THE INCOME of the Law Society fell and referrals to the Solicitors Disciplinary Tribunal rose in 2010, according to the society’s annual report.
Income to the society comes mainly from practising certificates and fees to its law school, along with some commercial activities, and all saw either a fall or no increase, its director general, Ken Murphy, said in his report.
There are 1,500 fewer holders of practising certificates than were projected in 2007, so that income from this source is €3.3 million less than had been expected. The number of solicitors with certificates has remained stable since 2008, rather than increase, he said.
The society has embarked on a cost-cutting programme over the past three years, which included 27 redundancies. This has led to a saving of €10 million to date.
The impact of breaches in the disciplinary code has also been felt, with the reserves of the Compensation Fund dropping from €33 million to €14 million.
The High Court made 253 orders against solicitors in 2010, compared with 214 in 2009.