Dr. David McFadden:

Our information to date is that the number of companies has risen year on year and we are now at the highest level of companies registered on the register. Over the pandemic in the last year and a half we suspended discretionary strike-off of companies, which was a major part of our enforcement function. When the registrar decided to give extensions to allow companies to file, that was part of an overall package to ensure that companies had an opportunity to try to comply in very difficult circumstances. That included not only giving additional time to file but also suspending discretionary enforcement activity. Where companies had fallen into difficulties in the past they went into a strike-off regime whereby they went through a process which ultimately leads to them being struck off the register. That was all placed on hold during the height of the pandemic, so the number of companies being struck off fell away very dramatically. There may well be an uptick in due course with regard to liquidations and so forth, but that will wash through in time. At present, however, we have the highest number of companies on the register.