Parliament passed draft amendments yesterday to add new licensing fees for companies seeking Government certification to issue digital certificates to make on-line transactions.

Government intends to charge a fee of $10,000 for the initial application to the Ministry of Telecommunications and E-Commerce and $5,000 yearly for renewals as Certified Service Providers under the provisions of the Electronic Transactions Act.

Finance Minister Eugene Cox said the the proposed fees were lower than similar fees in the United Kingdom which are roughly ?15,000 to ?20,000.

Minister Renee Webb said Government would not see any revenue from the fees, however, as the auditors processing the applications are charging $9,800 for each one. She added it is hoped that charge would come down as processing increases in volume.

A number of companies have expressed interest in certification, Ms Webb added, including Bank of Bermuda and accounting firms KPMG and PricewaterhouseCoopers (PWC).

And Bermudian firm Quo Vadis is already being assessed for certification.