overseas investors to buy a larger share of Bermuda's biggest bank.

Speaker of the House Ernest DeCouto ruled on Friday that no MP with shares in the bank could vote.

Previously, Parliamentary convention was that shareholdings had to be significant, or MPs had to be directors of a company or senior staff to be disqualified.

Mr. DeCouto said: "This bill is a bit different -- the nature of the bill is to increase the valuation of the bank's shares.'' The Bank of Bermuda wants exemption from the 60/40 rule, designed to protect a majority Island stake in Bermuda businesses.

The bank wants to win a listing on an overseas stock exchange -- which will raise cash and boost the stock prices.

Mr. DeCouto said: "I'm trying to do a few call arounds and get some advice on this.

"The Parliamentary rule is very strict and I think we will have to find some way to loosen it off.

"The whole concept of shareholding has changed over the years and many people are now minority shareholders when previously there wasn't wide distribution of shares.'' But Mr. DeCouto said he would not be in a position to make a final ruling until this afternoon.

The Royal Gazette reported last week that Government Whip Quinton Edness and UBP backbencher Ann Cartwright DeCouto -- both Bank of Bermuda directors -- would have to disqualify themselves from voting. Development and Opportunity Minister Jerome Dill and Opposition Leader Jennifer Smith are both directors of the rival Bermuda Commercial Bank.

And PLP MP Paula Cox has already said she will not vote as she is a senior member of staff in the Bank of Bermuda legal department.

UBP backbencher Trevor Moniz will also bring back his bid to set up a register of Members' interests in both Houses of the Bermuda Parliament.

Mr. Moniz previously tabled a minority report with three signatures out of the seven on the special committee set up to examine the issue.

But it is understood he now has enough signatures to table a majority report.

Sen. Walwyn Hughes, Sen. Milton Scott, Shadow Tourism Minister David Allen, Ms Cox and Mr. Moniz have all signed -- but Mr. Dill and Transport Minister Erwin Adderley have not. The new rules -- overseen by a special committee -- would require MPs and Senators to declare interests like directorships, jobs, shareholdings, property interests, sponsorship and gifts.

A modification to the rules on condominiums, which will allow land attached to homes to be included in the legal definition, will also be discussed.

The Bermuda Housing Corporation wants the rule change to ease its sell-off of some of its houses.

A bill designed to make it easier for one-time monopoly overseas telephone service provider Cable & Wireless to compete with newcomer TeleBermuda will also get its second reading.