The Scroll is given to the player by King Vargas during Royal Trouble. It identifies the players as the official Regent of Miscellania, which allows them access to the Miscellania & Etceteria Dungeon. It is collected by the dungeon guard as the player enters it for the first time, after which players cannot get it again.
The scroll quotes, I, King Vargas, proclaim that the bearer of this scroll is the Regent of Miscellania.
Trivia
The "Destroy" option confirmation box displays a letter identical to the one received the end of the quest instead of the scroll.