Rory Hearne (Dublin North-West, Social Democrats)
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666. To ask the Minister for Enterprise, Trade and Employment to outline the work being carried out to support the formation of community-led cooperatives; and if he will make a statement on the matter. [44444/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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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.

Enterprise Ireland and the Local Enterprise Offices (LEOs) are committed to supporting a diverse range of business models that contribute to innovation, employment, and economic growth in Ireland. This includes co-operatives, provided they meet the core eligibility criteria of the relevant support schemes.

The Co-operative Societies Bill, which is nearing completion, will provide 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.

In the context of enactment of the Bill, my Department intends to engage widely with stakeholders including the co-operative sector, professional advisers, development agencies, relevant Government departments etc. to raise awareness of the modernised legislative basis underpinning co-operatives as an attractive option for entities wishing to operate under the co-operative ethos.

Rory Hearne (Dublin North-West, Social Democrats)
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667. To ask the Minister for Enterprise, Trade and Employment to outline the work being carried out to progress the Cooperative Societies Bill 2022; and if he will make a statement on the matter. [44445/25]

Peter Burke (Longford-Westmeath, Fine Gael)
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My Department is working to finalise the Co-operative Societies Bill which 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 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 Bill provides for a specific legislative framework for co-operative societies for the first time, with societies registering under the legislation being required to adhere to the co-operative ethos. It consolidates and modernises existing provisions and introduces modern corporate governance, financial reporting and compliance requirements, thereby providing confidence to stakeholders and making co-operatives more attractive to investors.

The Bill includes provisions to make it easier to set-up and operate a co-operative society – by reducing the minimum number of founding members (from seven to three); expanding the categories of founding members to include bodies corporate; and providing for audit exemptions for smaller co-operatives. The legislation will also repeal the existing outdated provisions on raising funds which will make it easier to access various sources of finance.

In recognition of the significant diversity across the co-operative sector, the Bill seeks to provide as much flexibility as possible, thereby empowering co-operative societies to reflect in their rules what best suits their own particular circumstances.

This is a large and complex Bill currently running to approx. 450 sections. Drafting of the Bill is nearing completion and my officials are working closely with the Office of the Parliamentary Counsel. I look forward to the final Bill being brought to Government at the earliest opportunity.