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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
co-operative societies, would lead to a tremendous lot of trouble, and it is a thing for which, if the...When this Bill is passed, the ruling body or committee, I suppose, of this co-operative society will...This Bill enables the society to issue debentures and to give an outside lender a right of action against...It enables them to come in now where the society had no right to issue debentures....It is a talk between some manager or representative of the society and some official of the Agricultural
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Debate: Dáil Éireann
https://www.oireachtas.ie/en/debates/debate/dail/1934-07-19/24/
19 Jul 1934 -
Aiken They are agricultural co-operative societies....This Bill aims at giving legal sanction to what was an honourable understanding, and, I would say to...what was a legal binding contract in the ordinary way between the Agricultural Credit Corporation and...the co-operative societies who have got money from them....Deputy Dillon said that this Bill might involve the unfortunate shareholders in a liability they never
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
made by an agricultural co-operative society under this section unless and until a resolution approving...Sub-section (1) of the section reads:— (1) An agricultural co-operative society which is authorised...issue of debentures by the societies....shall be made by an agricultural co-operative society under this section unless and until a resolution...As far as I know, what the societies want is leave to issue debentures.
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
Ryan The point I want to make is that in the drafting of the main Co-operative Bill we have been in...consultation with various advisers, if you like to call them that, of the co-operative movement....We have consulted many times with those who have been in charge of the co-operative movement for the...for the issuing of these debentures....Societies to take on this duty and he refused.
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Debate: Dáil Éireann
https://www.oireachtas.ie/en/debates/debate/dail/1934-07-19/24/
19 Jul 1934 -
Aiken That is an extract from an agreement between a co-operative society and the Agricultural Credit
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
Minister for Agriculture (Dr....Hogan, and I have carried out an identical policy with regard to creamery development as far as the co-operative...We have tried to make all the creameries in the country co-operative and every attempt by a proprietor...to get any foothold, or any hold whatever, on a co-operative society has been resisted as far as we...way out which an individual would have would be to get some co-operative society to take over the creamery
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
Notwithstanding anything contained in any other enactment, the Registrar of Industrial and Provident Societies...shall not register any alteration of the rules of an agricultural co-operative society which, in his...opinion, effects any change of or variation in the objects of such society, unless such alteration has
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Debate: Dáil Éireann
https://www.oireachtas.ie/en/debates/debate/dail/2020-07-14/22/
14 Jul 2020 -
formation and general operation of industrial and provident societies, primarily co-operatives, in Ireland...The purpose of the Bill is to consolidate the existing industrial and provident societies legislation...and the report on the Private Members' Industrial and Provident Societies (Amendment) Bill 2018 prepared...The Bill will, among other issues, provide co-operative societies with a distinct legislative identity...reflecting the co-operatives' ethos, revise the provisions on debentures, introduce audit exemptions
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
point raised by the last Senator, under the definition section a bacon factory would come under this Bill...is nothing in the Bill to say that the lender of the old debt must accept the debentures....When a general meeting approves of the issuing of debentures, societies are thereby authorised to do...If that wording was not in this Bill perhaps four general meetings would be required....Every member of a society has a voice, and no debentures can be issued unless the majority of the members
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
The reason why the words "whether the issue of debentures is or is not authorised or is or is not forbidden..., no solicitor or barrister would have provided for power to the society to issue debentures....A society may or may not give power to its committee to borrow....society, irrespective of this Bill....debentures without consulting the members.
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
Jameson Would it not be better to leave it out for the present until the final Bill is brought in, because...You are taking away from these societies the right of issuing debentures which might be very useful....issue debentures if they find it necessary, and then, when you get the proper officials appointed under...your final Bill, let that go in?...This is only a temporary measure and it seems a pity in the meantime to take away the right from the societies
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
society will have to concur in the issue of these debentures before the certificate of the Minister...If that is to be the expectation, then agricultural co-operative societies are going to be segregated...We all think that we understand what an agricultural co-operative society is, but in future we shall...not understand what an agricultural co-operative society is unless we have some evidence that it is a...If the proposed Co-operative Bill is going to set up a special registrar whose functions will be very
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
The section reads "whether the issue of debentures is or is not authorised or is or is not forbidden...by the rules of such society..."...whose rules forbid the issue of debentures by the committee....I take the view that if the Legislature is coming in with a Bill to deal with such a case, at any rate...where the rules forbid a society from issuing debentures, then in such a case the shareholders should
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
I would point out to the Minister that the matter has become practically an issue under this Bill....Hitherto such societies were unable to raise debentures at all....lender might say to the society: "If you do so I will put the society into liquidation."...In such a case the Minister may decide that it would be better to allow the society to issue debentures...to an individual than to break up the society.
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
As Senators can only speak once on the next stage of the Bill, I think that those who are interested...The Minister said, in effect, that a society might be quite solvent and yet need power to issue debentures...If a society is quite solvent it is quite solvent, and the power to issue debentures has nothing to do...A society might protect itself....should bear that in mind in any amendment that he may be prepared to accept on a later stage of the Bill
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-29/4/
29 Aug 1934 -
If he accepts what I say, then we can deal with this question of debentures solely....If this Bill goes through, as drafted, these committees will be able to issue debentures without consulting...On the other hand, some of the societies which have asked for this Bill are in rather a precarious position...are quite solvent, if they get the chance to issue debentures....The publicity of the meeting may ruin some of these societies.
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-08-22/11/
22 Aug 1934 -
I am afraid that if we were to sanction an individual getting debentures we would be, as it were, giving...We told him he must get rid of it either to the co-operative society or to some other society.
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Debate: Dáil Éireann
https://www.oireachtas.ie/en/debates/debate/dail/1979-05-03/13/
3 May 1979 -
things, the need for new legislation to govern the operations of agricultural co-operatives....(Amendment) Bill, 1978 on 11 October 1978....code which governs the operations of agricultural co-operatives....co-operatives....In particular it updated accounting requirements for societies, including agricultural co-operatives,
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Debate: Seanad Éireann
https://www.oireachtas.ie/en/debates/debate/seanad/1934-09-05/3/
5 Sep 1934 -
If a committee of a society has now the right to issue debentures without calling their shareholders...together, I do not think that this Bill is intended to interfere with that....I only came into the matter where the Bill introduced something new.
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Debate: Dáil Éireann
https://www.oireachtas.ie/en/debates/debate/dail/1934-08-01/16/
1 Aug 1934 -
authorise payment out of moneys provided by the Oireachtas of any expenses incurred by the Minister for Agriculture...in carrying into effect any Act of the present session to empower certain societies registered under...the Industrial and Provident Societies Act, 1893, to issue debentures, and to borrow money on the security
