Members of the Private Bills Committee have decided to continue discussing four controversial private bills next week.

At its meeting on Tuesday the eight-member committee spent about three hours tussling over the bills put forward by The Bank of Bermuda and by Bermuda Properties Ltd. but reached no conclusion on the issues.

Further discussion is scheduled for Tuesday and Thursday of next week. Bank of Bermuda Chief Executive Officer Henry Smith and a Bermuda Properties representative have been invited to make presentations.

The other two bills have been put forward by Belco (Holdings) Ltd. and First International Citizens' Bank of Bermuda.

The Private Bills Committee makes recommendations to the House of Assembly about whether a particular bill should be passed or not.

The Bank of Bermuda's bill is an attempt to seek exemption from the Island's law prohibiting foreign ownership above 40 percent in a local company.

The Bermuda Properties bill if passed the bill would allow the company to sell or dispose of its Tucker's Town land.

Belco's bill is an attempt by the power utility to gain exemption from a rule limiting a company from holding equity in a local company unless it is at least 80 percent owned by Bermudians.

The First International bill is an attempt to set up a proposed "people's bank'' in Bermuda to compete with the two established retail banks.

BUSINESS BUC