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All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
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Displaying 1661 contributions
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
The question is whether there is an onus on the registers to verify information that they are presented with. Indeed, it is not even information that is the issue, because the information will be accurate; it is the intent behind the information. I suppose that the answer to that is that the register can only check what is in front of it.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
The information might also be commercially sensitive. I assume that we do not put every invoice on to the register.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
That is a good point. The registers would make that information easily available for anyone who chose to search for it. You are absolutely right that raising awareness of the change is important.
Jill, would you like to comment on what we have done specifically in that regard?
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
In general, Registers of Scotland brings in enough revenue through its various activities to cover its costs, which, from a public finance point of view, is very welcome. That is the principle to which we operate in order to understand the costs of running the service and the likely number of transactions. We used that to arrive at a fee structure that would allow ROS to cover its costs as a consequence.
The initial £80 was based on an estimate of the number of transactions. That estimate was then revised as more work was undertaken in order to have a more thorough understanding of that. We estimate that there will be 25,000 transactions or thereabouts over the period of a year once the registers are up and running. If we do the calculations on that, with our estimated running costs, which are close to £1 million when everything is up and running, we come to that schedule of charges. That is why it is there.
It is about getting the balance right with regard to what people will feel is reasonable. Extensive consultation was undertaken on the matter, and many of the points that you raise were made. That was part of the reason for reducing the £80 charge to £30. I am not sure how many sheep you can buy for £30, but, in the grand scheme of things, if you are running sizeable transactions with many other fees involved, and borrowing against assets, I would expect that that figure would not be a significant issue.
As we move forward, there will be scope to revise the fees depending on whether more, or fewer, transactions come through, or how we see the costs working through.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
That is a good question. I will undertake to log in and see how it works to verify that. My experience of other registers that Registers of Scotland provides is that they are very easy to use and very accessible, but others may have different views on that.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
The registers exist to create that visibility, so that people can search them. Exactly.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
Who can make a correction is limited to the parties that were involved in the transaction. To some extent, it depends on the definition.
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
Are you talking about who should make the correction or who would be liable if there was some fraud as a consequence of the entry in the register being incorrect?
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
That is a good question. I will defer to officials, as I have not been through the consultation responses in detail. Does Jill Clark want to pick that up?
Economy and Fair Work Committee
Meeting date: 29 January 2025
Ivan McKee
Has that not come forward?