Solicitors' Accounts (Amendment) Regulations, 1958.
Statutory Instruments
Source: Statutory Instruments

num: 12
paragraphs: (1) Every solicitor practising on his own account and every firm of solicitors and every solicitor-trustee shall, whenever required by the Council, prepare or cause to be prepared and shall submit to the Council within such time, not being less than seven days, as the Council shall require by notice in writing, such accounting statement as will show in summary form the true balances of all moneys received and due in respect of all clients and trusts, or, if so required, in respect of any particular client or trust, and where and how at the date of such statement such balances are held in safe keeping and available for payment.
(2) If any sum is due by a client or trust to such solicitor or firm of solicitors or such solicitor-trustee in respect of costs which have not been taxed or otherwise ascertained, the sum to be included in the accounting statement shall be the gross amount received by the solicitor, firm of solicitors or solicitor-trustee for or on behalf of such client or trust (less any credits which may have been agreed or ascertained), and a note shall be appended stating that costs are due and stating the estimated amount thereof, without prejudice to the taxation of any bill of costs in the absence of agreement.
(3) Without prejudice to its generality, the term "moneys" in this regulation includes bearer bonds, securities passing by delivery and all other types of negotiable securities.
num: 14
paragraphs: (i) In order to ascertain whether these regulations have been complied with, the Council, acting either on their own motion or on a written complaint lodged with them, may require any solicitor to produce at a time and place to be fixed by the Council his books of account, bank statements or pass books, statements of account, vouchers and any other necessary documents, including accounting statements prepared under regulation 12 hereof, for the inspection of an accountant who shall be nominated by the solicitor within seven days from receipt of notice of such requirement, and, if approved by the Council appointed by them or, in default of such nomination and approval, of an accountant appointed by the Council, and such accountant shall prepare for the information of the Council a report on the result of such inspection. The Council may at any time terminate the authority of an accountant and appoint another to carry out or complete an inspection and report.
(ii) Upon being required so to do a solicitor shall produce such books of account, bank pass books, statements of account, vouchers and other documents at the time and place fixed and shall afford to such accountant all other facilities which may be necessary for completing his inspection and report.
(iii) Before instituting an inspection on a written complaint, the Council may require the payment by the person lodging the complaint of a reasonable sum to be fixed by the Council to cover the costs and expenses of the inspection and of the solicitor against whom the complaint is made. The Council may deal with any sum so paid in such manner as they think fit.
(iv) In this regulation the term " accountant " includes a firm of accountants and any representative of the of the accountant or firm.
Signed on behalf of the Incorporated Law Society of Ireland this 18th day of September, 1958.