The Gazette 1977

MAY-JUNE

GAZETTE

Premises Mrs. Quinlan reported on developments to date in Blackhall Place and in Solicitors Buildings, Four Courts. It had been decided to defer a deicsion on the development of the Chapel area (Stage III) for the time being but to proceed with the provision of overnight accommodation. Mr. Pierse thought that the only appeal to the country man would be the availability of overnight accommodation and he wondered if the 6 rooms proposed would be sufficient. In reply to a query from Mr. B. O'Connor, Mr. Hickey explained that in commencing the work the Society had £200,000 in hands together with a 7-year term loan of £250,000 and it hoped to realize about £175,000 for the sale of part of Solicitors' Buildings. The total cost of the project in Blackhall Place would be between £600,000 and £700,000. Mr. Hickey then introduced Mr. John Connolly, Development Director, to the Meeting. Mr. Connolly detailed the Fund Raising Project and his approach to it for the members and dealt with queries raised. Concluding his comments, Mr. Connolly, thanked the Bar Associations and the individual members for the manner in which they had received him. Mr. Osborne explained that when the previous proposal had been circulated to the profession, it provoked an adverse re-action. The revised proposal which had now been circulated had been worked out in consultation between the Institute and representatives of the Society. The opportunity afforded by the General Meeting was being used to test the feelings of the members in regard to the proposal. In the discussion which followed reference was made to the increased responsibility being placed on members. The general reaction of the members was that any scheme which did not provide for the deposit being held by the solicitor, would not be acceptable. Members commented adversely on the growing practice of seeking substantial booking deposits prior to contract where the clients interest was completely unprotected. At the conclusion of the discussion the meeting decided that the proposal be referred back to committee for further consideration and Mr. Osborne and the Director General presented a comprehensive report on the situation. In answer to those members who urged an early application for the revision of District and Circuit Court costs, it was explained that the Costs Committee had decided to defer making such an application, until the Commission had disposed of the Society's submission (already made) on the many unacceptable and incorrectly based arguments and conc l us i ons contained in the Consu l t ant 's Recommendations and in the Commission's Report by reason of the importance of these points in the establishment of a proper base for the assessment of increases in fees now and for the future. Mr. Crivon stressed the need for urgent action, since after paying staff and other overheads, members had little left for themselves and that remainder was decreasing rapidly. He considered that the Society should be far more (concluded on page 80) 77 Irish Auctioneers & Valuers Institute: Joint Auctioneer - Solicitor Action on Sales: report in light of the points discussed. National Prices Commission Inquiry:

inception has been exceptionally satisfactory. In brief, the unit cost at inception, after expenses, was 97.5Op and was valued at the 1st March last at 127.05p. This indicated a gain over the two year period of 29.5 5p free of tax, which averages out at just under 15p per annum. Least satisfaction can perhaps be expressed on the number of members participating in the Funds. While there has been a satisfactory increase in the numbers joining the Fund and a sizeable upsurge in interest and enquiries received from prospective members, there are many others who are not forthcoming, at this juncture at least. Members of the Society will be aware of the efforts being made to encourage mambers to participate, and it is hoped that the success of the Scheme and the achievements reported on will lead to support from a wider selection of members as soon as their commitments permit. So that all members will fully appreciate the advantages of the Scheme, it is intended that officers of the Society in association with the Trustee, the Investment Bank of Ireland, will make an intensive promotion drive in the Autumn. Also, in view of the terms of this year's Finance Bill, it is of particular importance that members who have not yet settled their tax situation for previous years should discuss the possibility of participation in the Scheme with their accountants. The Life Cover option of the Scheme should be of particular interest to the younger solicitor, who at this stage possibly has large commitments and little resources. It is a facet of the plan which principals in practice might bear in mind when considering the remuneration of their assistants. Membership of the Income Continuance plan continues to grow steadily. The cover offered is vital to every Solicitor, but is particularly recommended to younger members of the profession who should take the opportunity of utilising the lower rates whcih are available at the younger ages. When one is disabled it is too late to effect disability cover, and the obvious time for action is when one is in good health. It should be noted that the Income Continuance Plan has been specifically designed for professional people, and contains many aspects of cover not readily available on the individual market. Concluding my remarks, I would like to express my appreciation to the Trustees in the person of Mr. Cummins, who is here with us today and Mr. Browne of the Trustee Department of the Bank of Ireland, the Investment Manager, Mr. Harvey-Kelly, Bank of Ireland, the actuary, Mr. Reddin and Irish Pensions Trust, in the person of Mr. Hoffman, who deals with the Income Continuance Plan. I would also like to thank Mr. P. J. Connolly, A.C.A., who has audited the accounts of the Fund. Education Programme: Mr. M. Curran, Chairman, Education Committee presented a detailed report on the Society's future educational programme due to come into effect on 1st September, 1978. He emphasised that under the new programme apprentice intake would be limited to 150 persons per annum and that discussions were proceeding with the University Colleges as to how this might be achieved, bearing in mind the need to provide lectures in the core subjects for non-law degree students. It is hoped to reach finality in the discussions with the University Colleges by the summer.