The Gazette 1975

6.1 The function of the Parliamentary Committee is to study the pending legislation coming before the Oireachtas and to make recommendations to the Council. The year just passed has been one of very considerable activity, especially in relation to financial legislation. 6.2 The Committee during the year considered the Criminal Law Jurisdiction Bill 1974 resulting in comments by the Society being sent to the Minister for Justice and the Attorney General. The January 1975 Budget was considered and the implication of the cessation of Death Duties, the Capital Gains Bill, Wealth Tax Bill, and the Capital Acquisition Tax Bill were major items dealt with by the Committee and referred on to the Council and resulted in deputations to the Revenue Commissioners and to the Minister for Finance which resulted in one instance in a modification of the Return to be required by the Revenue Commissioners in respect of Capital Gains. 6.3 Also considered and reported upon during the year were the Mergers Bill 1974, the Town Planning Bill 1974, the question of possible pending Landlord and Tenant legislation and the Wild Life Bill 1975. 6.4 The Committee acknowledges with grateful thanks the able assistance and advice which it received throughout the year, not only from individual members of the Council but from other members of the profession, and your contribution especially in respect of the taxation legislation was especially valuable.

PARLIAMENTARY COMMITTEE

Peter D. M. Prentice, Chairman William B. Allen Bruce St. J. Blake John B. Jermyn Francis J. Lanigan Raymond T. Monahan John J. Nash Patrick Noonan Patrick E. O'Connell James W. O'Donovan Robert McD. Taylor

Peter D. M. Prentice, Chairman

7.1 The audited income and expenditure accounts and balance sheet of the Society for the year ended 30th April, 1975 are now available. 7.2 The book value of the Society's net assets at the balance sheet date was £312,215 an increase of £12,000 on last year. This sum does not include any figure for the premises at the Four Courts or any possible surplus of current value over cost for the property at Blackhall Place. 7.3 The Society had a surplus on income and expenditure account for the year of £18,000 against £48,000 last year but in 1976 will run into deficit, for the first time for many years, mainly due to the expenses of commencing our long term plans for Kings Hospital. 7.4 The Society is, therefore in a healthy financial position at the present but will begin to incur heavy expenditure commencing next year, if it is to maintain the standard of its existing services to members and to improve and extend the range of such services wherever possible and also to carry out its various Statutory and Educational obligations. The Chairman emphasised at the Spring half yearly meeting in Westport that members will almost certainly have to face very much higher subscriptions in the coming years. 7.5 Lastly, the Compensation Fund was in a very satisfactory state at the 30th April, 1975. This fund is, of course, completely separate from the Society's assets and the Society is obliged by statute to maintain it as a separate fund. The fund provides full indemnity to members of the public who suffer loss as a result of defalcation by any practising Solicitor. As at the 30th April, 1975 the fund stood at £412,260 which is a satisfactory figure by any standards. Payments from the fund in respect of ascertained losses and other expenses during the year amounted to £43,160.

FINANCE COMMITTEE

Gerald Hickey, Chairman Walter Beatty Peter Murphy John J. Nash Peter D. M. Prentice

Gerald Hickey, Chairman

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