set to be struck of the Register of Companies.

Bermuda Financial Centre Ltd. (BFCL) is one of a host of firms listed in last week's official gazette as being on Government's chopping block.

The official notification under the Companies Act said: "The Registrar of Companies has reason to believe that the companies specified. ..are not carrying on business or in operation.'' And it added: "Notice is hereby given that at the expiration of three months from the date of publication of this notice, the companies listed in the attached schedule will, unless cause is shown to the contrary, be struck off the Register and will be dissolved.'' BFCL lost an appeal in June against a plan hatched jointly by ACE/EXEL to build new corporate headquarters for the two insurance giants from the exempt company sector.

The rival BFCL bid envisaged a hotel and office space on the site and got planning permission -- but the firm failed to raise the cash to get on with the work.

Earlier, English businessman Peter Clayton took over the firm and resurrected the plan, lodging the eleventh hour appeal in a move designed to thwart ACE and EXEL. Company spokesman Glynn Shouldice said in July that "potential opportunities'' in the hotel and leisure industry existed -- but outside Bermuda, although he said the company would continue to be Island-based.

The plan fitted in well with Mr. Clayton's London-based Financial Placements Ltd., which is involved in tourist projects in the Caribbean, North America and Europe.

BUSINESS BUC