This is an extract from the KCDC’s Candidate Information Booklet for the October elections which covers the question of councilors’ financial interests within the area. It makes clear that someone who either directly, or though a body corporate, is involved in contracts with the council of more than $25,000 (including GST) in a year is not able to serve as the mayor or as a councilor.
The Act referred to also makes clear in Section 6 that a councilor is “not to discuss or vote on a question in which he has pecuniary interest.”
The problem is that the Act does not specify any method by which other councilors are going to know that — shareholdings and properties can be held in the name of trusts or nominee companies. Clearly there needs to be a compulsory register of councilors’ directly obvious or disguised pecuniary interests in properties and commercial entities within the council’s territory.