Members of the Executive Council (Cabinet Ministers) may not own certain assets or engage in certain activities. These restrictions also apply to the Leaders of all recognized Opposition parties. This section describes those restrictions.

Shares in private corporations
Cabinet ministers and the Leader of a recognized Opposition party may not hold or trade in securities or stocks that are not listed on a recognized stock exchange. When they become Cabinet ministers or an Opposition Leader, they have 90 days to do one of the following:

• dispose of those assets;
• place those assets into a trust approved by the Ethics Commisisoner (sometimes called a blind trust); or
• obtain the approval of the Ethics Commissioner to keep those assets.

The Ethics Commissioner may allow these assets to be kept if:

• the Minister or Opposition Leader has disclosed all material facts to the Commissioner;
• the Commissioner is satisfied that the activity, if carried on in the specified manner, will not create a conflict between their private interests and their official powers, duties or functions:
• the Commissioner has approved the Minister or Opposition Leader being engaged in the activity and has specified the manner in which the activity is to be carried out; and
• The Minister or Opposition Leader carries out the activity in the specified manner.

Speculative assets
Cabinet Ministers and the Leader of a recognized Opposition party may not hold or trade futures or commodities for speculative purposes. When they become Cabinet Ministers or an Opposition Leader, they have 90 days to do one of the following:

• dispose of those assets; or
• obtain the approval of the Ethics Commissioner to keep those assets.

These assets cannot be placed into a trust.

The Ethics Commissioner may allow these assets to be kept if:

• the Minister or Opposition Leader has disclosed all material facts to the Commissioner;
• the Commissioner is satisfied that the activity, if carried on in the specified manner, will not create a conflict between their private interests and their official powers, duties or functions:
• the Commissioner has approved the Minister or Opposition Leader being engaged in the activity and has specified the manner in which the activity is to be carried out; and
• The Minister or Opposition Leader carries out the activity in the specified manner.

Operating a business

Cabinet Ministers and the Leader of a recognized Opposition party may not engage in the management of a business carried on by a corporation or carry on business through a partnership or sole proprietorship if doing so is likely to conflict, or be seen to conflict, with their official powers, duties or functions. When they become Cabinet Ministers or an Opposition Leader, they have 90 days to do one of the following:

• cease managing or carrying on the business;
• dispose of their interest in the business;
• place their interest in the business into a trust approved by the Commisisoner (sometimes called a blind trust); or
• obtain the approval of the Ethics Commissioner to continue the activity.

The Ethics Commissioner may allow the activity to be continued if:

• the Minister or Opposition Leader has disclosed all material facts to the Commissioner;
• the Commissioner is satisfied that the activity, if carried on in the specified manner, will not create a conflict between their private interests and their official powers, duties or functions;
• the Commissioner has approved the Minister or Opposition Leader being engaged in the activity and has specified the manner in which the activity is to be carried out; and
• The Minister or Opposition Leader carries out the activity in the specified manner.

Engage in employment or the practice of a profession

Cabinet Ministers and the Leader of a recognized Opposition party may not hold employment outside of those roles and may not carry on the practice of a profession. However, there is an exception for engaging in the employment or in the practice of the profession where it is necessary to maintain qualifications in a profession or occupation. For example, if a profession requires a person to work a minimum number of hours in order to retain their licence to practice, then the Cabinet Minister or Leader would be allowed to work those hours.

The Ethics Commissioner may also allow the employment or practice of the profession if:

• the Minister or Opposition Leader has disclosed all material facts to the Commissioner;
• the Commissioner is satisfied that the activity, if carried on in the specified manner, will not create a conflict between their private interests and their official powers, duties or functions;
• the Commissioner has approved the Minister or Opposition Leader being engaged in the activity and has specified the manner in which the activity is to be carried out; and
• The Minister or Opposition Leader carries out the activity in the specified manner.

Hold an office or directorship

Cabinet Ministers and the Leader of a recognized Opposition party may not be an officer or director of any organization. However, there are two exceptions. The position may be held if:

• holding the office or directorship is one of the Cabinet Minister's duties as a member of the Executive Council, or
• the office or directorship is in a social club, religious organization or political party.

As with the previous restrictions, the Ethics Commissioner may also allow the office or directorship to be held if:

• the Minister or Opposition Leader has disclosed all material facts to the Commissioner;
• the Commissioner is satisfied that the activity, if carried on in the specified manner, will not create a conflict between their private interests and their official powers, duties or functions;
• the Commissioner has approved the Minister or Opposition Leader being engaged in the activity and has specified the manner in which the activity is to be carried out; and
• The Minister or Opposition Leader carries out the activity in the specified manner.

Terms of an approved trust

In order for a Cabinet Minister or Opposition Leader to place assets into a trust, the following conditions must be met:

• The provisions of the trust must be approved by the Ethics Commissioner.
• The trustees must be at arm's length from the Cabinet Minister or Opposition Leader and must be approved by the Ethics Commissioner.
• The trustees must not consult with the Cabinet Minister or Opposition Leader about managing the assets in the trust, but they may consult with the Ethics Commissioner.
• Within 90 days after the formation of the trust, and annually afterwards, the trustees must provide the Ethics Commissioner with a confidential report, in a form acceptable to the Ethics Commissioner, disclosing the interests contained in the trust.

The Cabinet Minister or Opposition Leader is entitled to be reimbursed by the Ethics Commissioner for the reasonable costs associated with establishing and administering the trust, as those costs are approved by the Ethics Commissioner.

Assets that are placed in an approved trusts are not included on the disclosure of assets, liabilities and income that are made available to the public. However, the disclosure statement will indicate whether or not a trust has been established.