The Gazette 1967/71

be represented at discussions between central organisations representing employers and workers. "The message of the report," says the F.U.E. statement, "is concerned with the urgent need . to bring about a closer relationship between in creases in incomes and productivity. This is a principal objective of the F.U.E. It accords with both the national interests and the interests of F.U.E. member-companies". The statement continued: "The current dis cussions between the F.U.E. and the I.C.T.U on the economic situation and future wage and salary policy may be regarded as a significant move towards the general introduction of the N.I.E.C. proposals. The scope of these discussions will shortly be extended to bring in representatives of other I.E.C. organisations. Industrial relations "The problems of implementing an incomes policy cannot be divorced from the larger diffi culties of industrial relations in this country. This is the reason why F.U.E. nominees on the N.I.E.C. submitted an addendum to the N.I.E.C. report. The addendum calls for a renunciation of force as a means of resolving management-labour prob lems. "Many employees as well as employers are fed up with strikes, lock-outs and the continual threat of them. They jeopardise the viability of com panies and seriously affect the earnings and security of employees—even employees who are not directly involved in them. "The time has come for the trade unions to state what kind of independent and impartial body they would agree to submit disputes to for final settlement", the statement added. The Confederation of Irish Industry in a state ment, said that it endorsed the general principle of the need to bring more order into the present chaotic situation of spiralling wages and costs. "Industry's main preoccupation is to keep price levels down. This is particularly important in the face of the Anglo-Irish Free Trade Area Agree ment, the rise in imports and the need to improve Irish export performance", the statement said. BANK STRIKE The Solicitors' profession in common with other sections of the community, have been seriously

inconvenienced by the current bank strike, in the transaction of clients' business, particularly com pletion of sales. The Council considered the question and were unable to accede to any sug gestion that the provisions of the Solicitors Accounts Regulations should be relaxed. These are statutory provisions and are mandatory upon the Society and the profession. The Council at their meeting on April 30th, made the Solicitors Accounts (Amendment) Regulations 1970 author ising solicitors who were in a position to do so to open client accounts in associated banks in the United Kingdom and Northern Ireland listed in the schedule to the new regulations. Unfortunately the banks suspended operations and closed down on the date when the regulations were made so that the new provisions will be of little value to the profession insofar as the existing client accounts are concerned. Members who received new clients' money in cash or in any other form acceptable to the banks for lodgment can avail of the new regulations subject to agreement with the banks concerned. The existing Solicitors Accounts Regu lations apply to any account opened in Great Britain or Northern Ireland as they apply to existing current or deposit client accounts in Irish banks. Apart from the foregoing the following are possible alternatives open to members on com pleting sales. 1. The vendor might hold the title deeds under an equitable deposit pending clearance of the purchaser's cheque when the bank strike ends with an undertaking that they will remain in the custody of the vendor's solicitor under an irrevocable authority from the vendor pending completion. 2. The vendor's solicitor might hold the title deeds pending completion with a mortgage back or charge to secure the purchase money. 3. In some cases part of the purchase money consists of a cheque from a building Society or insurance company which could be negotiated direct to the vendor or in land registration cases the transfer could be registered with a contemporaneous charge for the purchase money pending clearance of the cheque in due course.

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