Minister of State for Equality Seán Power said yesterday that his failure to declare mining shares in the Register of Interests of Members of Dáil Éireann was, "a mistake on my behalf and I attempted to rectify it as soon as I could".
He was responding to a report in the Irish Mail on Sunday that he had bought 26,000 shares in Ivernia West Inc in February 2003 and sold them last November at a profit of €18,694.
Under legislation, shares worth more than €13,000 have to be declared. Mr Power initially declared them at time of purchase, when they were worth less than €13,000.
Shortly afterwards the value of the shares rose above the threshold but Mr Power did not register them again until last month.
The Kildare South TD and Minister of State at the Department of Justice said yesterday: "I bought shares in Ivernia West in 2003 and declared them in my register of interests for that year. The cost was a little over €4,000.
"Last year it came to my notice that the value had increased significantly and I contacted the clerk of the Dáil to see how I could amend my declaration of interests for subsequent years. It was a mistake on my behalf and I attempted to rectify it as soon as I could," he said.
Fine Gael deputy leader and finance spokesman Richard Bruton said: "Clearly if the rules have been breached there will have to an investigation by the Standards in Public Office Commission."
