Theresa Villiers apologises for failing to declare a stake in the oil firm worth over £70,000 for five years.
A former environment secretary has revealed she failed to declare tens of thousands of pounds of shares she held in oil giant Shell while in the role.
The spokesperson added that it had not occurred to her that any of the stakes would pass the threshold, but they did after she received a legacy in 2018. This was more than a year before she was appointed to the Department for Environment, Food & Rural Affairs under Boris Johnson in July 2019, a role she held until February 2020.
On 2 August, she registered a fifth stake over the amount in Scottish Mortgage Investment Trust, with records showing she held it between 6 and 20 July this year. "She takes full responsibility for the mistake. She accepts that it should never have happened, and that she should have kept track of the additions to her investment portfolio," they added.
However the prime minister's ethics adviser at the time, Sir Alex Allan, advised her this was unnecessary because "the portfolio was managed for her and she did not take investment decisions," they added.
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