some of the details of a confidential annex the Government had signed with the Organisation for Economic Development (OECD).

It is still not known exactly what the Government has signed up to so that it can avoid being placed on a damaging list of `tax havens'.

During his speech, Mr. Cox outlined what he called "an expanded, but carefully planned integration'' of the domestic economy into the global one.

In effect the Government has pledged to: Exchange information about tax in Bermuda with other nations.

Introduce legislation for local and international companies to file or audit company accounts and make them available to Bermudian authorities.

Keep the same tax system.

Allow international companies to participate in previously sheltered sectors of the economy -- subject to considerations for small businesses and for strategic or national concern. These sheltered sections have not been named.

Implement recommendations made by an advisory committee made up of individuals from both private and public sectors by 2003 for financial sector and 2005 for other businesses.

HOUSE OF ASSEMBLY HOA