Jeremy Hunt breached anti-money laundering legislation brought in by his own government when he set up a company to buy seven luxury flats, The Telegraph can disclose.

The Health Secretary, who has a personal fortune of more than £14 million, initially failed to declare his 50 per cent interest in the property firm to Companies House - a criminal offence punishable by a fine or up to two years in prison.

Mr Hunt also failed to disclose his interest in the property firm on the Parliamentary Register of Members’ interests within the required 28 days.

He later corrected the errors. On Thursday night he apologised to the parliamentary authorities after accepting the mistakes were “his responsibility”.

Mr Hunt retains the backing of Theresa May, as the Cabinet Office has ruled that he did not breach the Ministerial Code of Conduct. But he could still face investigation by the Commons’ Committee on Standards and Privileges, which polices the conduct of MPs.

A Downing Street spokesman said: “Jeremy has rightly apologised for an administrative oversight, and as the Cabinet Office have made clear there has been no breach of the Ministerial Code. We consider the matter closed.”