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PARLIAMENTARY
COMMITTEE
Peter D. M. Prentice,
Chairman
William B. Allen
Bruce St. J. Blake
John B. Jermyn
Francis J. Lanigan
Raymond T. Monahan
John J. Nash
Patrick Noonan
Patrick E. O'Connell
James W. O'Donovan
Robert McD. Taylor
6.1 The function of the Parliamentary Committee is to study the pending legislation coming
before the Oireachtas and to make recommendations to the Council. The year just passed has
been one of very considerable activity, especially in relation to financial legislation.
6.2 The Committee during the year considered the Criminal Law Jurisdiction Bill 1974
resulting in comments by the Society being sent to the Minister for Justice and the Attorney
General. The January 1975 Budget was considered and the implication of the cessation of
Death Duties, the Capital Gains Bill, Wealth Tax Bill, and the Capital Acquisition Tax Bill
were major items dealt with by the Committee and referred on to the Council and resulted in
deputations to the Revenue Commissioners and to the Minister for Finance which resulted
in one instance in a modification of the Return to be required by the Revenue Commissioners
in respect of Capital Gains.
6.3 Also considered and reported upon during the year were the Mergers Bill 1974, the Town
Planning Bill 1974, the question of possible pending Landlord and Tenant legislation and the
Wild Life Bill 1975.
6.4 The Committee acknowledges with grateful thanks the able assistance and advice which
it received throughout the year, not only from individual members of the Council but from
other members of the profession, and your contribution especially in respect of the taxation
legislation was especially valuable.
Peter D. M. Prentice,
Chairman
FINANCE
COMMITTEE
Gerald Hickey,
Chairman
Walter Beatty
Peter Murphy
John J. Nash
Peter D. M. Prentice
7.1 The audited income and expenditure accounts and balance sheet of the Society for the
year ended 30th April, 1975 are now available.
7.2 The book value of the Society's net assets at the balance sheet date was £312,215 an
increase of £12,000 on last year. This sum does not include any figure for the premises at the
Four Courts or any possible surplus of current value over cost for the property at Blackhall
Place.
7.3 The Society had a surplus on income and expenditure account for the year of £18,000
against £48,000 last year but in 1976 will run into deficit, for the first time for many years,
mainly due to the expenses of commencing our long term plans for Kings Hospital.
7.4 The Society is, therefore in a healthy financial position at the present but will begin to
incur heavy expenditure commencing next year, if it is to maintain the standard of its existing
services to members and to improve and extend the range of such services wherever possible
and also to carry out its various Statutory and Educational obligations. The Chairman
emphasised at the Spring half yearly meeting in Westport that members will almost certainly
have to face very much higher subscriptions in the coming years.
7.5 Lastly, the Compensation Fund was in a very satisfactory state at the 30th April, 1975.
This fund is, of course, completely separate from the Society's assets and the Society is obliged
by statute to maintain it as a separate fund. The fund provides full indemnity to members of
the public who suffer loss as a result of defalcation by any practising Solicitor. As at the 30th
April, 1975 the fund stood at £412,260 which is a satisfactory figure by any standards. Payments
from the fund in respect of ascertained losses and other expenses during the year amounted
to £43,160.
Gerald Hickey,
Chairman
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