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Frank Field asks if Sir Philip Green’s assets can be seized

Frank Field, chair of the work and pensions select committee, has written to The Pensions Regulator to ask if Sir Philip Green’s assets can be seized on behalf of the BHS pension scheme.

Field wrote: “Following your decision to begin enforcement action to seek redress on behalf of the BHS pension schemes by issuing ‘warrant notices’ to Sir Philip Green, Taveta Investments Limited, Taveta Investments (No.2) Limited, Dominic Chappell and Retail Acqusitions Limited, I would be grateful if you could please clarify… whether the regulator can settle a Contribution Notice or Financial Support Direction through acquiring assets other than cash from a person or company from which the payment is being sought.”

The committee has also written to Arcadia to request more information about the recovery plan for its pension fund, which is said to be well over £200m in deficit.

Lesley Titcomb, chief executive of the Pensions Regulator, is set to appear before the committee later today to answer questions on how her regulatory powers can and should be used to avoid another BHS pension fund disaster.

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