Seems odd
If you have developed a trading name and wish to purchase a domain that matches another trader with a similar name it then you would expect them to defer to the first registrant.
So if PELI lipstick had registered peli.co.uk then PELI cases would have to approach Peli lipstick and offer them money to part with it.
However if a registrant who has no stake in the mark and the domain has no value on its own without the marketing and they hold it to ransom you would expect Nominet to rule in Peli's favour or cap the amount it could be sold for. A £1000 limit would stop the law suits.
Generic names such as BOSS should obviously be a free for all.