PCA Paul Newby had previously come under fire from the chair of the British Pub Confederation – who had raised doubts over whether the PCA could be "trusted to be independent" given that Fleurets is the "largest surveying practice operating in the sector that the pubs code is being introduced to regulate".
Open and transparent
Newby first declared his interests in the property agent, where he used to work, in July but due to high interest has now published the full details in a bid to be "entirely open and transparent", a PCA spokesperson said.
The updated PCA Register of Interests details how outstanding money owed to Newby, which he had originally invested in Fleurets, will be repaid.
He currently holds 100 non-voting, non-dividend bearing shares. Both Newby and his wife are also owed a further £130,762, which is being repaid to them in the form of monthly payments over a 10-year term until 1 October 2023.
'No incentive for him to act in any particular manner'
“The PCA’s position remains the same – these pre-existing interests do not call into question his ability to carry out his responsibilities,” the PCA spokesperson added.
“This is a view that has been upheld by the commissioner for public appointments. There is no direct link between the ownership of shares and loans and the decisions Mr Newby is required to make as the adjudicator.
"He gains no direct benefit from future instructions to Fleurets or the outcome of any particular case involving the company and there is no incentive for him to act in any particular manner.”
In May, Greg Mulholland MP, chair of the British Pub Confederation questioned how tenants could have "confidence in Newby’s appointment" and "why a chartered surveyor had been appointed instead of someone from a legal background".