Simon Coveney (Cork South Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The issue as to whether the Department would re-establish the co-operative development unit is part of the bigger issue regarding potential supports for the co-operative sector. There are a number of aspects to this issue. One of the most significant forms of assistance for the sector will be the introduction of a modern legal framework which will place the co-operative model on a more favourable and clear legal basis. This will encourage the consideration of the co-operative model as an attractive formation option for entrepreneurs and also for social and community activities. A modern legislative basis, including strong corporate governance requirements, will also provide confidence to stakeholders and help to encourage investment in co-operatives.

The Department will continue to engage widely with key stakeholders to raise awareness of the proposed legislation and the potential for those who wish to follow the co-operative ethos to grow and prosper under the modernised co-operative regime. This will include liaison with the co-operative sector and their representative bodies; the enterprise development agencies within the remit of the Department; other relevant Government Departments; professional advisors and direct communication by the Registrar with individual societies.

Supports to enterprises through the enterprise development agencies are not based on the model of business formation. It is considered that the most appropriate way to raise awareness of the potential benefits of the co-operative model is through existing channels and structures. However, this Department will keep matters under review in the context of preparations for the forthcoming legislation. The co-operative model is one of a number of options available to those considering establishing themselves in business. The forthcoming legislation will complement the already modernised and consolidated regime applying to companies. However, the choice of corporate model is a matter for the founders of any business and this Department does not promote any corporate structure over any other.