Written question asked by Roseanna Cunningham (Scottish National Party) on Thursday, 3 December 1998, in the House of Commons. It was due for an answer on Monday, 14 December 1998. It was answered by Henry McLeish (Labour) on Monday, 14 December 1998 on behalf of the Scottish Office.

Scottish Office

Question: To ask the Secretary of State for Scotland, what financial return is required to be made by the executive agency Registers of Scotland in terms of percentage return on capital, taking account of the average cost of first registration under the Land Registration (Scotland) Act 1979 and the average income for registration due in respect of each transaction; if the report of the quinquennial review currently being carried out by KPMG Consultants will be made available for consultation with those interests affected by its conclusions; and if he will make a statement. - Includes figure.

Answer: Ms Roseanna Cunningham: To ask the Secretary of State for Scotland what financial return is required to be made by the executive agency Registers of Scotland in terms of percentage return on capital, taking account of the average cost of first registration under the Land Registration (Scotland) Act 1979 and the average income for registration due in respect of each transaction; if the report of the quinquennial review currently being carried out by KPMG Consultants will be made available for consultation with those interests affected by its conclusions; and if he will make a statement. [63120] Mr. McLeish: In terms of its status as a Trading Fund under the Government Trading Funds Act 1973, the Agency is required to make a 6 per cent. return on capital employed across the range of its activities. This target will be reviewed from time to time. The final report resulting from the Quinquennial Review of the Registers of Scotland Executive Agency will be made available to interested parties once the Secretary of State has announced the outcome of the review.

Secondary information