Written answers
Tuesday, 19 July 2011
Department of Enterprise, Trade and Innovation
Enterprise Support Services
10:00 pm
Sandra McLellan (Cork East, Sinn Fein)
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Question 34: To ask the Minister for Jobs, Enterprise and Innovation if he has taken any initiatives to facilitate the development of energy co-operatives. [21161/11]
Dara Calleary (Mayo, Fianna Fail)
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Question 233: To ask the Minister for Jobs, Enterprise and Innovation if he will urgently review the legislation prepared by the previous Government to update the ancient law governing co-operative societies with a view to making provisions for energy co-operatives. [21021/11]
Richard Bruton (Dublin North Central, Fine Gael)
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I propose to take Questions Nos. 34 and 233 together.
Following a wide consultation by my Department with all interested parties in relation to the existing legislation pertaining to co-operatives, I recently announced that I had obtained Government approval for the preparation of new legislation aimed at addressing some of the practical difficulties faced by the co-operative sector.
Among the issues raised by the co-operative sector was a concern that a current statutory limit on individual shareholdings in societies - there is a limit of €150,000 or 1% of the total assets of a society, whichever is the greater - acts against renewable energy co-operatives, where quite intensive capital requirements apply. To address this concern, and to encourage the growth of energy co-operatives, one of the legislative changes I am proposing is the abolition of the limit on individual shareholdings. I hope to introduce this legislation early next year.
My responsibility lies in the legislative provision for co-operatives in general. Any initiatives to facilitate the development of energy co-operatives in particular would be a matter for my colleague, the Minister for Communications, Energy and Natural Resources.
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