may have to be relaxed in the future will require some tough decisions for Bermuda to make.

The 60/40 rule has already been relaxed in some cases, especially for hotel developments, which require major capital spending.

More recently, the Island has seen certain companies, like TeleBermuda offer local services in spite of having more than 60 percent of its shares held by non-Bermudians.

And the efforts by the Bank of Bermuda to have the rules eased so it can list on the Nasdaq Stock Exchange are well-known.

Nonetheless, this is one of the first times that a leading member of the Progressive Labour Party Government has discussed the possibility of a broader relaxation of the rule.

He told The Royal Gazette yesterday that the rule will have to be liberalised "to some degree''.

The big question is how far the rule can be relaxed, and once relaxation has occurred, whether Bermuda will be able to enforce the rule at all.

Bermuda does consider itself to be another world; if relaxation of the ownership rule means Bermuda's retail being overrun by McDonald's, Toys R Us and other mass market chains and the destruction of local businesses, then this is a step which should be taken with great care. On the other hand, if greater foreign ownership means greater access to foreign capital by liquidity-starved local businesses and efficiencies in terms of lower costs for goods, then Bermuda may be well served.

That decision is one which needs to be taken by the whole community including consumers, businesses and Government leaders.

There is some risk in making changes to the ownership rule in a piecemeal fashion. An overall review of the law is needed.

BUKCLING UP EDT Buckling up Works Minister Alex Scott's car accident, reported in today's paper, is a timely reminder that no one is immune from the dangers of Bermuda's roads.

And even though seat belts are not required by law, the fact that he was able to walk away from the accident without a scratch shows how valuable they can be.

With little sign of improvement in road behaviour, the time may have come when seat belts will have to be mandatory. In a perfect world, drivers would obey the speed limit and practise good road manners. If that does not happen, and it probably will not, then drivers would be well advised to use seat belts voluntarily.

They might, as in the case of Mr. Scott, help drivers to escape serious injury or even death.