Labour leader David Cunliffe has had another hiccup with
trusts - this time for failing to disclose an investment one
until soon after MP David Shearer was caught not declaring a US
bank account in the MPs' register of financial interests.
Mr Cunliffe invested in the ICSL Trust - set up by ASB - in
March 2012 and it should have been in his return filed by
However, he did not declare it until July 2013. That was soon
after Mr Shearer was required to also lodge a late register
entry for his account with the Chase Bank.
A spokesman for Mr Cunliffe said the initial legal advice was
that the ICSL Trust investment did not need to be declared.
Mr Cunliffe sought advice from the Registrar of Pecuniary
Interests, who advised that if there was any doubt, it should
He was not the only MP to put in a late addition to the
register last year, possibly because of confusion after the
rules relating to trusts were changed in 2012. Minister
Nathan Guy put in a late return for property held by trusts,
including farmland, a beach place and a flat.
Other MPs who also added trusts to their returns late
included Labour's Carol Beaumont and Ross Robertson,
National's Simon Bridges and Shane Ardern and NZ First's
- By Claire Trevett of the New Zealand Herald