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be
represented at discussions between central
organisations representing employers and workers.
"The message of the report," says the F.U.E.
statement, "is concerned with the urgent need
. to bring about a closer relationship between in
creases in incomes and productivity. This is a
principal objective of the F.U.E. It accords with
both the national interests and the interests of
F.U.E. member-companies".
The statement continued: "The current dis
cussions between the F.U.E. and the I.C.T.U on
the economic situation and future wage and
salary policy may be regarded as a significant
move
towards
the general introduction of the
N.I.E.C. proposals. The scope of these discussions
will shortly be extended to bring in representatives
of other I.E.C. organisations.
Industrial relations
"The problems of implementing an incomes
policy cannot be divorced from the larger diffi
culties of industrial relations in this country. This
is the reason why F.U.E. nominees on the N.I.E.C.
submitted an addendum to the N.I.E.C. report.
The addendum calls for a renunciation of force as
a means of resolving management-labour prob
lems.
"Many employees as well as employers are fed
up with strikes, lock-outs and the continual threat
of them. They jeopardise the viability of com
panies and seriously affect
the earnings and
security of employees—even employees who are
not directly involved in them.
"The time has come for the trade unions to
state what kind of independent and impartial body
they would agree to submit disputes to for final
settlement", the statement added.
The Confederation of Irish Industry in a state
ment, said that it endorsed the general principle
of the need to bring more order into the present
chaotic situation of spiralling wages and costs.
"Industry's main preoccupation is to keep price
levels down. This is particularly important in the
face of the Anglo-Irish Free Trade Area Agree
ment, the rise in imports and the need to improve
Irish export performance", the statement said.
BANK STRIKE
The Solicitors' profession in common with other
sections of the community, have been seriously
inconvenienced by the current bank strike, in the
transaction of clients' business, particularly com
pletion of sales.
The Council considered the
question and were unable to accede to any sug
gestion
that
the provisions of
the Solicitors
Accounts Regulations should be relaxed. These
are statutory provisions and are mandatory upon
the Society and the profession. The Council at
their meeting on April 30th, made the Solicitors
Accounts (Amendment) Regulations 1970 author
ising solicitors who were in a position to do so to
open client accounts in associated banks in the
United Kingdom and Northern Ireland listed in
the schedule to the new regulations. Unfortunately
the banks suspended operations and closed down
on the date when the regulations were made so
that the new provisions will be of little value to the
profession insofar as the existing client accounts
are concerned. Members who received new clients'
money in cash or in any other form acceptable to
the banks for lodgment can avail of the new
regulations subject to agreement with the banks
concerned. The existing Solicitors Accounts Regu
lations apply to any account opened in Great
Britain or Northern Ireland as they apply to
existing current or deposit client accounts in Irish
banks.
Apart from
the foregoing the following are
possible alternatives open to members on com
pleting sales.
1. The vendor might hold the title deeds under
an equitable deposit pending clearance of
the purchaser's cheque when
the bank
strike ends with an undertaking that they
will remain in the custody of the vendor's
solicitor under an
irrevocable authority
from the vendor pending completion.
2.
The vendor's solicitor might hold the title
deeds pending completion with a mortgage
back or charge
to
secure
the purchase
money.
3.
In some cases part of the purchase money
consists of a cheque from a building Society
or
insurance company which could be
negotiated direct to the vendor or in land
registration cases
the
transfer could be
registered with a contemporaneous charge
for the purchase money pending clearance
of the cheque in due course.
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