The Gazette 1989

A pril 1989

GAZETTE

New Bye-Laws Approved: Progress of Retirement Fund

and a summary was published in the May issue of the Gazette. At the formal opening of the meeting the Minutes of the Annual General Meeting of the Society, held in Blackhall Place on November 17, 1988, which were published in the Society's Gazette, were taken as read and signed by the President. The members of the Society and members of Law Societies from Northern Ireland and six overseas jurisdictions - England and Wales, Scotland, Belgium, Canada, USA and Australia were welcomed by Mr. Donal E. Browne, President, Kerry Law Society. • Data Protection Act, 1988 The Council of the Law Society wishes to advise members that they should not register unless they hold on computer data relating to:- (a) Political opinions. (b) Religious and other beliefs. (c) Physical/Mental health. (d) Criminal convictions. (e) Sexual life. (f) Racial origin.

The considerable appreciation of the Retirement Fund, established by the Incorporated Law Society of Ireland 14 years ago, was reported to the Society's half-yearly general meeting by Mr. Ernest J. Margetson. The meeting, held in the Hotel Europe, Killarney, on May 5th 1989, learned that the Fund now stands at £12.25 million. Mr. Margetson said that the value of the fund has increased by 25% in the year ended 1 March 1989 and the unit value now stood at £244.355. The investment performance over the year was satisfactory and Irish Equities did particularly well. Overall, the return was substantially ahead of inflation. Changes in the future operation of the fund will provide for the accounting year end to be 31 December with reports to members at the end of January/early February in each year. A cash fund for consolidation of gains for mem- bers who request this facility has been established. Membership increase There was a satisfactory in- crease in the membership of the fund during the year with the age profile being primarily in the 40 / 60 year bracket. The level of individual contributions was increasing. To develop participation further, the Investment Bank of Ireland had been appointed to undertake a mar ke t i ng role amongst the members of the Society. In this context, the tax saving obtained through participation in the fund was highlighted. For the future, the Income Con- tinuance and Life Assurance aspects of the fund will be handled by Sedgwick Dineen. The report and the accounts of the Fund were adopted. New Bye-Laws The meeting unanimously adopted the following motion which was proposed by Mr. Michael V. O'Mahony and seconded by Mr. Francis D. Daly:

"That the Society's existing bye-laws be rescinded and that the draft Bye-Laws, approved by the Council of the Society at its meeting on 7th April, 1989, and circulated to members, be here- by ordained and made with immediate effect." Accounts show surplus Mr. Ernest J. Margetson reported that the Accounts showed a slight surplus which was satisfactory, bearing in mind that significant legal costs had been incurred arising out of actions in respect of admission to the Law School. The audited accounts will be debated at the Annual General Meeting. Scrutineers eppointed The following were appointed Scrutineers of the Ballot for the Council for 1989-90: 1. Walter Beatty 2. Laurence F. Branigan 3. Terence Dixon 4. Andrew Donnelly The work of the Solicitors' Benevo- lent Association was detailed by the chairman of that body, Mr. John O'Connor, who stressed its con- tinued need for funds. He paid a tribute to all the members who had made special efforts to raise funds, and particularly Mr. Frank O'Donnell through his involvement in the Mara-Cycle event, which had raised a significant amount for the Association. Mr. O'Connor urged members to maintain and increase their support as the needs of claimants on the Association continued to rise. The Presidential Address of Mr. Maurice R. Curran was received with acclamation. A copy of the address has been filed with the Minutes 5. Eamonn Hall 6. Clare Leonard 7. John Maher 8. Donal O'Hagan 9. Peter Prentice 10. John Reidy 11. Roderick Tierney 12. Liam Young Benevolent Associetion

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