301 / 462
GAZETTE
SEPTEMBER 1992
facilitates the examination of a
company's prospects, it is consistent
with the positive aspects of the
Act.
•
Notes
1. Under Section 5 of the Act the
protection period commences with
the presentation of the petition.
2. Rules of the Superior Courts,
Statutory Instrument 147, 1991,
Order 75 A, Rule 5.
3. In
re Atlantic Magnetics Limited
(Under the Protection of the Court)
Supreme Court, unreported 5
December, 1991 (hereafter referred to
as "Atlantic Magnetics").
4. McCarthy J especially.
5. High Court, unreported 15 November,
1991
ex tempore
(Lardner J).
6. With whom Hederman, Egan and
O' Flaherty JJ agreed.
7. With whom Egan J also agreed.
8. Section 15 (9).
9. Section 17.
10. At page 7 of the judgment.
11. Section 8 (3).
12. Re
Consumer and Industrial Press
Limited
[1988] BCLC 177. Re
Harris
Simmons Construction Limited
[1989]
BCLC 202. Re
Primlake (UK)
Limited
[1989] BLCL 735. Re
SCL
Building Services Limited
[1990]
BCLC 98.
13. See Hamilton P's analysis of the
absolute discretion granted to the
Court under section 24 (3) of the Act
empowering the Court to confirm as
it thinks proper proposals for a
scheme of arrangement in
Re
Goodman International,
High Court
28 January, 1991 (unreported).
14. At page 3 of his judgment.
15. Re
Consumer and Industrial Press
Limited
above.
16. Section 9 (3): Section 29.
17. Re
Primlaks (UK) Limited
above at
page 747.
18.
United Meat Packers
and associated
companies High Court 12 March,
1992 unreported
ex tempore
(Keane
J). A stay was refused in the
Supreme Court on March 13, 1992.
19. In
Atlantic Magnetics
a receiver had
been appointed on a Friday, but the
Examiner was appointed on Sunday,
two days later. Subsequent to this
decision, the examinership terminated
and the receiver moved back in.
20. See section 9 (2).
21. Re
Jetmara Teoranta,
High Court
unreported May 10, 1991 (Costello J).
22. Re
Selukwe Limited,
High Court,
unreported December 20, 1991
(Costello J).
23.
Re Wogans (Drogheda) Limited,
High
Court unreported May 7, 1992
(Costello J).
Tax Eff icient
Life Cover
Thx relief on life assurance policies
having been gradually reduced over
previous years was finally eliminated
completely in the most recent
budget.
However, many people may not be
aware of the fact that it is still
possible to obtain tax relief on life
assurance policies effected under
Section 235A of the 1967 Finance
Act. This means that for the 48%
tax payer the cost of this cover is
effectively halved.
This benefit is available to anyone
who is self-employed or in non-
pensionable employment. Relief is
restricted to premiums paid not
exceeding 5% of net relevant
earnings. Such premiums are also set
against the 15% limit allowed for
pension contributions.
As an example of the cost, £50,000
life cover to age 65 can be provided
from £12.00 net per month for a
male aged 40 and £7.50 net per
month for a female age 40 assuming
both pay tax at 48%.
N
.B.
A special non medical offer is
currently available to members of the
Law Society through Sedgwick
Dineen. Further details are contained
in the insert enclosed in this issue.
TURKS AND CAICOS ISLANDS AND
THE ISLE OF MAN
Samuel McCleery
Attorney - at - Law and Solicitor at PO Bo> 127 to Grand
Tuik.Turk» aid Caooe Itfatde, Bn«#i Waal In(See aid at 1
Casta Skeet, Caatetown, lata ol Man-wit be pleated to
aooapt Inetuctane ganaaly Irom triah Soldiers intoetar-
nation and admlnletratlon ol Exempt Turka and Calcoe
Island Companiaa and Non • Resident lele ol Man
Companies as wet as Trust Admtotskadcn
GTOtfice:-
1M:
909
»4« 2818 Fai: 808 »48 2B18
I.O.M.Office:-
1M: 0624 822210 Ttlai: 628285 Samdan G
Fax: 0624 823798
Secondhand
Safe
Required
Contact
- Box No. 18
AG Appoints Solicitor
Thomas Shaw
The Attorney General,
Harold A.
Whelehan
SC has appointed
Thomas
D. Shaw
to be his solicitor in
charitable matters with effect from
July 1, 1992.
Tom Shaw is a senior partner in the
firm of JA Shaw and Company,
Solicitors, Mullingar, Co. Westmeath.
He qualified as a solicitor in 1959
having been educated at St. Gerard's
School, Clogowes Wood College and
University College Dublin where he
graduated with a Degree in Civil
Law. Mr. Shaw is a former President
of the Law Society and has been a
member of the Council of the Law
Society since 1974, during which
time he has been Chairman of the
following Committees of the Society
- Registrar's Committee, the
Finance Committee and the
Insurance Committee. In addition he
was a founder director of the
Solicitors Mutual Defence Fund.
Mr. Shaw succeeds Gordon A.
Holmes, of Messrs. Holmes,
O'Malley and Sexton, Solicitors, who
has resigned following his
appointment to the Garda
Complaints Board. Gordon Holmes
is a member of the Rules Committee
of the Superior Courts, Chairman of
the Betting Appeals Board, and
Chairman of the Garda Disciplinary
Body. He acted as solicitor to the
former Attorney General, Mr. John
L. Murray, during his periods as
Attorney General since 1982 and has
acted for the present Attorney
General since his appointment last
Autumn.
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