Are you suggesting that the every year District represented by ‘740’ starts on page 1? Such that on page 396 in 1975 and on page 396 in 1976 there are 2 births with the same name - that’s extraordinary!
Unlike in England where the reference is to a page in the register, in Scotland every event gets a unique number.
In the case of births and deaths before about 1960/1970 (I forget exactly when) there were 3 certificates on each page of the register. After that every certificate is a whole page on its own.
In any given year and district, certificates are numbered in sequence starting with No 1. The numbers are assigned by the Registrar at the time of creating the record.
So this looks as if the 396th birth registered in District No 740* in 1975 is the same as the 396th birth registered in District No 740 in 1976. That looks like either coincidence (i.e. they genuinely do just happen to be the same) or some sort of clerical error.
I favoured the coincidence theory, until I found another certificate in 1975 with the identical number, which should be impossible, therefore it has to be a clerical error of some sort.
The only way to be certain is to take a look at both certificates, which can be done in house in a Scotland's People Centre.
*No 740 in 1975 was one of the numbers allocated to Edinburgh George Square, which also had No 738. I have no idea what happened to No 739!