Vol. 496 No. 6
108 Mr. J. Brady asked the Tánaiste and Minister for Enterprise, Trade and Employment if the audit by the friendly societies on Oldcastle Co-operative, County Meath, will be carried out without further delay; and if she will make a statement on the matter. [23915/98]
The Registrar of Friendly Societies is an independent statutory officer with powers under the Industrial and Provident Societies Act, 1893. Section 18 of the 1893 Act provides that the Registrar of Friendly Societies may, if he thinks fit, on the application of ten members of a society, appoint an accountant or actuary to inspect the books of the society and to report thereon. The section goes on to provide that the applicants shall deposit with the Registrar such sum as security for the cost of the proposed inspection as the Registrar may require and that all expenses of the inspection shall be met by the applicants or out of the funds of the society or by the members or officers or by former members or officers in such proportions as the Registrar may direct.
The Registrar of Friendly Societies informs me that he received a request on 5 October 1998, signed by ten members of Oldcastle Co-operative Creamery Limited, although the request was headed Oldcastle Co-operative Society Limited, in accordance with rule 6 of the society's registered rules and section 18 of the Industrial and Provident Societies Act, 1893, although the Friendly Societies Act was cited in the request. The Registrar was requested to appoint an independent accountant to inspect the books and affairs of the society. The request went on to specifically ask that: the inspection clearly identify any loss making sections of the society's business; clearly establish the ownership and value of all assets which are believed to form part of the society and to establish the actual milk price paid to suppliers to date during 1998.
Subsequent to receiving the request, the Registrar's office became aware that the request for the inspection arose out of a meeting of members of the society which had been held in September last at which an "action committee" was elected. Meetings were subsequently held between this committee and the committee of management of the society. The Registrar understands that the committee of management has agreed to resign en masse at the annual general meeting of the society in late November and to offer themselves for re-election.
