Louise O'Reilly
Question:157. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment the estimated cost of re-establishing the workers' co-operative development unit within his Department. [22200/23]
View answerThursday, 11 May 2023
Questions (157)
Written answers
The general scheme of the Co-operative Societies Bill 2022 sets out 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 general scheme has been informed by extensive consultation and engagement with key stakeholders. My 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; other relevant Government Departments; professional advisers and direct communication by the Registrar of Friendly Societies with individual societies.
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, my Department will keep matters under review in the context of preparations for the forthcoming legislation.
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.