The NSW Finance Minister is facing an internal investigation over his shareholding in one of the state’s toll road giants.
Fronting the media on Friday, Mr Tudehope came under siege after he revealed he held stock in the toll operator through a diversified family super fund managed by financial advisors.
“In accordance with my obligations I provided a disclosure to the premier not only of my financial circumstances but the portfolio of assets held by my family superannuation fund,” Mr Tudehope said. “I have advised the Premier of the assertion that has been made that I should have in fact disclosed the material to the Premier or with those of whom I had been in discussions.
Under the code a minister may have interests in a Superannuation fund if they are a “blind trust” or if it is “broadly diversified”, the minister has “no influence” over investment decisions and if the fund does not specifically invest in a sector or business which could “reasonably be expected to give rise to a conflict of interest”.
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