161 / 262
"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.
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
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-
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
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.
(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