Louise O'Reilly (Dublin Fingal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

539.To ask the Minister for Enterprise, Trade and Employment the estimated cost of establishing the co-operative development unit within his Department. [31173/24]

Dara Calleary (Mayo, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

In terms of the co-operative sector, the focus of my Department is on completing work on the Co-operative Societies Bill. Drafting of the Bill, by the Office of Parliamentary Counsel, is nearing completion and it is expected that the finalised Bill will be brought to Government in Q4 2024.

The Bill provides for the most far-reaching reform of the legislation governing co-operatives in the history of the State. The Bill introduces a modern legal framework which will place the co-operative model on a more favourable and clear legal basis and 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.

It should be noted that the co-operative model is one of a number of corporate options available to those considering establishing themselves in business. However, the choice of corporate model is a matter for the founders of any business and my Department does not promote any particular corporate structure over any other.

It is considered that the most appropriate way to raise awareness of the potential benefits of the modernised co-operative model will be through existing channels and structures and there are no plans to establish a dedicated unit for co-operative development.