The number of submissions processed to registration by the Companies Registration Office per year has increased by 187% since 1997. Whereas the number of submissions on registered companies awaiting processing stood at 650,000 in December 1997, it now stands at 235,000. The Registrar of Companies is hopeful that the remaining submissions will be cleared by the end of this year. I point out that all but 36,000 of these submissions are scanned and can be inspected by the public. The registrar expects that this scanning backlog, caused by technical problems during 1999, will be cleared by the end of May of this year.
These significant improvements in efficiency take place against a backdrop of a vigorous enforcement campaign, started by the office in September 1998. Following the tightening of the rules on company strike-off, brought into effect by the latest Companies Act, the office is now gearing up for the most extensive strike-off process ever undertaken with up to 70,000 companies targeted.
Whereas in 1997, 36% of companies due to file a return did so, that figure increased to 57% in 1999. The aim of the CRO is to increase that to 100% this year. While much remains to be achieved, I am happy with the progress made by the Companies Registration Office in its efforts to provide a faster and more efficient service to the public.