The appointment of former transport minister Mac Maharaj to FirstRand's board of directors soon after leaving government has rekindled the debate on the merits of a cooling-off period before ministers, MPs or senior public servants take up employment in the industry they were dealing with in their portfolios.

The cooling-off period is a rule in other countries. It is meant to prevent a conflict of interest or corruption. An example would be when a senior official leaves government service with inside knowledge that could be used to help a new employer gain government contracts.

Several senior public servants have raised eyebrows by resigning to join a company they had dealt with while in government.

Maharaj yesterday said he was in favour of a cooling-off period but first wanted a debate involving the government, labour and ordinary citizens.

"In 1999, when I left government, I announced I would not join the transport sector for at least six months." He said he had suggested his government colleagues apply the same rule.

But, he said, he could not prescribe the length of the cooling-off period. "Here we are dealing with some people who fought for their entire lives.

"There are members of parliament who have never earned an income and who, on retirement will get a pension of only R2 000 a month. For how long should they have to live on that?"

FirstRand would welcome a debate, said chief executive Laurie Dippenaar

With acknowledgements to Edward West, Wiseman Khuzwayo and the Business Report.