Assembly Members must reveal if they employ relatives or hold second jobs under a new code of conduct unveiled at Stormont today.

The new measures also attempt to tackle offensive remarks by politicians, but while all parties backed the new code, some MLAs said it could have gone further.

Politicians expressed hopes that the code will help build public confidence in the work of the Assembly and revealed that MLAs who breach it face suspension without pay.

The new code of conduct was presented to the Assembly by the cross-party Committee on Standards and Privileges after two years of work.

Committee chair Carmel Hanna (South Belfast) said: "It has never been more important to ensure that we have public trust and confidence in the integrity of elected representatives.

"This new code of conduct agreed by the Assembly will provide a more transparent system to ensure that MLAs put public interest ahead of their private interests.

"It will establish openness and accountability as key elements of the code and will maintain the integrity of the Assembly by holding members to the high ethical standards expected of them by everyone in Northern Ireland."

The code will come into effect in October and will dovetail with work still ongoing at the Assembly on public access to details of the finances of individual MLAs.

The code means MLAs must:

• Register all outside earnings and the time they spend on these posts
• Register family members employed using public money
• The Assembly will be able to suspend Members without pay if they breach the code.

Sinn Fein's Francie Brolly expressed concerns over how the system will operate when committee members are asked to make rulings on the conduct of fellow MLAs.

The East Derry representative commended the introduction of the code but said he would have been happier if its provisions were more tightly drawn and said there should have been stronger powers to oversee ministers.

Assembly members making offensive remarks could be called before the committee, with the new code including four new principles covering respect, equality, promoting good relations and good working relationships.

The Green Party's Brian Wilson expressed concerns free speech would be hindered.

But the DUP's Jonathan Craig (Lagan Valley) said: "If any member makes a racialist or a hatred speech outside of this chamber they will be brought to book, so all freedoms are limited."

His party colleague, Ian Paisley Jnr, noted however that the right to the freedom of expression was still protected.

"It's not what you believe, but it's how you say your beliefs which is important," said the North Antrim MLA.

"And I think that it is the craft of politicians to be able to get round those issues and be able to say things in a way which does have meaning but which does not impinge on their freedom to hold certain beliefs."

He added: "It also shows that as long as you don't actively encourage people to break the law, then again these rules are for you. But if you do actively encourage people to break the law then you will find yourself punished by these rules."

On the wider issue of Assembly Members' conduct, Mr Paisley cited his own experience of the investigating process.

He had faced probes over his links to property developer Seymour Sweeney, but the DUP politician said he was cleared of wrongdoing, though nevertheless signalled he had suffered attacks on his reputation.

"We've had people's reputations dragged through the mud for one reason and one reason only to score the cheapest, lowest, dirtiest, meanest, nastiest complaints possible against individuals in this House and their character," he said.

"For what? For a couple of cheap votes that they will never ever get.

He said he hoped the new code would defend the Assembly's reputation but also protect members from unfair criticism.

"I believe most members of this House come to this House to do one thing, to serve the people," he said.

"And by golly, we may disagree with each other, and there's nothing wrong with that, but we are here by virtue of the fact that we want to serve the people."

The SDLP's Declan O'Loan, while he also broadly welcomed the measures, said they could have gone further.

He said public trust had been damaged by some events in the Assembly, but also by the scandal over MPs expenses at Westminster.

"There is undoubtedly work to be done and ground to be regained," he said.

"There needs to be a climate of total transparency, clarity and accountability.

"In that light I welcome and support the code of conduct and the accompanying guide.

"I don't think the public will be hugely struck or impressed by this code.

"They might be looking for more and there is more which needs to be done which is outside the realms of the code."

Sinn Fein deputy chair of the committee Willie Clarke said the measures were being put in place to help address the concerns held by the public.

"This new code with its twin focus on increased openness and increased accountability is a hugely significant step in addressing these concerns," he said.