❓ A member of parliament questions the Minister for Tourism regarding the sale of Qantas shares to ensure transparency and avoid conflicts of interest. The Minister confirms the shares were sold on the open market to unknown parties.
AnsweredQoN 1983Legislative Assembly
QuestionView source ↗
In reference to the Minister for Tourism’s confirmation through Question on Notice 1887 that her Qantas shares had been sold, to avoid any ambiguity arising from the Minister’s response, I ask: (a) is the Minister aware who purchased the shares; (b) was any person who purchased the shares related or known to the Minister; (c) were the shares sold to a trust – ‘blind’ or otherwise – of which the Minister is a potential beneficiary; (d) were the shares sold to a trust of which a family member of the Minister is a potential beneficiary; and (e) were the shares sold on the open market?
AnswerView source ↗
Answered
1 April 2014
Responded by
Minister for Tourism
Response time
13 days
(a)-(e)
Further to answers to Legislative Assembly question without notice 637 and Legislative Assembly question on notice 1887.
Let me make this as clear as possible. At the time of my appointment as Minister for Tourism, I held shares in Qantas, valued at about $2 000. These shares have been declared to Parliament and Cabinet in the normal manner. However, as this shareholding could create the perception of a conflict of interest in my new role as Minister for Tourism, I notified the Cabinet Secretary and, on advice, disposed of the shares. On 10 September 2013, confirmation was received that the shares were sold. The Cabinet Secretary was notified of the sale of shares.
As the objective of the disposal of the shares was to remove the perception of a conflict of interest, it would be inconceivable to dispose of them in a manner whereby I, family members or friends retained some potential benefit. That would not have achieved the objective to remove the perception of a conflict of interest.
Therefore the shares were sold on the open market, through a stockbroker, to person/s unknown to me.
Further to answers to Legislative Assembly question without notice 637 and Legislative Assembly question on notice 1887.
Let me make this as clear as possible. At the time of my appointment as Minister for Tourism, I held shares in Qantas, valued at about $2 000. These shares have been declared to Parliament and Cabinet in the normal manner. However, as this shareholding could create the perception of a conflict of interest in my new role as Minister for Tourism, I notified the Cabinet Secretary and, on advice, disposed of the shares. On 10 September 2013, confirmation was received that the shares were sold. The Cabinet Secretary was notified of the sale of shares.
As the objective of the disposal of the shares was to remove the perception of a conflict of interest, it would be inconceivable to dispose of them in a manner whereby I, family members or friends retained some potential benefit. That would not have achieved the objective to remove the perception of a conflict of interest.
Therefore the shares were sold on the open market, through a stockbroker, to person/s unknown to me.
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