Mr. Chris Gordon:

Deputy Collins is correct about the new provisions for co-operatives, the submissions on which I have read. It is just a grandfather that many of the co-operatives in Ireland exist as limited companies under company law and the Office of the Director of Corporate Enforcement. However, the Office of the Director of Corporate Enforcement has no control over co-operatives. It would only be aware of the problems or challenges faced by co-operatives. For example, it would not be able to intervene in AGMs and so on. This can only be done under IPS and Friendly Societies law. I am aware of the proposed changes. The current 100 or so co-operatives currently in existence should be granted standing and recognition within company law.