Earlier this month, Queenstown Lakes District Council candidate Niki Gladding complained to the council Mr Boult - who is chairman of tourism company Wayfare - had not declared a conflict of interest during discussions on airport development and the council's proposed visitor levy.
A council spokesman said Mr Holm - who is the independent chairman of the council's elected member conduct committee - had met with chief executive Mike Theelen and council lawyer Alice Balme to discuss Ms Gladding's complaint.
"He has yet to provide a formal view on the allegations," the spokesman said, and would be discussing the matter with Ms Gladding to "understand the scope of her concerns".
"Once he has done that we anticipate he will be making his recommendations to Mike Theelen in respect of determining next steps."
The council's website shows the conduct committee comprises the chairman and two elected members and is responsible for deciding if a complaint should be upheld and what action should be taken.
It is able to conduct hearings - either public or in private - into breaches of council standing orders or its code of conduct.
The council's website notes a conflict of interest occurs where "a member's or official's duties or responsibilities to a public entity could be affected by some other interest or duty that the member or official may have".
The Auditor-general's office notes breaching the rules is a criminal offence.
"Disqualification from office is automatic if a person breaches the contracting rule, or if a person is convicted of having participated in matters in which they had a pecuniary interest."
Ms Gladding said she had the option of taking her complaint to the auditor-general if she was not satisfied with the council process.
