The Gazette 1979

JULY-AUGUST

1979

GAZETTE

personal representatives where, in disposing of an asset, it is clear that they are acting as "bare" trustee for die beneficiary (Section 8 (3) of the 1975 Act). Generally speaking, where there is evidence that the administration of the estate has been completed in accordance with the terms of the Will or the law relating to the intestacy and that the assets remaining in the hands of the personal representatives are assets in relation to which the beneficiary could give a direction satisfying Section 15 (10) of the 1975 Act, any reliefs to which the beneficiary would be entitled are granted to the personal representatives where the asset is disposed of by them without being first vested in the beneficiary. It appears, therefore, that no amendment is necessary, as the position is substantially as your Society suggests it should be. European Law Conference A Joint Conference Of the Scottish Lawyers' European Group with the Solicitors' European Group (Northern Ireland Branch) and the Incorporated Law Society of Ireland was held on 2nd and 3rd March 1979 in Edinburgh. The Council of the Incorporated Law Society of Ireland was represented by Messrs. Robert Flynn, Frank O'Donnell, Michael O'Mahony and Brian Russell. Frank O'Donnell also spoke on behalf of participants from the Republic of Ireland at a dinner in the George Hotel Edinburgh on Friday 2nd March. Other solicitors from the Republic who were also present were F. X. Burke, Rory F. Conway and John Fish. The purpose of the Conference was that representa- tives from all three bodies should meet together to con- sider the effect of the Common Agricultural Policy of the E.E.C. and to discuss how the practising solicitor can best equip himself to provide specialist and informal advice on problems of agriculture, fishing and funding. Among the several lectures that were delivered perhaps three stood out. One of these was an excellent lecture which discussed the case of the Ministry of Fisheries v. Schonenberg and was delivered by Rory F. Conway. The other two were lectures entitled "Agriculture and E.E.C. policy as it affects the practising solicitor" (delivered by J. H. Bourgeois and "Funding - Aspects of prime relevance to farmers and business and professional men" (delivered by Gregg Myles). In addition, C.C.B.E. Identity cards were presented to Rory Conway and Michael O'Mahony by John Smith M.P. at a Reception on 2nd March. Throughout the whole conference excellent hospitality was given to all visiting participants and it was unanimously agreed that efforts should be made to con- tinue such joint conferences on a yearly basis. It is likely that a second conference will be held in the Republic some time early in 1980.

done, however, there can be great advantages. A new structure is created, giving opportunities for better office administration, better business, more specialisation, better service to clients and hopefully greater profitability with Hess strain to the partners. It is, I think, in the field of office administration that a merger offers the greatest advantages. It is extremely im- portant that the office administration and general backup to partners are such that the partners themselves are not submerged with administrative work afid are free to give théir services to their clients and are free to spend sufficient time on matters of partnership policy and the future development of the partnership. Capital Gains Tax (Amendment) Act 1978 SOCIETY'S REPRESENTATION AND MINISTER'S REPLY The Society through its Parliamentary Committee made representations to the Minister for Finance on a number of matters arising out of the provisions of the Capital Gains Tax (Amendment) Bill 1978. The reply of the Minister to one of the submissions made may be of interest to practitioners and accordingly the submission and the Minister's reply are set out below verbatim. Society's submission 6. (finally) It is suggested that where a personal representative disposes of property in the course of administration, the relief to which the beneficiaries would have been entitled (had the property been first vested in them and then sold by them) should be allowed. This should not result in any loss of Revenue to the State be- cause obviously if the Personal Representative and beneficiaries are properly advised they will first vest the property in the beneficiaries and allow them to sell. Such an amendment, however, would make for greater con- venience and efficiency in the administration of estates, as well as a saving in legal expenses. Minister's reply 6. Where assets that have been vested in a beneficiary are disposed of by him he will obviously be entitled to claim whatever reliefs are appropriate, for example, the £500 exemption to which an individual is entitled under Section 16 of the Capital Gains Tax Act, 1975. You suggest that such reliefs should be granted even where the personal representatives make the disposal. Under the legislation as it stands these reliefs are in fact granted to

DETECTIVES (PRIVATE) EIRE International Investigators Solicitors' Enquiry Agents — Process Servers — Commercial Enquiries 294 Merrion Road, Dublin 4. Tel. (01) 691561. Telex 30493. 16 Wellington Park, Belfast 9. Tel. (0232) 663668. Telex 747958. LONDON — also BRIGHTON, SUSSEX — NEW YORK. U.S.A.

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