The pre-legislative scrutiny report of the General Scheme of the Co-Operative Societies Bill, 2022 was published on Wednesday last, May 3rd by the Joint Committee on Enterprise, Trade and Employment.
The Co-operative Societies Bill will make it easier to set up and operate a co-operative society (co-operative) in Ireland, modernising and consolidating existing legislation, some of which dates back to the 19th Century. It aims to ensure that there is an effective framework in place for the range of organisations using the co-operative model in Ireland.
The Committee made a total of 27 recommendations and identified 19 key issues in the hope that they will assist the Minister for Enterprise, Trade and Employment in further improving this important piece of legislation.
Launching the report, Committee Cathaoirleach Deputy Maurice Quinlivan, said: “Among the issues identified by the Committee and witnesses for further examination include the re-establishment of the co-operative development unit, a more precise and inclusive definition of a co-operative, a statutory requirement of an asset lock, an optional requirement of a mission lock, the collation of disaggregated data on cooperatives and the provision of further resources to LEO’s to support co-operatives in their establishment and growth.”
“The Joint Committee look forward to further engagement on the Bill and I hope that when enacted it will be an important and significant reform of the co-operative sector,” he said.
