Island has sparked the ire of local and international businesses.

The Bermuda International Business Association (BIBA), the Bermuda Stock Exchange (BSX) and others claim the incorporating bill is an anti-competitive attempt to corral electronic commerce into the company's exclusive domain.

While a representative of the company has said the protesters have got their facts all wrong, the companies have filed letters to kill the bill with the Ministry of Finance.

"The bill is outrageous,'' BIBA chairman Glenn Titterton said in an interview.

Lim's husband to head planned e-commerce exchange "The private members' bill seeks to pre-empt a number of features being proposed by public legislation which should not be controlled by a private company. It is contrary to the spirit of developing electronic commerce on the Island.'' In another development the sole shareholder listed on the register of KOL Ltd., the company putting forward the bill, is William Lim. Mr. Lim is the husband of Telecommunications Commission chairman Ellen Lim.

Ms Lim also gave a presentation on behalf of Bermuda-based XL Capital Ltd.

touting the benefits of the World E-commerce Exchange before the Ministry of Finance.

Ms Lim, who works as XL's chief technology strategist, said XL was considering an investment in the World E-commerce Exchange. She said the possible investment is only "one among many'' being considered by XL in the electronic commerce arena.

She denied there was any conflict of interest in her role as chairman of the Telecommunication Commission and said her husband's was only listed as a shareholder for convenience.

Ms Lim said full disclosure of her husband's role had been made in presentations to the Bermuda Monetary Authority, the Ministry of Finance, the Telecommunications Minister and others involved in the process of incorporation.

She said the company's founders asked him to list his name so as to register the company until contracts were signed.

"It's not intended that he has a long term role in the project. The management team has not been constructed yet. He's not a founder, more of an employee. The group of strategic partners asked him to do it on a temporary basis.'' The BSX has also sent the Ministry of Finance a complaint against the bill.

Chief executive officer William Woods said the bill seeks to gain exclusive rights to operate an electronic commerce exchange for five years.

He said the definition is not clearly spelled out and is a direct challenge to BSX's operations. The BSX currently operates only electronically. The bill would also be against other electronic initiatives the BSX has embarked upon.

Lawyer Lynda Milligan-Whyte, an investor in the cyberspace venture, said those complaining had headed off in the wrong direction. "The company will facilitate electronic commerce not to exclude anyone,'' she said. "It's a facility for electronic commerce to occur in a secure environment.'' She said the company's proposals won't conflict with electronic commerce legislation currently being drafted. She also said the proposal to administer the ".bm'' domain name was an attempt to speed up the registration process so new companies could get on the Internet faster.

The ".bm'' affix to an Internet name refers to a Bermuda company. The affix is currently administered by the Bermuda College. Ms Milligan-Whyte said the group is currently in negotiation with Bermuda College.

The company will administer and charge for the use of ".bm'' and in return pay a fee to the college. Apparently the proposal is the money will be used to set up an education fund.

Internet provider North Rock Communications is also among those protesting. It is understood that Logic Communications and the Bermuda Telephone Co. Ltd.

have also lodged protests.