Sir Douglas Graham will not be drawn on whether he will hand in his knighthood, while he appeals a conviction handed down to him for his role in misleading investors of failed company Lombard Finance.
The Lombard collapse, one of many finance company failures between 2007 and 2009, left 4400 investors owed $127 million.
Last month, Sir Douglas and Lawrence Bryant were each sentenced to 300 hours of community work and ordered to pay $100,000 reparation.
Another former justice minister, Bill Jeffries, and Michael Reeves were each sentenced to 400 hours of community work.
The four directors were in February found guilty of making untrue statements about Lombard's position in its offer documents in December 2007.
Following the sentencings former Act leader Rodney Hide called for Sir Douglas to hand in his knighthood, but speaking on 60 Minutes tonight Sir Douglas would not say what he was planning to do with his knighthood.
"I'm not going to make a decision on that at the moment, it would look a bit silly if the subsequent appeal was successful,'' he said.