The Gazette 1958-61

person dying after the ist June, 1959 devolves on the personal representative in trust for the persons beneficially entitled. Rules 89-95 and the forms prescribed thereunder are designed to amend the former Rules 88-96 and the corresponding forms to meet this change. Rule 56 (3) has been amended by omitting the undertaking to procure the production of a land certificate for a dealing. In place of this, an application under Rule 163 for an order compelling production must be lodged with the application. Rule 155 has been included to give effect to the present practice of issuing photostatic facsimiles of the folios as land certificates. Practitioners should particularly note that Rule 98 of the 1937 Rules which allowed registration of the personal representative as such with an appropriate inhibition has been rescinded and in effect has been replaced by the present Rule 95 which allows the notation of the death of the registered owner as was the old practice prior to the coming into existence of the Land Registration Rules 1937. The other Land Registration Rules 1937 which have been amended or deleted are as follows :— Rules 19(1), 22(2), 32(1), 37(2), 48, 61, 67, 73, 76, 79(2), 82(3), 85, 97(2), 98(2), 100(1) and (2), 106, 124, 134 (i) and (2), 135(2), 16.0 and 178. Consequent modification in or deletion of the relevant Forms has also been made. COMPANIES ACT, 1959 The Companies Act, 1959 is a short measure of 12 Sections by which some of the more urgent reforms advocated by the Company Law Reform Committee will be met. Redeemable Preference Shares.— A company may, if so authorised by its articles, issue redeemable preference shares provided that (i) they are fully paid up, and (ii) that they are redeemed out of the profits of the company ; (iii) the premium payable .on redemption must have been provided out of the profits of the company, or, if applicable, out of the company's share premium account; a capital redemption reserve fund in accordance with the provisions of the Act should be built up, which should be a sum equal to the amount of the shares redeemed. The redemption of preference shares shall not have the effect of reducing the amount of the Company's authorised share capital—but the Company may issue shares up to the nominal amount of the shares to be redeemed ; this shall not increase the share issue for the purposes of stamp duty. Subject to penalties, there must be in cluded in every balance sheet of a company which has issued redeemable preference shares, a statement specifying what part of the issued capital of the com-

solely to the amount claimed, irrespective of the amount recovered, by a successful applicant. It was decided that this was a matter for the appropriate rules committee. Acting for both parties The Council considered a report from a committee on a suggestion from members that a regulation should be made under section 71 of the Solicitors Act 1954 preventing solicitors from acting for both parties in conveyancing matters. Member was advised that he could if he so wished put the matter down for discussion at a half yearly meeting of the Society. Retainer through a third party. Subsequent change of solicitor. Payment of costs. A purchaser who bid in person at an auction informed the solicitor for the vendor that Mr. X was his solicitor. Mr. X received the title and did some work thereon. Unknown to Mr. X, the purchaser on the day of the auction instructed Mr. Y, to act as his solicitor. Mr. X enquired whether in the view of the Council he was entitled to regard the com munication from the vendor's solicitor of his retainer by the purchaser as sufficient instructions. The Council on the facts before them were of the opinion that the retainer was sufficient. Mr. X also enquired whether in the view of the Council the second solicitor should see that his costs down to the date of change of solicitor were discharged before acting for the purchaser. The Council ex pressed the view that on the facts before them the second solicitor should see that Mr. X's costs are paid. LAND REGISTRATION RULES, 1959 S.I. No. 96 of 1959. The new Land Registration Rules came into operation on ist June, 1959. The Land Registration Rules 1937-1956 are thereby rescinded but rules 95 and 96 (and forms 44, 45 and 46 referred to therein) of the Land Registration Rules 1937 continue to apply in relation to the estate of any person dying before ist June, 1959. The rules may be obtained from the Government Publications Sales Office, G.P.O. Arcade, Dublin, price 5/6, postage 6d. The principal changes affected by the new rules are as follows :— The Rules consolidate and amend the Land Registration Rules 1937-1956 which have been rescinded except as provided therein. The main amendments have been made necessary by the enactment of the Administration of Estates Act 1959 which provides that all real property of any '4