Amendments to three Acts aimed at ensuring Bermuda’s financial industry frameworks are up to international standards have been passed in the Senate.

The Bermuda Monetary Authority (Determination of Appeals) Act, the Money Service Business Act and the Insurance Amendment Act intend to keep the island ahead of the game in tackling money laundering and terrorist financing. They were read out by Senator Jeff Baron, the Minister of National Security, and passed with no objections.

An amendment was also passed providing duty relief on materials intended for the development of a marina in St George’s.

The Customs Tariff Amendment Act is intended for materials to be used for the structure and facilities of the marina.

The move will provide a welcome boost to the coffers of the Corporation of St George, reducing its reliance on government funding and ensure the retention of St George as a Unesco world heritage site.

It should also help to prevent storm surge.

Senator Renee Ming, of the Progressive Labour Party, described the marina development as “a welcome entity in the town”.

Senator Michael Fahy, the Minister of Tourism, added: “If you build it, they will come.”