GAZETTE
JULY-AUGUST
1
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.
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