The Bank of Bermuda has been told by senior British officials that it would be unwise for the Island to consider Independence until after 1997.

Bank chairman Mr. Eldon Trimingham made that statement in a controversial speech on Wednesday in which he warned that international companies could leave an Independent Bermuda.

But a senior Cabinet Minister said he had been given no indication of that kind on a recent fact-finding trip to London.

The speech also drew fire yesterday from the Committee for the Independence of Bermuda, which accused Mr. Trimingham of being "irresponsible'' and of spreading "emotional rhetoric''.

On Wednesday, Mr. Trimingham said it would be impossible for Britain to even hint at "giving more'' to the Island, at least until Hong Kong is no longer a British dependent territory.

"In numerous discussions at many levels with senior UK officials... we have been told firmly, but quietly if you like, that we would be most unwise to make any decision toward independence prior to the 1997 change of status of Hong Kong,'' he said.

He declined to be more specific about who the officials were or whether they represented the British government.

An Independent Bermuda may get enhanced rights for Bermudians to reside and work in the UK and possibly the European Union but extending them now could be politically disastrous as it may prompt Hong Kong to ask for a similar concession, he said.

"With Hong Kong gone, there will be less than 150,000 people in the entire dependent territories to worry about ... other jurisdictions like the Falklands and Gibraltar already have rights,'' he added.

British Conservative MP Mr. Rupert Allason had indicated once Hong Kong was not a concern, Britain may give other dependent territories the right to live and work post 1997.

This position differs from that of Deputy Premier the Hon. Irving Pearman, preparing a Green Paper on independence, who said earlier this month that he received no indication from British Foreign Secretary that a changed relationship was possible after 1997.

"I was not told it would best to keep quiet until 1997 when something might be in the bag,'' Mr. Pearman reiterated yesterday.

The Committee for Independence said in statement yesterday: "While Mr.

Trimingham wishes to link Bermuda to the Caribbean he should note that there is not a single country with a similar history to Bermuda which has moved to independence and then suffered political instability.

"Unfortunately the bank chairman's comments amount to little more than emotional rhetoric unbecoming the head of Bermuda's largest corporate entity.

And his anti-American posturing does little to help our tourism and international business industries,'' the committee said in a press release.

It also plans to invite Mr. Trimingham to debate the issues.

"We are inviting him to respond through the media and if he chooses not we will contact him personally,'' said Mr. Walton Brown, chairman of the independence committee.

Locally, the business community believes Independence will not occur but overseas, "the jury is still out'', Mr. Trimingham said in his speech.

Mr. Trimingham cited Panama, Barbados and Hong Kong as examples of what happens in connection with pending or realised independence.

When the Americans pulled out of Panama, the British Virgin Islands (BVI), Cayman and to some extent, Bermuda benefited as the Panamanian offshore financial industry exited that country, he explained.

There are countries which have built up stable international business sectors, Mr. Trimingham said. But one of them, Singapore, was long past the trauma of "independence'', he added.

And he noted that BVI has been successful in establishing itself as an offshore financial centre in recent years while Independent Caribbean countries such as Barbados have enjoyed less success.

Bank chairman questions viability of tourism -- Page 27.