I think that the Conflict of Interest and Ethics Commissioner should advise how elected MPs and cabinet ministers can avoid apparent conflicts of interest as well as real conflicts of interest. The public doesn't understand the difference between the two; it's pretty arcane for them. If you're found to be in an apparent conflict of interest, in the public eye, it's almost as bad as being in a real conflict of interest, and sometimes worse.
Yes, I think the act should include both. The penalties for being in an apparent conflict of interest shouldn't be as severe as those for being in a real conflict of interest, but I think all politicians need to make sure that they avoid those as well.
As I mentioned earlier, it's something your committee should look into. If the act is going to be amended to include apparent conflicts of interest, it's important to know how this can be done in the most effective way.