The Gazette 1967/71

retirement. To the relatives and friends of all these former colleagues we offer our deep sympathy. Finance: The Accounts and Balance Sheet have been circulated and show that the increased sub scription has enabled us to cope with the con stantly increasing overheads but as I shall explain later when I speak about Kings Hospital we shall undoubtedly face even greater costs in the future. I must mention one other item in the Accounts. In the consolidated Income and Expenditure Account you will see an item "By Profit on sale of investments, £16,191." 1 think this encouraging figure is a tribute not only to our financial advisers but in particular to our Assistant Secretary, Mr. Healy, who suggested and operates our new financial policy. You will note that our investments have altered somewhat compared with the previous year. This is due to the fact that your Council on the recommendation of the Finance Committee had adopted a more active investment policy. Two main objectives were agreed, namely (1) to minimize losses and (2) to maximize profits. Last year this policy resulted in the sizeable surplus to which I have already re ferred. Markets go both up and down and while such gains may not be repeated every year you can rest assured that your Finance Committee shall endeavour to maintain and even occasionally exceed the standard set in the current year. The Society has three main assets (1) its mem bers, (2) its premises and (3) its investments. Con sidering our projected move to Kings Hospital and the very heavy capital and running costs in volved it is essential that all our assets be em ployed to maximum advantage if this Society is successfully to complete the project initiated two years ago. The Report: The report is very comprehensive and saves me from mentioning a number of matters which are fully dealt with therein and which you can read about at your leisure. I hope you will appreciate the new format and layout. Legal Aid: When I spoke to you six months ago I told you that the absence of full facilities for the defence made the position almost untenable for the in dividual Solicitor who was on the Criminal Legal Aid Panel. This remained the position when the report went to press. I was however glad to learn

recently, following a deputation which was re ceived by the Minister for Justice, that regulations giving effect to much more realistic fees and ex penses had been made to operate as from the 7th October 1970. I have no doubt that many mem bers of the profession will now remain on the Panel or have their names restored thereto and I understand that the Bar Council have decided to accept the new scale on a provisional basis. Insurance: The professional negligence insurance scheme of which I also spoke to you last May is pro gressing very well. The response so far obtained is satisfactory but I hope that more of you will join the scheme which is the fruit of long and patient work by the insurance brokers and Mr. Plunkett and the relevant Committee. Education: In 1961 our memorandum about education pointed out that this Council thought that the time had come when power should have been given to the Society to prescribe the whole system of legal education and training for the profession exercisable by statutory regulation subject to the approval of the President of the High Court. We propose that the Universities should continue to provide lectures on theoretical aspects of law. Indeed we suggested that a University degree should be a prerequisite for admission as an apprentice, that we should provide tuition in more practical subjects and that the student should spend two years as a full-time paid clerk in a socilitor's office before qualification. Our view was endorsed by the Commission on Higher Education and our draft of the necessary amend ing legislation was submitted to the Department of Justice and over a year ago was sent to the Higher Education Authority and the Department of Education for their comments. We still await these comments. This time last year Mr. Mc- Carron mentioned that he was sorry the amending legislations which was so dear to his heart, had not been passed before the end of his term of office and now here we are at the end of my term and no progress has been made. This is yet another example of the frustrations we experience in trying to implement our decisions. In about a month's time we shall get possession of Kings Hospital. We had hoped that we should have known by now what our needs in the educational sphere would be. I have already warned you that we should have to increase the annual subscription 129