The Gazette 1973

"Improper Assents" Members wrote commenting on the article under the heading "Improper Assents in the Land Registry" in the March 1973 issue of the Society's Gazette. They stated that on the example of a deceased intestate leaving six next of kin and five of them signing an agreement for natural love and affection or for finan- cial consideration to transfer and release their interest in the lands to the sixth party it would have been necessary to execute, stamp and produce to the Land Registry a formal deed before the lands could be trans- ferred to the sixth party. They asked the Society to consider whether the legal personal representative is entitled to act on the agreement (which does not carry a stamp) and is sent to the sixth party to be registered as final owner. Must the personal representative insist on the legal transfer being entered into and stamped and would it be considered improper for the solicitor to act in connection with such assent in pursuance of such agreement which requires no stamp as distinct from a formal duly stamped transfer? The Council on a report from a committee stated that the correct course for a solicitor to take is to have a properly drawn up agreement of release and transfer under seal executed by all beneficiaries entitled to take who are transferring their portion of the estate to a fellow beneficiary whether for financial consideration or otherwise. It is wrong for a solicitor to lodge an "improper" assent. The Council received an enquiry from members as to whether there is any professional objection to sharing stockbrokers' commission following the integration of the Stock Exchanges of the Republic and the United Kingdom. Irish stockbrokers now follow the English practice of allowing a commission of 20% of the stock- brokers commission to solicitors and other persons placing business with them provided that the person taking the commission is included in the general register kept pursuant to Rule 212(2) (b) of the Stock Ex- change. There is only one Stock Exchange in England and Ireland of which the Dublin Exchange is the Irish unit and a common set of rules apply throughout. An applicant for inclusion in the general register applies on a form which may be obtained from the Stock Exchange and pays an annual registration fee of £10.50. Paragraph 3 of the form provides that no part of the commission shall directly or indirectly be re-

This is of particular importance in the case of voluntary releases as the standard form of requisition on title asks whether there were any voluntary transfers on title. A solicitor would be placed in a very troublesome predicament in answering this question in the event of a voluntary transfer by way of improper assent being effected and forming part of the title. Duty solicitors for cases in the Children's Court At the suggestion of a member it was decided to refer this matter to the Dublin Solicitors' Bar Associa- tion for discussion with practitioners in that Court. Second Irish examination It was decided to reverse a previous decision of the Council and that in future there will be two first Irish examinations yearly one in February and the second in July. District Court Rules Committee

Mr. Richard Knight was re-appointed as the Society's representative on the District Court Rules committee for five years with effect from 24th April 1973. Incorporated Council of Law Reporting Mr. John Buckley was appointed as one of the Society's representatives on the Council. SHARING STOCKBROKERS' COMMI SS ION

turned or allowed to the principal or any other person but this undertaking does not preclude the applicant from agreeing to waive in whole or in part the charges which he would otherwise be entitled to make for services rendered specifically and exclusively in connec- tion with the purchase or the sale of stocks or shares in respect of which such share of commission arises. The stockbrokers bought or sold note contains a state- ment that the commission is shared. The Council on a report from a committee decided that there is no objection to applications by solicitors for inclusion in the general register of the Stock Ex- change kept pursuant to Rule 212(2) (b) and accept- ing the commission, now 20% of the stockbrokers' commission in respect of business transacted on behalf of clients. All Stockbrokers in the U.K. and Ireland follow the same rules.

DUBLIN SOLICITORS' BAR ASSOCIATION The following matters were before recent meetings of the Council. (1) Registry of Deeds delays (2) Charging of Outlay by Builders to Purchasers' Solicitors

On a report from a sub-committee following their consideration of Counsel's opinion received by the Law Society on this question, it was agreed to make represen- tation to the Law Society and to the Department of Justice seeking an amendation of the provisions of Section 33 of the Landlord & Tenant (Ground Rents) Act 1967, so a s to oblige Lessors to furnish good marketable title to prospective House Purchasers, where the transaction is carried on by way of Lease, without any charge. 158

On a report from a sub-committee it was agreed to make representations to the Department of Justice for the employment of additional staff in the Registry of Deeds, including the appointment of an additional Assistant Registrar or Chief Clerk, to enable the regis- tration of documents to be completed more speedily and to enable the time taken for completing Negative Searches to be reduced from the present unsatisfactory period.