The society mentioned by the Deputy is registered under the Industrial and Provident Societies Acts, 1893 to 1978, which provide for registration and supervision of co-operative societies by the Registrar of Friendly Societies. Under this legislation, the registrar can only become involved in the affairs of a registered society when requested to do so by a specified number of its members. I am informed that, in this case, no such request has been made to the registrar.
I understand that the Minister for Agriculture and Food, in replying to an earlier question by the Deputy on 30 November 1989 — Dáil Question No. 5 — indicated that efforts are being made by all parties involved to achieve a satisfactory solution. I understand that delicate negotiations are still proceeding.
Regarding the question of bonding being required of such societies, I understand that there are certain provisions applying in relation to a licence granted under the Livestock Marts Act, 1967, which is the responsibility of the Minister for Agriculture and Food. The society must also be licensed under the Auctioneers and House Agents Acts, 1947 to 1973, and, in this context, must maintain a deposit of £10,000 in the High Court which may, on application, pay a judgment debt from that deposit.