485 / 822
GAZETTE
SEPTEMBER 1988
Compan i es
( Ame n dme n t) Ac t 1 9 86
Se c t i on 17
This Section of the Act was de-
signed to enable subsidiaries of
parent companies within the EEC to
avoid the necessessity of filing
accounts w i th the Annual Return.
The Section sets out the procedures
which must be followed if a subsidi-
ary of an EEC parent company
wishes to avail of this exemption.
However, the actual wording of
the Section has caused consider-
able u n c e r t a i n ty b o th in t he
a c c o u n t a n cy
and t he
legal
profession.
Practitioners have raised queries
as to the nature and enforceability
of the guarantee required by the
legislation, the timing and the
wording of such guarantee.
A sub-committee of the Company
Law Committee have had a meeting
w i t h a s ub - c omm i t t ee of the
Institute of Chartered Accountants
concerning this matter and submis-
sions to the Minister for Industry
and Commerce are being con-
sidered.
In such submissions it is intended
to raise,
inter alia,
the following
points:-
1. The unsatisfactory position and
in particular, the enforceability of
the guarantee given;
2 . The time at which the guarantee
should be granted; and
3 . The actual wo r d i ng of the
guarantee.
As soon as further information is
to hand a further note will be
published in the
Gazette.
In the meantime, all solicitors
should exercise caution in the pre-
paration of such guarantees.
The Company Law
Committee
Company Law/Pub l i c ly
Quo t ed Compan i es
Practitioners acting on behalf of
Public Limited Companies which
have a quote on one of the markets
should be aware of the following:-
1. The Stock Exchange guidelines
in regard to the disapplication of
shareholders pre-emptive rights.
2 . The Irish Insurance Federation
guidelines (as equity investors)
on profit sharing and share
option incentive schemes.
Copies of these guidelines, if
required, can be obtained from the
appropriate bodies.
The Company Law
Committee
Hous i ng (Rent Tr ibunal)
Regu l a t i ons
The Minister for the Environment
has made regulations under the
Housing (Private Rented Dwellings)
Act, 1982 amending the provisions
in the Housing (Rent Tribunal) Regu-
lations, 1983, regarding the award-
ing of costs and expenses by the
Rent Tribunal.
The Rent Tribunal was established
in August, 1983 under Section 2 of
t he Hou s i ng (Private Ren t ed
Dwellings) (Amendment) Act, 1983
to replace the District Court as the
arbitrating body for determining
terms of tenancy of dwellings which
were formerly controlled under the
Rent Restrictions Acts.
The new regulations, known as
the Housing (Rent Tribunal) Regula-
tions, 1983, (Amendment) Regula-
tions, 1988, came into force on 1st
July 1988 and will apply to applica-
tions received by the Tribunal on or
after that date. The main provision
of the regulations allows the Rent
Tribunal to make awards in cases
where applications are determined
without an oral hearing. Formerly,
costs could be awarded only in
respect of oral hearings. Also, the
Rent Tribunal w i ll have more
discretion in making awards in any
case. The new provisions will ensure
a more balanced and equitable
treatment of parties in written cases
where, very often, costs similar to
those in oral cases are incurred.
Soc i al We l fare —
Oral Hear i ngs
The standard payment made to
solicitors w ho a t t end at oral
hearings will be increased to £30.00
from 1 October, 1988.
S t a t us of Ch i l d r en Ac t ,
1987
This Act was passed on 14
December, 1987, and Part V of the
Act came into operation on 14 June,
1988. The main effect of this Part
is to apply to the Succession Act,
1965 (Section 30) and to wills and
other dispositions (Section 27) the
general principle that relationships
between persons are to be deter
mined without regard to whether
any person's parents were or have
been married to each other.
The Land Reg i s t ry
wo u ld
appreciate that in drafting affidavits
for Land Registration applications
care
shou ld
be
t aken
by
practitioners to ensure that the
provisions of Part V of the Act are
complied with.
Local Gove r nment (Mu l t i
Storey Bu i l d i ngs) Ac t
1988
This Act has been passed by both
houses of the Oireachtas and is
most likely to become law in the
near future. It will become law when
the Minister for the Environment
makes a Commencement Order.
It is understood that the Com-
mencement Order will be made as
soon as the necessary Regulations
have been drafted.
This Act affects all multi storey
buildings which were not completed
on or before the 1st January, 1950.
"Mu l ti Storey Building" means a
building comprising five or more
storeys, a basement being regarded
Solicitors - how public are
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The problem of privaie consultations being over-
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masking, conversations are kept private and
confidential-a benefit lor both lawyers and their
clients - For lurther particulars contact:
Soundma sk i ng Ltd.
25, Harcourl St. Dublin 2. Tel: 780499/700037
2 45