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g a z e t t e
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1982
Minutes of the Half-Yearly
General Meeting
T
HE Half-Yearly General Meeting of the Society was
held in Ashford Castle, Cong, Co. Mayo, on Friday,
7th May, 1982, at 10.00 a.m.
Having called the Meeting to order, the President called
on Mr Liam McHale, President of the Mayo Bar Associ-
ation, to address the Meeting. In his address, Mr McHale
emphasised the pleasure it was for him and for his col-
leagues in the Mayo Bar Association to have the opportun-
ity of welcoming the Members of the Profession to a Meet-
ing in Mayo. He was particularly pleased that for the
occasion, the Meeting should be presided over by a
President of the Law Society, who practised in the neigh-
bouring county, within the Province of Connaught. Con-
cluding, he wished the Meeting every success.
The President then extended a welcome to the Presi-
dents and Secretaries of the neighbouring Law Societies,
Mr Denis Marshall, President, and Mr John Bowron,
Secretary-General, the Law Society, London, Prof. Philip
Love, President, and Mr Kenneth Pritchard, Secretary,
The Law Society of Scotland and Mr Roderick Campbell,
President, and Mr Sydney Lomas, Secretary, The Incor-
porated Law Society of Northern Ireland.
Notice
The adoption of the notice convening the Meeting was
proposed by Mrs Quinlan, seconded by Mr F. O'Donnell,
and agreed. The attendance at the Meeting was recorded in
the Attendance Book. 70 Members attended.
Minutes
On the proposition of Mr Pigot, seconded by Mr
Margetson, the Minutes of the Annual General Meeting,
held in Blackhall Place, on 20th November, 1981, were
taken as read, and signed by the President.
Appointment of Scrutineers
It was proposed by Mr Hickey and seconded by Mr
Curran that the following be appointed as Scrutineers of the
Ballot for Council, for the year 1982/83:-
Messrs L. Brannigan, E. McCarron, A. J. McDonald,
R. T. Tierney, P. D. M. Prentice, J. R. C. Green, P. C.
Moore and G. Doyle.
Their appointments were agreed. The President expres-
sed the Society's appreciation to the Scrutineers for their
help to the Society.
President's Address
The President then addressed the Meeting. A copy of his
address is filed with the Minutes.
Retirement Annuity Fund and Income
Continuance Plan
Mr Curran, Chairman of the Finance Committee,
presented a report on the Society's Retirement Annuity
Fund and Income Continuance Plan. He reported that
membership of the Fund had increased and that by the end
of May, the Funds being managed would be in the region of
£2m. As with other Funds, performance in the past year had
not been as good as in previous years, due to the world
recession, resulting in very depressed investment market
conditions. During the year, the small percentage of the
Fund in equities had been reduced further and nearly 50%
of the Fund was now placed outside Ireland as a hedge
against a possible devaluation of the £IR and also against
the very high level of inflation obtaining in the country. The
unit value as at 1 st March, 1982, showed an annual average
gain, equivalent on cost price at inception, of some 23% per
annum. This gain was effectively free of Tax. In the case of
the I.P.T. Income Continuance Plan, Mr Curran reported
that a 7 Yi% discount on rates which would apply to existing
members ofthe Plan and new entrants, had been negotiated.
Negotiations were proceeding with the Underwriters on
increases in Medical Limits for the Plan and the result of
these negotiations would be announced to members in due
course. Mr Curran urged all members to take out this
particular cover as soon as they could afford to pay the
premium involved, since nobody had a guarantee of con-
tinuing good health.
Mr Brown, Westport, commended Mr Curran on the
report on the Fund, and on the financial details which had
been circulated to the Meeting. He asked that the question
of providing borrow back facilities under the Fund, be
considered and Mr Curran undertook to look into the
matter.
As there was no further business to discuss, the President
declared the Meeting closed. •
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