The minister blamed “honest administrative mistakes” for not notifying Companies House or the parliamentary register of MPs’ interests of his share in the business.
Hunt took six months to declare his 50% interest in Mare Pond Properties Limited, which was set up to buy seven properties in Southampton in February, according to the Daily Telegraph.
It is claimed he did not inform the parliamentary register of members’ interest in the business, which was set up with Hunt’s wife, within the 28-day limit.
A spokeswoman for Hunt reportedly said: “These were honest administrative mistakes which have already been rectified. Jeremy’s accountant made an error in the Companies House filing which was a genuine oversight.”
She also noted that the Cabinet Office has been clear there has been no breach of the ministerial code with respect to ministerial and parliamentary declarations.
She explained that Hunt declared the interest after the company was set up and was advised that as it was a shell company with no assets or value, it should only be registered when it became operational.
“As such, Jeremy presumed the same rules applied to parliamentary declarations. Although there was no personal gain involved, Jeremy accepts these mistakes are his responsibility and has apologised to the parliamentary authorities,” she added.