1. HomeBaile
  2. Statutory InstrumentsIonstraimí Reachtúla
  3. 1961
  4. S.I. No. 51/1961 - Solicitors' Accounts (Amendment) Regulations, 1961.

S.I. No. 51/1961 - Solicitors' Accounts (Amendment) Regulations, 1961.

S.I. No. 51 of 1961.

SOLICITORS' ACCOUNTS (AMENDMENT) REGULATIONS, 1961.

The Incorporated Law Society of Ireland in exercise of the powers conferred on them by sections 4 , 5 , 66 and 71 of the Solicitors Act 1954 and of every other power thereunto them enabling, and with the concurrence of the President of the High Court, hereby make the following regulations.

1. These regulations may be cited as the Solicitors' Accounts (Amendment) Regulations 1961 and shall come into operation on the 2nd day of March, 1961.

2. In these regulations the term " the Principal Regulations " means the Solicitors' Accounts Regulations 1955 ( S.I. No. 218 of 1955 ).

3. These regulations and the Solicitors' Accounts Regulations 1956 ( S.I. No. 308 of 1956 ), the Solicitors' Accounts Regulations 1957 ( S.I. No. 252 of 1957 ) and the Solicitors' Accounts (Amendment) Regulations 1958 ( S.I. No. 193 of 1958 ) shall be read together, and construed as one with, the Principal Regulations and may be cited collectively therewith as the Solicitors' Accounts Regulations 1955 to 1961.

4. 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 these regulations.

5. Clause (i) of regulation 2 of the Principal Regulations shall be amended by the insertion of the following definition immediately before the definition of " Client ".

" Accountant " means (a) a person approved by the Council, who is a member of either the Institute of Chartered Accountants in Ireland or the Association of Certified and Corporate Accountants (b) any other person approved by the Council.

6. Regulation 12 of the Principal Regulations as amended by the Solicitors' Accounts (Amendment) Regulations 1958 ( S.I. No. 193 of 1958 ) shall be amended by the addition of the following sub-paragraphs;

(4) A solicitor shall, if required by the Council, lodge with such accounting statement as is mentioned in sub-paragraph (1) hereof, or at any later time named by the Council, a certificate by an accountant stating (a) that he has examined the books, accounts, and documents of the solicitor and the said accounting statement, (b) whether or not he is satisfied that the said books, accounts andaccounting statement have been properly kept and prepared in accordance with these regulations and whether they record truly the financial position of the solicitor towards all clients and trusts, (c) if he is not satisfied as aforesaid, the matters in respect of which he is not so satisfied ; and also certifying the balance on the solicitor's client account and any trust bank account.

(5) An accountant's certificate may, if the Council shall so direct, be restricted so as to relate only to one or more named clients or trusts.

Signed on behalf of the Incorporated Law Society of Ireland this 2nd day of March, 1961.

RALPH J. WALKER,

President of the Incorporated Law Society of Ireland.

I concur in the making of the foregoing regulations.

CAHIR DAVITT,

President of the High Court.