Source: ABC News Online

Federal Government Minister Santo Santoro has quit his frontbench position as Ageing Minister.

Senator Santoro from Queensland has been under pressure since breaching the ministerial code of conduct over his share ownership.

It was revealed this week that he held shares in a biotechnology company, but did not declare them on the Senate register.

On Tuesday, Prime Minister John Howard said Senator Santoro did the right thing by donating the profit he made from selling shares he had failed to declare.

He donated the profits from their sale to charity and the Prime Minister said any further action against the Senator would be unreasonable.

"Everybody can from time to time be guilty of inadvertence," Mr Howard said at the time.

But the organisation which received a donation from the sale of shares owned by the federal Ageing Minister said it was not a charity.

The president of the Family Council of Queensland, Alan Baker, says it is a non-profit group with members including the Salvation Army and the Catholic Church.

Senator Santoro is the second Government minister to resign in recent weeks.

Senator Ian Campbell quit as human services minister earlier this month after it was revealed he had a meeting with disgraced former WA premier Brian Burke.