The Irish Law Society has passed a regulation prohibiting solicitors acting for both vendor and purchaser in conveyancing transactions (including voluntary transactions), with effect from 1st January, 2013.
President Donald Binchy has written to members to inform them of this mornings decision.
The decision followed the Council’s third lengthy debate on the issue where all members were consulted.
A vote of 21 Council members to 8 led to the adoption of the new regulation recommended by the Conveyancing Conflicts Task Force.
The report of the Task Force, is available through this link.
Here is the text of the regulation adopted today.
Donald Binchy said: “I am aware that this regulation will not meet with the immediate approval of all colleagues.
“However, I believe that over time the profession as a whole will consider that the adoption of this regulation was the right decision for the Council to take and is one which will benefit both the public and the profession.”
