their financial interests.

But maverick United Bermuda Party MP Trevor Moniz , who campaigned for the list, believes some MPs will hide their shares and property dealings under the names of their spouses and dependent children, who are not covered by the register.

Mr. Moniz believes he has been frozen out by the UBP for pushing for the register.

He has been pushing for three years to force MPs to disclose all their financial interests to remove the suspicion that legislators have secret conflicts of interest when voting.

He told the House of Assembly on Friday that both parties had agreed to the register, which will have to be completed by the next session of Parliament in November.

MPs will now have to declare in a publicly-accessible register directorships and shares of more than $50,000 in individual companies.

MPs and their spouses will have to declare any overseas trips paid by others, and overseas benefits and gifts.

But MPs wives and their dependant children will not be covered by the register of land ownership and shareholding.

Mr. Moniz told The Royal Gazette : "The loophole is that so many people put their property into trust and not be named themselves as the beneficiary.

"If people take that route it could undermine the credibility of the register and then you get people outing people.'' When asked if he thought MPs will now transfer shares and land ownerships into the names of their spouses and children, he said: "Yes, absolutely.

"No-one wanted this and they haven't resisted this for three years because they thought it was funny.

"I was trying to force something through that people want to go away, but it is not going to go away because it is the way of the world.

"Requirements for integrity in public life have reached that level and we have to catch up with it.

"I am happy that both sides have come together to move forward. That is positive, but there is no doubt in my mind we will have to fine tune the register as we are going along.'' Progressive Labour Party MP Dale Butler , who joined Mr. Moniz in the joint select committee on a registers of members' interests, said: "This is a very progressive move.

"I commend Mr. Moniz for bringing the sides together. The world has moved in this direction of Members of Parliament declaring interests. Although we are running late, it is a positive thing.'' Overdue: Dale Butler Loophole: Trevor Moniz