The Gazette 1989

GAZETTE

pril

1989

New Bye-Laws Approved:

Progress of Retirement Fund

The considerable appreciation of

the Retirement Fund, established

by the Incorporated Law Society of

Ireland 14 years ago, was reported

to the Society's half-yearly general

meeting by Mr. Ernest J.

Margetson.

The meeting, held in the Hotel

Europe, Killarney, on May 5th 1989,

learned that the Fund now stands

at £12.25 million. Mr. Margetson

said that the value of the fund has

increased by 25% in the year

ended 1 March 1989 and the unit

value now stood at £244.355. The

investment performance over the

year was satisfactory and Irish

Equities did particularly well.

Overall,

the

return

was

substantially ahead of inflation.

Changes in the future operation

of the fund will provide for the

accounting year end to be 31

December with reports to members

at the end of January/early

February in each year. A cash fund

for consolidation of gains for mem-

bers who request this facility has

been established.

Membership increase

There was a satisfactory in-

crease in the membership of the

fund during the year with the age

profile being primarily in the 40 / 60

year bracket. The level of individual

contributions was increasing. To

develop participation further, the

Investment Bank of Ireland had

been appointed to undertake a

mar ke t i ng role amongst the

members of the Society. In this

context, the tax saving obtained

through participation in the fund

was highlighted.

For the future, the Income Con-

tinuance and Life Assurance

aspects of the fund will be handled

by Sedgwick Dineen.

The report and the accounts of

the Fund were adopted.

New Bye-Laws

The meeting unanimously adopted

the following motion which was

proposed by Mr. Michael V.

O'Mahony and seconded by Mr.

Francis D. Daly:

"That the Society's existing

bye-laws be rescinded and that

the draft Bye-Laws, approved by

the Council of the Society at its

meeting on 7th April, 1989, and

circulated to members, be here-

by ordained and made with

immediate effect."

Accounts show surplus

Mr. Ernest J. Margetson reported

that the Accounts showed a slight

surplus which was satisfactory,

bearing in mind that significant

legal costs had been incurred

arising out of actions in respect of

admission to the Law School. The

audited accounts will be debated at

the Annual General Meeting.

Scrutineers eppointed

The following were appointed

Scrutineers of the Ballot for the

Council for 1989-90:

1. Walter Beatty

2. Laurence F. Branigan

3. Terence Dixon

4. Andrew Donnelly

5. Eamonn Hall

6. Clare Leonard

7. John Maher

8. Donal O'Hagan

9. Peter Prentice

10. John Reidy

11. Roderick Tierney

12. Liam Young

Benevolent Associetion

The work of the Solicitors' Benevo-

lent Association was detailed by

the chairman of that body, Mr. John

O'Connor, who stressed its con-

tinued need for funds. He paid a

tribute to all the members who had

made special efforts to raise funds,

and particularly Mr. Frank

O'Donnell through his involvement

in the Mara-Cycle event, which had

raised a significant amount for the

Association.

Mr. O'Connor urged members to

maintain and increase their support

as the needs of claimants on the

Association continued to rise.

The Presidential Address of Mr.

Maurice R. Curran was received with

acclamation. A copy of the address

has been filed with the Minutes

and a summary was published in

the May issue of the

Gazette.

At the formal opening of the

meeting the Minutes of the Annual

General Meeting of the Society,

held in Blackhall Place on

November 17, 1988, which were

published in the Society's

Gazette,

were taken as read and signed by

the President.

The members of the Society and

members of Law Societies from

Northern Ireland and six overseas

jurisdictions - England and Wales,

Scotland, Belgium, Canada, USA

and Australia were welcomed by

Mr. Donal E. Browne, President,

Kerry Law Society.

•

Data

Protection

Act, 1988

The Council of the

Law Society wishes to

advise members that

they should not

hold on computer data

relating to:-

(a) Political opinions.

(b) Religious and other

beliefs.

health.

(d) Criminal

convictions.

(e) Sexual life.

(f) Racial origin.

209