Dáil Éireann Debate, Tuesday - 9 April 2024
386. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment for an update on the Cooperative Societies Bill 2022; when drafting is expected to be completed; and if there is a timeline for the legislation; and if he will make a statement on the matter. [14936/24]
Amharc ar fhreagraMy Department is continuing to work closely with the Office of the Parliamentary Counsel in relation to the drafting of the Co-operative Societies Bill 2022. 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.
Due to the length of the Bill and its complex nature, it is not envisaged that drafting will be finalised and the Bill brought to Government for publication until end of Quarter 2 of this year. There has been strong support for modernising the legislation governing the co-operative model and my Department has continued to engage with relevant stakeholders to develop the Bill. Once the Bill is published I look forward to the support of Members of both Houses with a view to facilitating early enactment.
