personal investment holdings company called Millpoint Ltd.

Although the objects of the company are wide reaching, Mr. Lines said he was not about to go into the investment advisory business.

The many services the company wants to be allowed to provide would be rendered mostly to his own holdings, he said, although Millpoint would also be able to deal with outside interests.

"What I'm doing is gearing myself up to when I retire,'' said Mr. Lines, who is due to retire from the Bank of Bermuda next year.

"I'm putting most of my holdings into one company. This company will be the employer of Donald Lines, if you like. It gives me powers to do some of the things which I want to do and allow me to pace myself and do things at my own leisure.'' Mr. Lines has considerable private investments, ranging from insurance to computers to trading.

As managing director of Bermuda Management Holdings, which has a controlling 50 percent interest in Masters and owns 70 percent of Bermuda Computer Services, he has a say in some of Bermuda's best-known companies.

Millpoint's objectives include being allowed to provide various advisory, consultation, accountancy, administration and management services to companies, estates, trusts, partnership and individuals located in Bermuda and abroad.

The company is also seeking the right to invest in various securities, to establish companies, to acquire property outside Bermuda and to develop and manage property "wherever situated''.