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INCORPORATED LAW SOCIETY OF IRELAND
GAZETTE
Vol. 77. No. I.
JANUARY/FEBRUARY 1983
In this issue
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C o m m e n t
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comment
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• • •
Keeping Better Company
T
HE recent statement by the Minister for Trade,
Commerce and Tourism that his Department were
the Irish Church Act, íoov
D
preparing legislation to be introduced before the end of the
year to reform Irish Company Law will not have assuaged
the many critics from a broad spectrum of public and
General Valuation Dept
9 financial interest who have been pressing for reform with
increasing urgency. The principal aim of the proposed
legislation is apparently to protect the interests of workers
Solicitors' Remuneration General Order, 1982
10
i n c o m p a n
j
e s w
h i
c
h fail — in implementation of an EEC
directive. It is to be hoped that the legislation will, when it
is introduced, be seen to be of a more comprehensive
Annual General Meeting, 1982
11
nature than this. Whatever pressure the Department may
be under to implement EEC directives it is more urgent to
try to cure the more obvious defects in our present
Tax Implications of Marital Breakdown
15
Company Law. Lack of opportunity will be no excuse as
the Department will be introducing Bills to implement
both the second and fourth company law directives within
Correspondence
19
^
n e x t t w d v e
m o n t h s
The protection of the interest of workers in failed
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enterprises is clearly a laudable aim. So too would be
Revised Income Tax Appeal Procedures
20
e n h a n c e d p r o t e c t i o n f o r o r d i n a r y cred
itors even if this
means the dilution of the rights of secured creditors or the
_
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.
.
T f
0
,
State in its capacity as a preferred creditor. It has been
Professional Information
21
^ ^ ^ ^ ^ ^
p a g e s
^
^
p r o t e c t i o n
^
tQ
secured creditors has encouraged such creditors to take
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oo
too httle interest in the day to day running of their debtor
Acts of the Oireachtas, 1982
22
J
J
°
companies. It also appears, that the Revenue
Commissioners have been less than zealous in their
E x e c u t i ve E d i t o r:
Mary Buckley
collection of taxes, including V.A.T. and P.R.S.I.
Editorial Board:
Charles R. M. Meredith, Chairman
contributions in particular, from companies which have
cu i i unai
D u n
subsequently failed. Reliance on their preferred status has
John F. Buckley
proved misplaced in many cases, only the secured
Gary Byrne
creditors recovering anything.
William Earley
"Using the Revenue as an extra Bank", has become too
v rvx/i h
common a saying about failed Irish companies.
Michael V. O Mahony
Another great mischief which requires to be tackled is
Maxwell Sweeney
the ease with which those who control companies which
Advertising:
Liam Ó hpisin, Telephone 305236
have collapesed under suspicious circumstances leaving
substantial debts are able to set up again in business
through the medium of a new company. Persons who have
had a significant element of control over companies which
The views expressed in this publication, save where
h a v e s o co
llapsed, should not be permitted to play any
other-wise indicated, are the views of the contributors
significant part in the promotion of or serve as a director to
and not necessarily the views of the Council of the
any new company for a period of, say, 5 years afterwards.
Society.
It was disappointing to hear Mr. Lawrence Crowley the
well known Receiver and Liquidator in advocating
Published at Blackhall Place, Dublin 7.
(Continued on P. 18)
3