3.10 Pecuniary Interests Declaration
3.10.1 Minister
It is a requirement of every Member of the Legislative Assembly, including Ministers, to make a declaration of their pecuniary interests within one month of making and subscribing an oath or affirmation as a Member. These statements form the Public Register of Members' Interests maintained by the Clerk of the Parliament. A statement of the interests of related persons is also to be made, such statements being maintained in a private register by the Clerk.
In addition every Member, including Ministers, must notify the Clerk in writing of any change in the details contained in the last statement of interests within one month of becoming aware of the change or, where there are no changes a 'no change' of interests return no later that 30 June each year.
3.10.2 Office staff
Staff employed within Ministerial Offices are required to ensure that their private interests do not conflict with, or are not seen to be in conflict with, the discharge of their official duties.
To assist in avoiding potential conflicts, officers employed within Ministerial Offices are required to lodge a statement of their pecuniary interests with their relevant Minister when they join the office or on a change of Minister, and on an annual basis no later than 30 June each year. When pecuniary interests details are updated in June of each year, it may be that the interests declared are unaltered. In this instance, staff may elect to re-sign and date the previous year's declaration.
The 'Statement of Pecuniary Interests' provides details of the officer's interests together with the interests (as known to the officer) of the officer's partner and any dependants.
Ministers should sign and date all pecuniary interest declarations upon lodgement following the staff member's appointment and annually thereafter or upon a change of Minister.
Notification of alteration of interests
Officers must notify the Minister of any alteration to their interests as detailed in their 'Statement of Pecuniary Interests' within 28 days of becoming aware of the change.
Penalty provisions
Officers who knowingly fail to provide a 'Statement of Pecuniary Interests' or a 'Notification of Alteration of Interests' by the due date or knowingly provide false or misleading information to the Minister, may have their employment terminated by the Director-General, Department of the Premier and Cabinet forthwith.
Disposal of register
All details of pecuniary interests provided to the Minister shall become the property of the Crown and are not returnable to the officer. Disposal of details of pecuniary interests shall be undertaken in accordance with the current guidelines for disposal of Ministerial records.
New Minister
Upon a new Minister taking up a Commission, fresh details of pecuniary interests shall be provided by officers.
See
3.10.3 Guidelines for the completion of the Pecuniary Interests Declaration
Categories of disclosure
To ensure consistency and comparability of information regarding pecuniary interests, broad categories for the declaration of interests have been adopted.
In summary, interests will be categorised under:
- shareholdings in public and private companies
- family and business trusts and nominee companies<,/a>
- real estate
- registered directorships of companies
- partnerships
- liabilities
- bonds, debentures, and like investments
- savings or investment accounts
- other assets
- other substantial sources of income
- membership of any organisation
- other interests
The following paragraphs provide more detail regarding the composition of each category and the information required to be disclosed.
Shareholdings in public and private companies
Ministerial staff are required to declare any interests in any shares including equitable as well as legal interest, whether held directly or indirectly, which enables the staff member, or his/her partner or dependants to exercise control over the right to vote or dispose of those shares. It is not necessary to notify share-holdings held as an executor or trustee of a deceased estate where the staff member or his/her partner or dependants are not beneficiaries of that estate.
Where interests are held in a private holding company (ie. a proprietary company formed for the purpose of investing in subsidiary companies) all such private companies, and any subsidiary companies should be named.
Family and business trusts and nominee companies
Staff are required to declare interests in family and business trusts and nominee companies:
- in which a beneficial interest is held, indicating the name of the trust, the nature of its operation and beneficial interest; and
- in which the staff member or his/her partner, or other person who is wholly or mainly dependent for support, is a trustee (but not including a trustee of an estate in which no beneficial interest is held), indicating the name of the trust, the nature of its operation and the beneficiary of the trust.
Note that both beneficial interests and trustee responsibilities (except as trustee of a deceased estate where neither the staff member nor his/her partner or dependants are beneficiaries of the estate) should be specified.
Real estate
Staff are required to disclose details of any real estate holdings other than real estate held as an executor or trustee of a deceased estate where they or their partner or dependants are not beneficiaries of that estate.
Registered directorships of companies
Staff generally should declare directorships held by themselves, their partner and dependants on the boards of any companies. Details pertaining to the companies (ie. activities etc) should also be provided.
Partnerships
Staff are required to disclose details of any involvement in partnerships, including their interest in the partnership and the activities of the partnership.
Liabilities
Staff are required to disclose details of all liabilities including mortgages, hire purchase arrangements, personal loans and overdrafts other than:
- Department Store credit accounts; and
- Credit Card accounts*
*Note: Cash advances amounting to $5000 or more obtained on a credit card and unrecouped for more than 60 days must be declared.
Bonds, debentures and like investments
This category includes any investment involving the placement of money for a specified period which attracts interest. Staff are required to declare details of all of these investment holdings.
Savings and investment accounts
Staff are required to disclose details of savings and investment accounts with banks, building societies and like organisations other than ordinary non-interest bearing cheque accounts.
Other assets
Staff are required to disclose all asset holdings, valued at over $5000 per item with the exception of the following:
- personal use motor vehicles
- collections (eg. stamp collections)
- household and personal effects
Items under $5000 should be disclosed, if the nature of the item indicates a sensitivity to a conflict of interest.
Other substantial sources of income
Staff are required to disclose income from employment (other than as an employee of the Crown), business undertakings or investments of the staff member and his/her partner and dependants. As a general rule income of less than $1000 per annum need not be disclosed. Family allowance payments are also not required to be included
Membership of any organisation
Staff are required to disclose Membership of all organisations.
Other interests
Staff are required to disclose any other interests which may result in or be seen to result in a conflict of interest.
Indirect pecuniary interests and contingent pecuniary interests must also be declared in this category.
Interactive Gambling (Player Protection - disqualified Persons) Amendment Regulation (No 1) 2000
Ministerial staff are prohibited from holding or acquiring an interest in any holder of an interactive gaming licence issued in Queensland. If staff currently possess any prohibited shares or become aware in the future that staff possess prohibited shares, then the shares must be divested within a period of 14 days, at no profit. If not divested within this period, then the shares are forfeited to the State and a penalty may be imposed (maximum penalty $1500).
An exemption is made to the above restriction in the case of membership of a professionally managed investment or superannuation fund whereby staff are deemed to exercise no discretionary control over the investment strategy of the fund.
The Regulation also prohibits staff from being a business or executive associate of an interactive gambling licensee.
Last reviewed: 17 July, 2009
Last updated: 22 July, 2009
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