The Gazette 1955-58

Vol. 50 No. 10

APRIL, 1957

THE GAZETTE of the INCORPORATED LAW SOCIETY OF IRELAND

Sterttarj ERIC A. PLUNKHTT

Vice-Preiidents DESMOND J. COLLINS CHARLES J. DOWNING

PruUiHt NIALL S. GAFFNEY

FOR CIRCULATION AMONG MEMBERS

MEETING OF THE COUNCIL. MARCH ZIST: The President in the Chair. Also present: John R. Halpin, Desmond J. Mayne, John Carrigan, Henry St. J. Blake, P. R. Boyd, F. X. Burke, Ralph J. Walker, G. G. Overend, Reginald J. Nolan, Peter E. O'Connell, Thomas A. O'Reilly, Charles J. Downing, James R. Quirke, Joseph P. Tyrrell, Cornelius J. Daly, Derrick M. Martin, Dermot P. Shaw, George A. Nolan, Arthur Cox, Desmond J. Collins, F. J. Gearty, Scan O hUadhaigh, John J. Nash, John J. Sheil, Joseph Barrett, R. McD. Taylor, Terence de Vere White. The following was among the business transacted. District Court Rules Committee. MR. CECIL G. VANSTON Dublin was appointed as one of the Society's representatives on the District Court Rules Committee in place of Mr. Patrick F. O'Reilly who has resigned from the Council. Vacancy on the Council. MR, JOHN MAKER Dublin was co-opted from the

supplemental list to fill the vacancy caused by the resignation of Mr. P. F. O'Reilly.

Trustee (Authorised Investments) Bill 1956 THE Council considered a report from a Committee on the text of the draft Bill which was sent to the Society by the Department of Justice for observa tions. The bill proposed to alter the statutory list of authorised trustee securities, the main effect being to restrict the list in so far as it includes Government stocks to those issued in the State. It is proposed that deposit accounts in banks will no longer rank as authorised trustee investments. The Committee in their report stated that the bill if enacted might expose beneficiaries under settlements to the risk of depreciation of the trust investments by restricting the trustees to a more limited range of investments than the list which is available under the existing law. This consideration is particularly important in regard to funds in Court which under the Bill as drafted would have to be invested in trustee securities. The Committee 89