Anthony Albanese bars ministers from blind trusts in new code of conduct

Anthony Albanese has laid down the law to his new frontbench, ruling out one thing which caused Scott Morrison pain.

A fresh code of conduct has been signed off on by Prime Minister Anthony Albanese, but it will not apply to the entire parliament.

Instead, the new code lays down the ground rules for government ministers and is an updated model based on the one used by the previous Labor government in 2013.

Frontbenchers will be required to divest themselves of shareholdings once promoted to the ministry.

But they will also no longer be able to hold interests in “blind trust” arrangements.

The Prime Minister’s new code was signed off on this week. Picture: NCA Newswire / Gaye Gerard

The new ruling is in response to the furore stoked by the declaration that former Attorney-General Christian Porter had legal fees paid for by a trust with funds from unknown sources.

Mr Porter sued the ABC for defamation over an article airing allegations of a 1988 sexual assault of a now-deceased woman by a senior cabinet minister.

He vehemently denied the allegations.

Mr Porter stepped down from his frontbench position but was later cleared of any wrongdoing by a powerful parliamentary privileges committee.

But the committee recommended the rules should be updated to uphold the integrity of the members’ register of interests.

It comes after Mr Porter stepped down from the frontbench over a blind trust. Picture: NCA NewsWire / Adam Yip

Essentially, the register is where MPs and Senators place on the public record interests which may conflict, or may be seen to conflict, with their public duties.

It also includes any interests their family may have as well.

However, the new ruling released on Thursday evening does not apply to the entire parliament.

In a statement, Prime Minister Anthony Albanese said the new code delivered on his promise to lead an “open and accountable” government.

“I expect ministers to uphold the highest of standards in both their professional and personal lives,” he said in a statement.

Last month, independent MP Helen Haines renewed her push for a code of conduct for all parliamentarians.

A review into parliament workplaces recommended a code be established for all parliamentarians. Picture: NCA NewsWire / James Gourley

A review undertaken by sex discrimination commissioner Kate Jenkins into the workplace culture at parliamentary workplaces recommended the adoption of a code of conduct for MPs and Senators.

The Albanese government has committed to all of the review’s 28 recommendations.

A leadership task force was formed to address the recommendations in the last term of government and is expected to be reformed when parliament resumes.

A Joint Standing Committee was also established in February, with an aim to develop a code of conduct, but due to the election it was disbanded before work began.

Originally published as Anthony Albanese bars ministers from blind trusts in new code of conduct