[Mr_Gee]

What if you made a 2nd sub which checks this for you?

Sub Global
      key = "Software\My Application"
End Sub 

Sub Loadsettings

    CheckReg("ServerURL","http://ayvegh.com/~nico/")
End Sub

Sub CheckReg(What,Value)
  reg.New1
  reg.RootKey(reg.rtCurrentUser)
  ErrorLabel(NotCreatedYet)
  msgbox("The value is: " & reg.GetValue(key,What))
  return
NotCreatedYet: 'creates the subkey if it didn't exist
  reg.CreateSubKey(Value,key&"\"&What)
  msgbox("The key was created.")    
End Sub

BTW you might want to check the code, I'm not sure if
reg.CreateSubKey(Value,key&"\"&What)
is the correct way