BHS director ordered to pay £87,000 for failing to give information to Pensions Regulator
26 February 2018
The director and majority shareholder of the company that bought BHS for £1 have been ordered to pay more than £87,000 for failing to hand over information to The Pensions Regulator (TPR).
Dominic Chappell failed to provide information that TPR had required him to supply as part of its investigation into the sale and then collapse of BHS, using powers under section 72 of the Pensions Act 2004. He also failed to provide TPR with information about a possible unauthorised disclosure of restricted material.
Chappell had pleaded not guilty to three charges of neglecting or refusing to provide information and documents without a reasonable excuse but was convicted of all the charges after a trial in January.
At Barkingside Magistrates’ Court on 23 February, District Judge Gary Lucie ordered Chappell to pay a £50,000 fine, £37,000 costs and a £170 victim surcharge.
Judge Lucie said:
“The court must send a message to those in senior positions that refusal to answer questions under section 72 will not be tolerated. The law is there for a purpose and it must be enforced. There is a complete lack of remorse on Mr Chappell’s part.”
The case is the fifth criminal conviction secured by TPR against individuals or organisations for failing to comply with section 72 notices.
The full details are available in TPR’s press release.