S.I. No. 193/1966 - Solicitors' Accounts (Amendment No. 2) Regulations, 1966.

S.I. No. 193 of 1966.

SOLICITORS' ACCOUNTS (AMENDMENT No. 2) REGULATIONS, 1966.

1. (1) These regulations may be cited as the Solicitors' Accounts (Amendment No. 2) Regulations, 1966, and shall be read together with the Solicitors' Accounts Regulations, 1955 ( S.I. No. 218 of 1955 ), the Solicitors' Accounts Regulations, 1956 ( S.I. No. 308 of 1956 ), the Solicitors' Accounts (Amendment) Regulations, 1958 ( S.I. No. 193 of 1958 ), the Solicitors' Accounts (Amendment) Regulations, 1961 ( S.I. No. 51 of 1961 ), the Solicitors' Accounts (Amendment) Regulations, 1965 ( S.I. No. 163 of 1965 ), and the Solicitors' Accounts (Amendment) Regulations, 1966 ( S.I. No. 75 of 1966 ), which may be cited collectively with these regulations as the Solicitors' Accounts Regulations, 1955 to 1966.

(2) In these regulations unless the context otherwise requires:—

" accountant's certificate " has the meaning given to it by paragraph 2 (2) of these regulations,

" accounting period " means the period of one year ending on the balancing date,

" balancing date " means the date in each year on which a solicitor's books are balanced and which is notified to the Society pursuant to paragraph 2 (1) of these regulations.

(3) The Interpretation Act, 1937 , applies to these regulations in the same manner as it applies to an Act of the Oireachtas except in so far as it may be inconsistent with the Solicitors Acts, 1954 and 1960, or with these regulations.

(4) These regulations shall come into operation on the 10th day of February, 1967.

2. (1) Every solicitor to whom these regulations apply shall balance his books at least once in each practice year. The balancing date (or, where the books are balanced more than once in each year, one of such balancing dates) shall be a fixed date in each practice year and the solicitor shall, within three months from the date on which these regulations apply to him, notify the Society of such date. The balancing date shall also be stated in the annual declaration made by a solicitor for the purpose of obtaining a practising certificate.

(2) Every solicitor to whom these regulations apply shall deliver to the Society within six months of the balancing date in each practice year, or within such further period as the Society may permit, a certificate by an accountant (in these regulations referred to as an accountant's certificate) in either form A or form B in the schedule hereto, or in such other form as may be approved by the Society, in respect of the accounting period.

3. In order to enable him to issue an accountant's certificate in form A in respect of a solicitor an accountant shall not normally be required to do more than:—

(a) make a general test examination of the books of account of the solicitor,

(b) satisfy himself that a client account, and where appropriate, a trust bank account, is kept,

(c) make a general test examination of the bank passbooks, bank statements and deposit receipts kept in relation to the practice,

(d) make a comparison, as of not fewer than two dates not less than three months apart, in the period covered by the accountant's certificate and selected by the accountant, between the liabilities of the solicitor to his clients as shown by the books of account and the balance standing to the credit of the client account and where appropriate, the trust bank account and satisfy himself that such balance or balances are not less than the total of the sums required to be kept on client account or trust bank account in accordance with the Solicitors' Accounts Regulations in operation for the time being.

(e) obtain such information and explanations as he may require arising out of such examination.

4. In order to enable him to issue an accountant's certificate in form B an accountant shall make such audit, inquiry and investigation of the books, accounts and documents of the solicitor or his firm as will enable him to issue the certificate.

5. An accountant's certificate shall not be required in the case of:—

(a) a solicitor in the whole time service of the State, or,

(b) a solicitor who satisfies the Society that he has at no time during the accounting period held or received client's money or trust money or.

(c) any other solicitor who satisfies the Society that an accountant's certificate is unnecessary.

6. The Council may in any case on cause satisfactory to them being shown, extend the period of six months within which an accountant's certificate is required following a balancing of books.

7. The minimum books which a solicitor shall keep in connection with his practice are:—

(a) a cash book, or books, showing monies received and paid, ruled with two separate principal money columns on each side, one for transactions on client account and one for transactions on office account, or, alternatively, at the solicitor's option, two separate cash books, one for transactions on client account and one for transactions on office account,

(b) a ledger or ledgers kept so as to distinguish clearly between transactions on client account and transactions on office account,

(c) a record of bank lodgments of monies received by the solicitor in connection with his practice, distinguishing between lodgments made to client account or trust bank account and lodgments made to other accounts,

8. Where:—

(a) an accountant has been found guilty by the disciplinary tribunal of his professional body of professional misconduct or dishonourable conduct, or,

(b) the Council are of the opinion that an accountant has negligently issued a certificate which is untrue in any material respect of which fails to draw attention to any matter which ought to be brought to the attention of the Council

the Council may, at their discretion, refuse to accept further accounants' certificates given by him. In coming to their decision the Council shall take into consideration any observations or explanations made or given by such accountant or made on his behalf by a professional body of which he is a member.

9. The registrar shall not issue a practising certificate to a solicitor who has failed to comply with these regulations unless directed to do so by the Society.

10. Subject to the provisions of these regulations, these regulations apply to every solicitor who receives client's money or trust money.

SCHEDULE.

ACCOUNTANT'S CERTIFICATE FORM A

To (a)

Dear Sir(s),

Having made a general test examination of the books of account, bank passbooks, bank statements and deposit receipts kept in relation to your practice as solicitor(s) carried on at (b)............................................................ ............................................................ ...................................................as produced to me/us for the accounting period beginning on the.........day of ..................................... ....... 19.........and ending on the..........day of ........................................ 19......... I am/we are satisfied, subject to the matters set out on the back hereof

(1) that the said books appeared to be properly kept and written up in compliance with the Solicitors' Accounts Regulations now in operation.

(2) that as at the (c)..........day of...................19.......... and the.........day of.........19.........so far as appears

from the said books, statements and deposit receipts the sum or the total of the sums at credit of the designated client account or accounts and designated trust bank account or accounts as defined in the said regulations kept by you was not less than the total of the sums required to be so kept in conformity with the provisions of the said regulations.

Dated this......................................day of............................................................ .............................19....................

Signature............................................................ ..........................................................

Professional Qualification............................................................ ............................................................ .......................

Address............................................................ ............................................................ .....................

............................................................ ............................................................ ....................

NOTES

(a) State full name of the solicitor or firm of solicitors in respect of whom the certificate is issued.

(b) When the solicitor has two or more places of business he may at his option lodge a separate certificate for each office or one certificate to to cover all. All addresses should be stated in the certificate, if only one certificate is issued.

(c) These may be any dates, selected by the accountant during the accounting period covered by the certificate.

ACCOUNTANT'S CERTIFICATE FORM B.

To (a)

of (b)

Dear Sir(s)

I/we certify that in compliance with paragraph 4 of the Solicitors' Accounts (Amendment) Regulations, 1966 I/we have examined the books, accounts and documents kept in relation to your practice as solicitor(s) for the accounting period beginning on the..........day of..................19.........and ending on the.........day of..................19.........and that I am/we are satisfied, subject to the matters set out on the back hereof from such examination and from the information and explanations given to me/us that during the said accounting period you/your firm have complied with the provisions of the Solicitors' Accounts Regulations now in operation, and further that the sum or the total of the sums at credit of the designated client account or accounts and designated trust bank account or accounts as defined in the said regulations kept by you/your firm, was not less than the total of the sums required to be so kept in conformity with the provisions of the said regulations.

Dated this........................day of ............................................................ .......................... 19........................

Signature............................................................ ............................................................ ..........

Professional Qualification............................................................ ............................................................ ....

Address............................................................ ............................................................ .....................

............................................................ ............................................................ ....................

NOTES

(a) State full name of the solicitor or firm of solicitors in respect of whom the certificate is issued.

(b) When the solicitor has two or more places of business he may at his option lodge a separate certificate for each office or one certificate to cover all. All addresses should be stated in the certificate, if only one certificate, is issued.

Dated this 28th day of July, 1966.

Signed on behalf of the Incorporated Law Society of Ireland.

ROBERT McD. TAYLOR,

President.

I concur in the making of the above regulations.

CAHIR DAVITT,

President of the High Court.

EXPLANATORY NOTE.

The regulations oblige each practising solicitor to lodge an accountant's certificate each year with the Incorporated Law Society of Ireland and define the minimum books of accounts to be kept by solicitors.