Dáil Éireann Debate, Tuesday - 7 July 2026
318. Deputy Roderic O'Gorman asked the Minister for Enterprise, Tourism and Employment for an update on the commitment to progress the General Scheme of the Co-Operative Societies Bill 2022; when he expects this bill to be introduced to Dáil Éireann; and if he will make a statement on the matter. [51735/26]
Amharc ar fhreagraMy Department is working to finalise the Co-operative Societies Bill, which provides for the most far-reaching reform of the legislation governing co-operatives in the history of the State. The Bill will introduce a modern legal framework which will place the co-operative model on a more favourable and clearer legal basis. It will create a level playing field with the situation applying to companies and encourage the consideration of the co-operative model as an attractive formation option for entrepreneurs and also for social and community activities.
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.
The Bill includes provisions to make it easier to set up and operate a co-operative society by reducing the minimum number of founding members (from seven to three); expanding the categories of founding members to include bodies corporate; and providing for audit exemptions for smaller co-operatives. The legislation will also repeal the existing outdated provisions on raising funds, which will make it easier to access various sources of finance.
In recognition of the significant diversity across the co-operative sector, the Bill seeks to provide as much flexibility as possible, thereby empowering co-operative societies to reflect in their rules what best suits their own particular circumstances.
This is a large and complex Bill currently running to over 470 sections. My officials are working closely with the Office of the Parliamentary Counsel to complete a quality assurance exercise and finalise drafting in the coming weeks. I then expect to be in a position to bring the final Bill to Government in the Autumn for publication and with a view to progressing through the Oireachtas as soon as possible thereafter.
