S.L. 442.3 Art. 14Eligibility for funding by co- operative societies and recognised organisations.

(1) In accordance with regulation 13(1)(a) and (b), any eligible co-operative society or eligible recognised organisation applying for access to funds shall be in conformity with all of the following:

(a) a copy of the co-operative’s last financial statements; and

(b) a list of members, their identity card numbers, addresses and email addresses; and

(c) a list of the elected committee members; and

(d) a list of attendees at the last Annual General Meeting or a declaration by the committee that the Annual General Meeting was convened and held in accordance with the legislation and co-operative’s statute; and

(e) the co-operative society shall have made a minimum paid up contribution of two hundred and fifty euro (€250) of the last three financial years as determined by the audited financial statements filed with the Committee; and

(f) theco-operative societies’ and recognised organisations modified financial statements of the preceding two financial years shall not be seriously qualified by the co-operative societies or organisations auditor.

(2) The following shall be exempted from being in conformity with the requirements of regulation 14(1):

(a) a new co-operative with three complete years or less of financial operations;

(b) a co-operative for social or community benefit that is a social enterprise.

(3) The requirements in regulation 14(2) may be reviewed every three calendar years by the Board.