The Gazette 1976

J U NE/J U LY

GAZETTE

1976

In connection with this enquiry Professor Lees has written to all Firms to provide specific information on a confidential basis to enable him to construct his Report to the Commission. It is the earnest wish of the Council that the Firms and members of the Society do furnish at the same time to the Society's Auditors Messrs. Coopers & Lybrand, Fitzwilton House, Wilton Place, Dublin, a full and complete copy of the information given to Professor Lees so that the Society will be able to comment accurately and constructively on any in- terim or other Reports or occasional papers which may be issued by the Prices Commission from time to time. It is pointed out that the information supplied to the Society's Accountants will be treated on a strictly con- fidential basis. Taxation The revolutionary changes in the taxation system arising out of recent Legislation has also been engaging the attention of the Council, with particular reference to the obligations and responsibilities of Solicitors as accountable persons on behalf of their Clients. The Wealth Tax Act, 1975, the Capital Gains Tax Act, 1975, and the Corporation Tax Act, 1976, present a challenge to all of us including our friends in the Accountants' Profession in conjunction with whom we have had many discussions at Seminars and Conferences elucidating and discussing the many difficulties which are certain to arise, in the operation and implementa- tion of this Legislation. The abolition of Estate Duty from the 1st April, 1975 (Section 47 of Finance Act, 1975) and the sub- stitution of a Wealth Tax and a Capital Acquisition l ax in lieu thereof have created many difficulties for the Profession, such as the dismantling of Family In- vestment Companies, Discretionary Trusts and other non-trading Companies of a kindred nature causing concern in many domestic fields. It is hoped, however, that the Departments concerned will be ready and will- ing to introduce amending and ameliorative Legislation in all areas where justice and equity demand such a course, so that the burden of taxation may be equitably distributed amongst all citizens. Corporate Status I wish briefly to refer to this item, with particular reference to Section 162 of the Corporation Tax Act 1975, which was the subject of challenge by your Council and by a number of other Professional Bodies affected by this particular enactment. Briefly this Sec- tion is designed to deprive Professional Bodies such as ours from achieving Corporate status if such a course were permissable under the provisions of existing or some future Legislation amending the Solicitors' Acts. The Section in effect imposes the individual rate that is seventy seven per cent on such Professional Bodies instead of the fifty per cent rate applicable for the benefit of other Trading Institutions. Objection has been taken to this Legislation on the grounds that same is discriminatory and that it is competent for Solicitors and other Professional Bodies if they can so order their affairs to form themselves into Corporate Groups operating with perpetual succession and common seal in the like manner that Corporate status is available in all other areas of Industrial, Commercial and Sociolo- gical activity. It is contended that Solicitors and other Professional Bodies should not be deprived of Corporate status or the benefits of special taxation privileges avail- able to other Citizens or Groups of citizens in the State however so called. It is the intention to have this matter fully researched in your interests and subject 71

ORDINARY GENERAL MEETING T he President, Mr. P. C. Moore, took the chair on the occasion of the half-yearly meeting, which was held in the Mount Brandon Hotel, Tralee, Co. Kerry, on Saturday, 8th May, 1976, at 10.00 a.m. The notice convening the meeting was taken as read. The Official Minutes of the Annual General Meeting held on 27th November, 1975, which had been cir- culated beforehand, were confirmed and signed. Mr. Gerald Baily, President of the Kerry Law Association, welcomed the President and his guests and all members of the Society, to the Kingdom of Kerry. The appointment of the folluwing Scrutineers of the Ballot of the Council to be held on 21st November, 1976, was proposed by Mr. Bruce St. J. Blake, seconded by Mr. Rory O'Donnell, and passed unanimously : Messrs R. J. Branigan, Eunan McCarron, Brendan McCormack and R. J. Tierney. The President, Mr. P. C. Moore, then delivered his Presidential Address. PRESIDENT'S ADDRESS Ladies and Gentlemen : It is my privilege to report to you on the activities of your Council since my appointment to office in November last. As you are aware the Council is constituted of thirty one elected members with the addition of three Representatives of the Dublin Solicitors' Bar Association, five Representa- tives of the Southern Law Association, four Provincial Delegates and five Northern Ireland Representatives. The work of the Council is carried on through the medium of twelve permanent Committees, namely the (1) Registrars, (2) Compensation Fund, (3) Finance, (4) Parliamentary, (5) Privileges, (6) Court Offices and Costs, (7) Public Relations,'(8) Premises, (9) E.E.C. and International Affairs, (10) Policy, (11) Education and (12) Company Law Committee, and in addition ad hoc Committees are appointed for the purpose of under- taking research and investigation on particular topics with power to appoint; non-members of the Council who have special expertise in particular areas, with a voice but no vote. I wish as President of the Society and on behalf of the Profession to express our appreciation and thanks for the very valuable contribution which our colleagues have made as your elected Representatives as members of such Committees, and particularly to acknowledge their dedication and hours of service, for without them the effectiveness of the Council would indeed be ephemeral. I mention these matters, no doubt all very well known to you, in order that you may appreciate the work of the Council, some aspects of which I intend to refer briefly. A great deal of the work of the Council is of its nature continuous and evolutionary, and for this reason you are being updated on its activities. The enquiry being carried out by the National Prices Commission on Solicitors' Remuneration is still pro- ceeding and your Council has submitted a very com- prehensive Report for submission to the Commission in connection with the enquiry being carried out by Pro- fessor Lees and his Associates. My predecessor in office, Mr. Osborne, the Costs Committee and our Director Ceneral are to be complimented on the excellent job they have performed on behalf of the Profession in the compilation of this Report and it is a very valuable record worthy of being printed and circulated at the expense of the Society.