The Gazette 1980

GAZETTE

JULY-AUGUST

double that figure. In those days I could Fill the tank in my

car for £3.00. It now costs me £15.00. I could heat my

office for £300 a year. Using a lot less oil now, it costs me

over £1,200 a year. During those eight years there has

been a vast increase in the cost of stationery, postage,

telephone charges, lighting, rents and all the other

overheads that are routine to running a business. The last

general increase that this profession received in fees was

eight years ago. On the 20thSeptember 1978, we filed an

application with the Prices Commission for adjustment in

Court costs, and no action whatsoever has been taken

by the Commission in relation to our application.

Professor Lees headed an enquiry into solicitors'

remuneration and he received every assistance from this

profession. The findings were by and large fair, and, with

one or two exceptions, were acceptable. His findings were

not implemented by the Prices Commission, nor by the

Department of Justice. So, we have had the expense of a

lengthy enquiry paid for out of State funds and the

disullusionment of the members of the profession

throughout the country, who gave many hours of their

time in assisting the enquiry on a voluntary basis.

REPORTS IGNORED

"The all to frequent failure to implement the many

reports which have issued from voluntary boards are are

a cause of concern. If this practice continues it will

become very difficult to find first-class people to serve on

Boards in the future. Apart from the Pringle Report of

Civil Legal Aid, many worthwhile reports have been

submitted by the Committee on Court Practice and

Procedure, and reform here is long overdue. Nothing has

been done to implement these reports, and our Courts are,

therefore, not able to function as they should.

The Law Reform Commission was established in 1975

and working papers have been published to deal

with a number of subjects. There is a great

need for reform of the law in this country in a

practical way. There are many instances where out-

moded practises still exist, and where fines and other

statutory money figures are quite ludicrous. "I would

urge the Department of Justice to get down to it, and to

bring in legislation swiftly to cure such anomalies as

exposure to being made bankrupt for £40, which was

fixed by statute when Queen Victoria was still a young

woman. Another example is Section 49 of the Civil

Liability Act 196 1, which fixed the limit on compensation

for distress in fatal injury cases at £1,000, a figure that

had same meaning then but has none now. An indexing

formula should be introduced in all statutes in future, so

that money values will keep pace with inflation."

R. W. RADLEY

M.Sc.

, C.Chem., M.R.l.C.

HANDWRITING AND

DOCUMENT EXAMINER

220, Elgar Road, Reading, Berkshire, England.

Telephone (0734) 81977

RETIREMENT

FUND

GROWTH

There was an increase in the membership of the

Society's Retirement Annuity Plan during the past year,

but the committee believes that the comparatively slow

growth is due, in part, to the age imbalance of the

profession where half the members are still concentrating

on developing their careers and not interested in

retirement.

The Retirement Annuity Plan is operated on a unit

basis. The initial (1975) unit was lOOp (97.59 after the

administration charges); on March 1 last the unit value

was 21 1.03p — a gain of over 11 lp free of tax since the

inception of the Fund. The Fund valuation on March 1

last was just over £950,000, by the end of April — due

to the subscriptions received to that date — the total

Fund reached £1.13 million.

The first property investment was made during the past

year; further such investments will be made, as

appropriate. In the meantime the Fund continues to be

invested in Irish and UK gilts and equities.

The associated Life Assurance Plan is commended to

the younger members of the profession; it is organised

through the New Ireland Assurance Company Ltd. at

very competitive rates.

Since April 6th last premiums payable under the

Income Continuance Plan are fully allowable against

personal tax, under Section 8 of the 1979 Finance Act.

Benefits, however, once tax relief has been granted on the

premiums will be taxable under PAYE at source, the

underwriting company acting as a subsidiary employer.

Solicitors who are self employed, can apply for an

exclusion order under Section 125 of the 1967 Income

Act, and once an exemption has been granted, any

claims payments will be brought into the individual's

accounts and charged as part of business profits.

This tax relief should be an added incentive for

solicitors who have not yet joined the Income

Continuance Plan, to become mambers and avail of the

protection provided.

Negotiations were successfully concluded during the

year, which increased the maximum cover available from

£15,000 to £520,000, provided this amount does not

exceed 75% of annual remuneration less a single person's

basic disability entitlement, if applicable. Also, the

exclusions relating to suicide and alcoholism have been

removed, the only siginficant exclusion remaining is the

war risks clause.

The Committee, in its report, thanked the Trustees —

Mr. E. M. A. Cummins and Mr. J. Power, Trustee

Department, Bank of Ireland; Mr. D. Harvey Kelly and

his colleagues in the Investment Bank of Ireland; Mr.

John O'Connor, Solicitor, and the Society's Finance

Director, Mr. P. J. Connolly, who audits the Fund.