Legislation to increase Bermuda’s debt ceiling is expected to be debated today in the first sitting of the new session of the House of Assembly.

The Government Loans Amendment (No 2) Act, tabled in September, will increase the debt ceiling by $250 million to $2.75 billion.

Government said the increase was needed because of the $170 million purchase of Government-guaranteed loans for the stalled Caroline Bay resort development.

MPs are also expected to debate the Casino Gaming (Miscellaneous) Amendment Act, designed to strengthen the island’s casino gaming regulations.

Also on the schedule for debate are the Incorporated Segregated Accounts Company Act and the Misuse of Drugs Hemp Amendment Act.

The first piece of legislation will introduce a regime for the registration of incorporated segregated accounts companies.

The second will create a legal distinction between cannabis products and hemp products to allow the legal importation and sale of hemp.

David Burt, the Premier, earlier announced that the members of a Commission of Inquiry into historic land losses in Bermuda, a cause championed by the late MP Walton Brown, will also be revealed today.