Rules that will limit MEPs’ conflict of interest between their political jobs and private work will be ushered in early next year.

The move follows a series of scandals involving the taking of bribes to lobby for private companies.

A new code of conduct was approved by the European Parliament’s Constitutional Committee and is expected to be endorsed by the plenary on December 1.

MEPs will have to abide by the transparency rules from the beginning of next year.

Although the code still allows MEPs to have second paid jobs apart from working full-time in Brussels, they will now have to declare all the remuneration, even if it is just lecturing, and they will also be obliged to refuse any gift worth more than €150.

The code also establishes rules for former MEPs who start doing lobbying jobs at the end of their political career. They will be deprived of a raft of benefits, including handsome allowances, if they choose to ignore the rules.

The parliament will be able to impose sanctions against members breaching the code.

According to research carried out by three pro-transparency NGOs in Brussels earlier this year, 35 per cent of MEPs from 13 member states have second jobs, many of which have the potential to bring about a conflict of interest.

Among the five Maltese MEPs, the NGOs said only Labour’s Edward Scicluna had “raised eyebrows” in the international media over a “potential conflict of interest” as a non-executive chairman of two investment funds with links to HSBC and his role as vice-chair of the EP’s Economic and Monetary Affairs committee.

Prof. Scicluna had denied any conflict of interest when these allegations were made.