Solicitors Accounts (Amendment No. 2) Regulations, 1970.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: These regulations may be cited as the Solicitors Accounts (Amendment No. 2) Regulations, 1970.
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paragraphs: In these regulations the term "the Principal Regulations" means the Solicitors' Accounts Regulations 1967 ( S.I. No. 44 of 1967 ).
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paragraphs: These regulations shall be read as one with the Principal Regulations and the Solicitors' Accounts (Amendment No. 1) Regulations 1970 ( S.I. No. 94 of 1970 ) and shall, as far as they are inconsistent therewith alter and amend the same.
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paragraphs: These regulations will come into operation on the 14th day of May, 1970.
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paragraphs: Paragraph 2 (1) of the Principal Regulations shall be amended by substituting for the definition of "Accountant" the following definition:—
"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 who is considered by the Council to have adequate qualifications or experience in the auditing of accounts and, where the context so admits or requires, includes a firm of accountants.
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paragraphs: Paragraph 16 of the Principal Regulations is hereby deleted and the following paragraph is substituted therefor:—
discretion withdraw approval of an accountant and may thereafter refuse to accept accountant's certificates prepared by such accountant either generally or any particular case. Notification of such withdrawal shall be sent by the Council to the accountant and to any solicitor affected by it but no reason need be assigned by the Society or the Council for the withdrawal of such approval.
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paragraphs: Paragraph 20 of the Principal Regulations is hereby deleted and the following paragraph is substituted therefor.
20(1) In order to ascertain whether these regulations have been compiled with the Council, acting either on their own motion or on a written complaint lodged with them.
(a) may require any solicitor
(i) to nominate an accountant for approval by the Council within seven days from the date of notice of such requirement and, subject to such approval.
(ii) to appoint such accountant for the purposes hereinafter mentioned.
or
(b) may themselves approve and appoint an accountant for such purposes.
(2) Where a solicitor nominates an accountant and the accountant is approved by the Council or where the Council approve and appoint an accountant, the solicitor shall produce at a time and place appointed by the Council his books of account, bank statement or pass books, statements of account, vouchers, files and any other necessary documents, including accounting statements prepared under paragraph 18 hereof, for the inspection of an accountant and shall afford to such accountant all other facilities which the accountant report to the Council on the result of the investigation. Subject to the provisions of the next succeeding sub-paragraph of this paragraph the solicitor shall be responsible for the costs and expenses of any such inspection and report save where the Council themselves approve and appoint an accountant for the said purposes.
(3) Before instituting an inspection on a written complaint lodged with them 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, in any case they think proper, may apply the sum, or any part thereof, in payment or part payment of the costs and expenses of the inspection and of the solicitor against whom the complaint is made and any sum not applied shall be refunded to the person lodging the same.
(4) In this paragraph the term "accountant" includes any authorised representative of the accountant.
(5) The Council may at any time terminate the authority of an accountant and appoint another to carry on or complete an investigation and report.
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paragraphs: Paragraph 4 of the Principal Regulations is hereby deleted and the following paragraph is substituted therefor.
4(1) A solicitor who receives client's money shall, without unnecessary delay, pay such money into a client account unless such money:—
(a) is received in the form of cash and is paid in cash without unnecessary delay to the client or on his behalf or,
(b) is received in the form of a cheque or draft or other negotiable instrument which is endorsed over without unnecessary delay to the client or on his behalf or,
(c) is paid without unnecessary delay into a separate banking account in the name of the client or some person named by the client or,
(d) is money which the client has directed the solicitor to deal with otherwise or,
(e) is money which the Council, upon application made to them by the solicitor, have specifically authorised in writing to be withheld from a client account.
(2) There may also be paid into a client account
(a) such money belonging to the solicitor as may be necessary for the purpose of opening or maintaining the account or required to ensure compliance with the foregoing provisions of this paragraph (including money of the solicitor paid in to make good any previous default of the solicitor in failing to pay in to such account any sums which should have been paid in by him in accordance with the foregoing provisions of this paragraph).
(b) Money to replace any sum which for any reason may have been withdrawn from the account in breech of any of the provisions of these regulations.
(c) Other money belonging to the solicitor provided that the amount already standing in the client account is sufficient to satisfy all claims in respect of monies that should have been paid into the said account pursuant to the provisions of these regulations.
Dated this 14th day of May, 1970.
Signed on behalf of the Incorporated Law Society of Ireland
JAMES R. C. GREEN,
President of the Incorporated Law
Society of Ireland.
I concur in the making of the above regulations.
AINDRIAS Ã CAOIMH,
President of the High Court.
EXPLANATORY NOTE
These regulations
(a) amend the definition of accountant in the Principal Regulations,
(b) strengthen the power of the Society to withdraw approval from an accountant and to refuse to accept further accountants' certificates from him,
(c) declare that a solicitor is responsible for the expenses of an investigation of his accounts except where the Council themselves appoint and approve an accountant for that purpose,
(d) declare for the removal of any doubts, that a solicitor may pay into a client account monies of his own with the proviso that the amount standing to the credit of the client account at all times must be sufficient to satisfy all clients' claims.