Oireachtas Joint and Select Committees

Tuesday, 25 June 2019

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Scrutiny of the Industrial and Provident Societies (Amendment) Bill 2018

Ms Sinead Farrell:

To date, we have not experienced any issues with getting seven members. We have always managed to get seven members. There may be a limited number of areas in respect of which the minimum number needs to be reduced. While there are countries that have a lower minimum, one would need to examine the principles they are following and whether they are successful co-operatives. The purpose of a co-operative is economies of scale and the common purpose. The question is if that is feasible with three members. Seven is ideal because it means there are more people to help promote the purpose for which people have come together - the common goal. As I said, based on our experience there is no need to lower the minimum number.