A new bill aimed at pushing Bermuda to the forefront of the electronic shopping revolution has been tabled in the House of Assembly.

The 32-page proposed law is designed to set up the legal framework for e-commerce -- computer-based buying and selling.

And the bill lists a five-point series of aims for the new law, said to be one of the first of its kind in the world.

The Electronic Transactions Act 1999 says: "The objects of this Act are to enhance the reputation of Bermuda as an international business centre.'' It adds that the new law should allow electronic transactions to take place using "reliable electronic records.'' The Act also aims to "remove uncertainties in relation to conducting transactions electronically with respect to the requirements for documents and for signatures to be in writing.'' Other stated aims are "to promote public confidence in the validity, integrity and reliability of conducting transactions electronically and to promote the development of the legal and business infrastructure necessary to implement electronic transactions securely.'' The Act added that the regulations governing the hoped-for lucrative e-commerce market are to be aimed at a light touch.

The proposed law said it would be left up to "free market forces'' to help the industry grow within a framework which "promotes the greatest possible use of industry self-regulation''.

And industry players will be left to draw up a code of conduct to govern themselves -- although the Minister of Telecommunications will have final approval.

The Act adds: "An intermediary or e-commerce service provider who fails to comply with an approved code of conduct or appointed standard, shall in the first instance be given a written warning by the Minister and the Minister may direct that person to cease and desist or otherwise to correct his practices.'' But the Act reserves the power to fine a provider $5,000 a day if problems are not sorted out within a specified time.

And an e-commerce Advisory Board drawn from technology experts will also be set up to assist the Minister in policing computer trade.