Telecommunications and E-Commerce Minister Renee Webb told e-commerce conference attendees in London on Monday night.

And the 1999 Electronic Transactions Act, which laid a strong foundation for conducting e-commerce on a technology neutral basis, was being used as a model for other jurisdictions who had begun drafting theirs, she said.

The legislation was developed in close partnership with the private sector and provided for a high degree of self-regulation while remaining flexible enough to embrace new technological developments.

Said Ms Webb: "The Act has positioned Bermuda as one of the world's leaders in the codification of Internet law, whilst remaining harmonious with international norms and compliant with international standards.'' It was specifically designed to reflect the: UNCITRAL model law on e-commerce; the EU parliament and Council for electronic signatures; the EU safe harbour principles for data protection; and best practice legislation found in other jurisdictions.

The Act was a customary extension of the Island's business philosophy, contined the Minister.

"We are very proud of our reputation for legality, transparency and business acumen. Bermuda always pays careful attention to the who and what behind any business connected to the Island.'' As an example, the Minister pointed to E-Suites -- businesses that operate segregated accounts for other businesses.

They are required to perform a thorough character vetting of their customers and once an application's integrity was verfified, each company's background was checked by the Bermuda Monetary Authority.

BUSINESS BUC