interests -- if they agree to set up a new register.

It is expected that a report recommending setting up a Register of Interests will go before the House of Assembly in the coming sitting.

If approved MPs will have to write down interests such as paid directorships, shares held and substantial gifts, in a public record.

The Register of Interests was suggested last year by Government backbench MP Trevor Moniz and has since been under investigation by the Joint Select Committee on the Register of Members Interests.

A register, he said, would help address rumours and concerns about any conflicts of interest with MPs.

Mr. Moniz said a draft report had been completed and it was hoped MPs will debate the final report ready in the next sitting, which begins next Friday.

"We have a draft report and the members of the committee will get back together to tidy it up to present it to the House,'' he said. "We should be able to table the report during the next sitting.'' The committee has studied other jurisdictions where a register exists, including Canada, the UK, the Isle of Man, the Caymans and the Turks and Caicos.

If it was adopted MPs would have to publicly detail their interests in a book, declaring items including financial sponsorship as a candidate or MP, gifts over a certain value and overseas visits funded by private interests.

It would also include payments from foreign governments, agencies or individuals, land and property owned and companies in which the MP has, either by himself or with a spouse, a certain amount of shares.

MPs now have an obligation to declare an interest and it up to the Speaker to decide if the MP can take part in and vote on the debate.

Mr. Moniz added: "All the register does is make transparent information which is normally accessible in any case.

"Once we know what everyone's interests, are it is a judgment call to see if a member's interest is of such magnitude it effectively disqualifies them from taking part in the debate or voting.'' The possibility of a register comes in the wake of decisions by two Ministers not to vote on the private Bermudiana Site Rehabilitation Bill which clears the way for ACE and Exel Ltd. to buy the hotel property.

Environment Minister Pamela Gordon is a director of Argus, which is selling the land, and Health Minister Clarence Terceira is vice president of the Bermuda Commercial Bank which helped broker the deal.

The PLP is not revealing its stance on the Bill. It is not known what effect the Ministers' decision will have on the vote.