitted to the Clerk of the Senate, P. O. Box 41842-00100, Nairobi, hand-delivered to the Office of the Clerk of the Senate, Main Parliament Buildings, Nairobi or emailed to clerk.senate@parliament.go.ke and copied to tradeindtourismcomm.senate@parliament.go.ke. To be received on or before Tuesday, 15th April 2025 at 5.00 p.m.," said the notice.