Northern Territory Deputy Chief Minister Chansey Paech personally invested in an Alice Springs liquor distribution company just months before advocating for lifting alcohol bans in the region.
An investigation by the NT Independent revealed Mr Paech purchased several shares in Metcash, a central Australian liquor distribution company, in May 2022.
The number of shares is unknown but Mr Paech says they were disclosed.
"I have always complied with the Ministerial Code of Conduct and the Legislative Assembly (Disclosure of Interests) Act 2008," he said in a statement on Tuesday.
"All rules have been followed."
The Arrernte man was attorney-general and minister for Indigenous affairs at the time and was a strong advocate for lifting the 15-year-old alcohol bans in Alice Springs town camps.
He divested his shares when he was appointed deputy chief minister in December after chief minister Natasha Fyles was ousted over her own shares scandal.
Ms Fyles resigned less than 24 hours after it was revealed she held undisclosed shares in South32, which owns the GEMCO manganese mine in the remote community of Groote Eylandt.
Earlier in 2023, Ms Fyles had said the government would not investigate air pollution levels or health impacts after residents raised concerns about manganese dust in the community.
Current Chief Minister Eva Lawler told reporters on Monday she would not be calling for Mr Paech to resign.
"He declared his shares and that was the difference between Natasha and Chansey," she said.
Ms Lawler also announced a review of ministerial conflict of interest controls on Monday, a move she'd promised just days after her predecessor resigned.
"We're reviewing the whole issue around conflicts of interest," she said.
"If the position is that ministers shouldn't have shares going forward ... I'm very happy with that position."
Australian Associated Press