Part 29 deals with the registrar of companies and unifies the approach for the whole UK. Clause 716 replaces section 708 of the Companies Act 1985 and provides more information on the issues that the regulations might cover, although the lists are not exhaustive. Is the Minister pleased with the way in which the registrar of companies is working? Is it considered to be an efficiently run function? Are any reviews of its workings proposed?
The Registrar of Companies is a she, so she is by definition excellent. In any event, we do not have any cause for concern. When we come to what may be an interesting discussion about compensation for errors made by the registrar, we will find that the amount of compensation that has been paid during the ex gratia system is small—£130,000 over the past five years. I am sure that we will discuss it in more detail, but it does not suggest that a good deal is going wrong.
There is a complaints system that rectifies errors quickly anyway, and I am not aware that any strategic or important changes are going to be made. There is a quinquennial review of all executive agencies including that one, and it does not throw up any cause for worry.