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Report from the House Briefs, March 11, 2004

Residents will no longer have to be out of the country for 72 hours before getting relief on duty.Senate yesterday passed new legislation, which Government Sen. Raymond Tannock said would allow Customs to spend more time on drugs interdiction.Senate also heard it would save Customs officers having stressful arguments with passengers who might arrive back on the Island one hour before the 72 hour deadline.

Residents will no longer have to be out of the country for 72 hours before getting relief on duty.

Senate yesterday passed new legislation, which Government Sen. Raymond Tannock said would allow Customs to spend more time on drugs interdiction.

Senate also heard it would save Customs officers having stressful arguments with passengers who might arrive back on the Island one hour before the 72 hour deadline.

Payment for registering trademarks will be harmonised after Senate passed new legislation.

Senate heard there were three different prices charged for changing the name of a trademark, an address and the applicant?s name even though it took the same amount of time.

This often led to the wrong fees being paid and unnecessary Civil Service work processing refunds.

In most cases, fees will go up five percent ? although some go down ? in a move that will net Government $630,000 in the coming financial year.

The new Government Fees (Trade Marks and Service Marks) Amendments, which were passed unanimously, will keep Bermuda competitive internationally, said Government Sen. Raymond Tannock.

Banks and deposit companies will now pay their fees directly to Bermuda Monetary Authority rather than Government as part of moves to ensure the independence of the Island?s financial regulator.

Currently, companies pay their annual fees totalling $3.5 million to the Accountant General?s office.

But as a result of Senate passing the Banks and Deposit Companies (Fees) Act 2004 yesterday, the money will go direct to the BMA from January next year.

Government Sen. Raymond Tannock said the changes arise out of expected recommendations which will come from last year?s International Monetary Fund review of the Island.