Economy and Fair Work Committee 29 January 2025
I have some questions about the Registers of Scotland (Fees and Plain Copies) Miscellaneous Amendments Order 2025. I thank Murdo Fraser, because the flock of sheep serves as a useful example. For a shepherd who wants to borrow against a flock of sheep, not only does registering need to be cost effective but—critically—so does updating the register in order to maintain accurate and current information on the asset that has been borrowed against.
I want to ask about the schedule of charges. You set out in your submission that, following consultation, you reduced the registration fee from £80 to £30. How was the level of £30 arrived at? Does the Government feel that that is the right level, given that the Law Society of Scotland, in its submission, points out that registration fees are considerably lower in other jurisdictions? The Law Society offers the examples of Australia and New Zealand, where the registration fee is about £7, while comparable situations, such as registering mortgages, or registering a company with Companies House, are charged at £15.
Although I understand that £30 is not an astronomical amount of money, it is still more than those sums. How was it arrived at, and what is the Government’s view on what the level of fee does with regard to ensuring that an accurate register is maintained?