Today I wrote to the Acting Prime Minister to bring to her attention an issue associated with my Ministerial responsibilities in overseeing the Australian Securities and Investments Commission (ASIC).
It was brought to my attention late yesterday that two members of my extended family have investments with Lift Capital Partners.
To avoid any appearance of a conflict of interest I immediately informed the Acting Prime Minister that both I and my office will now play no further role in the Government's response to this particular case.
I and my immediate family have no personal interest or investment with this company.
The Treasurer will now have carriage of this matter.
All of my other duties in relation to ASIC will continue unaffected.