§ The Minister of State, Department of Trade and Industry (Lord Fraser of Carmyllie) rose to move, That the regulations laid before the House on 5th June be approved [22nd Report from the Joint Committee].
§ The noble and learned Lord said: The main aims of these regulations are, first, to reduce prices overall for a range of Companies House services, and, secondly, within the overall reduction to increase certain charges where higher unit costs have become unavoidable.
§ Companies House Executive Agency, in undertaking the functions of the Registrar of Companies, has succeeded in meeting its targets to reduce unit costs, thus creating a surplus of revenue over costs. The general reduction in prices is intended to eliminate this surplus.
1025§ The regulations, however, provide for limited increases, notably in the charge for a standard fee search, from the level of £3 set in 1991 to £3.50 to reflect the costs of meeting a diminishing requirement for this particular service and to avoid cross-subsidisation by others. I commend the regulations to the House. I beg to move.
§ Moved, That the regulations laid before the House on 5th June be approved
§ [22nd Report from the Joint Committee.—(Lord Fraser of Carmyllie.)
§ On Question, Motion agreed to.