Cormac Devlin (Dún Laoghaire, Fianna Fail)
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79. To ask the Minister for Enterprise, Trade and Employment if he is bringing forward new competition legislation; and if he will make a statement on the matter. [6830/22]

Robert Troy (Longford-Westmeath, Fianna Fail)
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Following Government approval late last month, the Tánaiste and I published the Competition (Amendment) Bill 2022 on Monday 31st January last. This Bill will give more powers to the Competition and Consumer Protection Commission (CCPC) and the Commission for Communications Regulation (ComReg) to challenge anti-competitive practices by business and protect consumers.

For the first time in Irish law, breaches of competition law can be enforced through administrative actions taken by competition authorities, with maximum fines of up to €10 million or 10% of total worldwide turnover, whichever is the greater.

This Bill represents a significant step-change in competition enforcement to effectively tackle white collar crime in Ireland and will be instrumental in supporting the ongoing work to protect and promote a competitive and fair marketplace that works for consumers and business alike.

I look forward to bringing this Bill through the Houses of the Oireachtas as a priority in the coming weeks.

Jackie Cahill (Tipperary, Fianna Fail)
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80. To ask the Minister for Enterprise, Trade and Employment the plans are in place to update legislation governing co-operatives. [6817/22]

Robert Troy (Longford-Westmeath, Fianna Fail)
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My Department is close to finalising legislative proposals for the most far-reaching reform of the legislation regarding Co-operative Societies in almost 130 years. The proposals will consolidate, modernise and strengthen the legislative basis for the sector and enshrine the co-operative model in legislation for the first time. This will allow co-operatives to operate under a modern, fit for purpose legislative framework, and provide an attractive alternative to the company law model for those entities who subscribe to the co-operative ethos.

I recently launched a public consultation on the proposed reforms and following consideration of the responses received, it is expected that a general scheme of a Bill will be brought to Government during Quarter 2 of this year.