A bid to set up a Register of Interests for MPs could come before the House of Assembly as early as this Friday.

Government MP Trevor Moniz -- chairman of a special House committee set up to examine the issue -- said a draft report had been completed.

And he added all he needed was four signatures out of the seven Committee members to bring his report back to MPs.

Mr. Moniz said: "I hope to table the report before the House recesses on July 3 -- but I may be able to do it as early as this coming Friday.'' The special committee looked at rules governing MPs' conduct in the UK, Canada, the Isle of Man and Trinidad and Tobago.

The new rules -- overseen by a special committee -- would require MPs to declare interests, including directorships held, employment, shareholdings, property interests, sponsorship and gifts.

A draft declaration form has already been drawn up and circulated.

Mr. Moniz said: "In some jurisdictions, this kind of thing is contained in the Constitution, while in some it's covered by acts of parliament.

"We have chosen a more gentle route -- Members' Rules, so the oversight and discipline comes from Members, so we are governed by our peers.'' It is understood the new Joint Select Committee on Members Interests will make recommendations to the Speaker of the House, who will be the ultimate authority on judging conflicts.

Mr. Moniz said introducing a Register in Bermuda was long overdue.

He added that there had been several allegations of conflict of interest involving Bermuda Ministers.

Mr. Moniz said that allegations against Ministers were made in every jurisdiction.

He added: "This doesn't get rid of them, but it will prevent those without substance dragging on and on.'' Mr. Moniz added: "I don't know of any responsible jurisdiction which doesn't have these requirements.

"You can't do without them -- we must have because our credibility as a jurisdiction depends on it.'' The report when tabled is unlikely to go to a vote -- unless an MP brings forward a motion to reject it.

But Mr. Moniz said it was unlikely that any Member would put themselves in the position of blocking public scrutiny of their out-of-House activities.