Michael Wood has resigned as a Minister, Meng Foon as the Race Relations Commissioner while Prime Minister Chris Hipkins tries to get on with business.

Meanwhile, yet another investigation is taking place into Oranga Tamariki following revelations two staff members have been stood down for inappropriate sexual behaviour.

News broke Wednesday afternoon that Michael Wood had resigned as a Minister after he revealed to the Prime Minister he did in fact have more conflicts he should have disclosed - namely shares in the parent company for BNZ, and in telecommunications companies Chorus and Spark.

This was while Wood was involved in a Cabinet decision that led to a banking inquiry and overseeing changes on the green list as Immigration Minister that led to telecommunications technicians being given the green light.

Wood left Parliament early that day and headed home, saying in a statement: "There has not been a second of my political career where any of my financial interests have influenced my actions or even crossed my mind. In some respects my de-prioritisation of my personal financial affairs has led to this situation."

The Prime Minister has committed to tightening up rules for Ministers in response, including more regular reporting and conflicts of interest being on every cabinet agenda.

It comes after a string of Ministerial mishaps, one in which involved political donations from Meng Foon, the now former Race Relations Commissioner.

1News revealed Meng Foon had resigned Friday last week, but Foon himself maintained he had not formally resigned until Monday.

Also this week, an unexpected press conference called by Oranga Tamariki where allegations of sexual misconduct by staff were outlined.

Following this, another young person came forward with another allegation against a staff member at a Youth Justice Residence.