Within 60 days of being sworn in, and every year thereafter, Members are required to file a confidential financial disclosure statement with the Commissioner’s Office. Members must disclose the nature (but not the value) of their assets, liabilities and financial interests, including:
- Sources of income
- Employment, professional or business activities
- Assets, including registered and non-registered investments and real property interests
- Interests and directorships in private businesses
- Liabilities (e.g. loans, mortgages guarantees given)
- Guarantees given or received
- Trusts (either as beneficiary or trustee)
- Contracts with the government (see further information below)
- Other miscellaneous interests (pension interests, unpaid taxes, ongoing lawsuits, bankruptcy standing, support obligations)
Once the Commissioner has met with all the Members and all their confidential statements have been finalized, our Office prepares a Public Disclosure Statement (PDS) for each Member. The PDS contains most, but not all, of the information contained in Members’ confidential statements. The PDSs are delivered to the Clerk of the Legislative Assembly, where they are available for inspection by the public.
Throughout the year, if there are any significant changes to a Member’s financial interests, the Member must inform the Commissioner within 30 days by submitting a Notice of Material Change (Form 4). This is a legislative requirement, and ensures transparency by ensuring that each Member’s public financial statements are always up to date.