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Hart resigns as Chelsea chairman

Chelsea Building Society chairman Maurice Hart has resigned amid an investigation into complaints against his conduct as director of hotel chain Queens Moat Houses.

Complaints about Hart&#39s professional conduct as chairman of QMH, plus his involvement as a partner in the accountants which audited the company&#39s accounts in 1990, will be heard by a tribunal at The Accountants&#39 Joint Disciplinary Scheme at a later date.

The scheme independently investigates any professional and business con- duct of its member accountants which has arousedpublic concern.

The AJDS says the complaints about Hart&#39s conduct as director of QMH concern “his failure to exercise reasonable skill and care in the performance of his duties, including a failure to ensure its 1991 accounts gave a true and fair view”.

Hart, 69, joined Chelsea&#39s board in April 1986 and became chairman in July 1992. He was planning to retire next year.

A statement on Hart&#39s resignation from Chelsea reads: “In light of his age and the time necessary in dealing with the tribunal, he felt he should resign from the board.”

Chelsea will appoint Hart&#39s successor at a board meeting this week.

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