(LAWFUEL) – The Commerce Commission has today announced it will be conducting an inquiry into whether Donal Curtin, who was appointed Deputy Chair of the Commission in July, provided an appropriate level of disclosure to the Commission and the Minister of Commerce in relation to his involvement with finance and investment companies Vestar Ltd, Mint Asset Management Ltd and MFS Ltd.
Disclosure of conflicts of interest by members of crown entities is required under the Crown Entities Act 2004 and members of the Commission are required to provide full disclosure of any potential interests under the Commission’s Conflicts of Interest Policy.
The Commission has appointed Hugh Rennie QC to conduct the inquiry. Mr Rennie will investigate the facts surrounding the issue of disclosure. Mr Rennie will then advise the Commission what action, if any, will be appropriate for the Commission to take.
Mr Curtin has voluntarily stood down from all duties as a Commission member for the duration of the inquiry.
While the inquiry is ongoing, there will be no further comment by the Commission.
In July 2008 Commerce Minister Lianne Dalziel announced the appointment of Donal Curtin as Deputy Chair of the Commerce Commission. Mr Curtin was appointed as an Associate Commissioner in January 2001 and became a full member of the Commission in November 2002. Mr Curtin is an economic consultant.
Conflicts of interest. The Commerce Commission operates a conflicts of interest policy. Commission Members must be alert to and disclose all actual or perceived conflicts of interest as defined by the Crown Entities Act 2004. If there is any doubt, Commission Members must exempt themselves from the matter under discussion and disclose the conflict to the Chair. A register of conflicts is maintained and continually updated.