on Friday.

Government Senate leader Lynda Milligan-Whyte said the legislation would reduce some fees for some classes of companies while increasing it for others.

The highly capitalised companies such as ACE and Excel saw their fees jump from $2,315 to $15,000 because of the amount of work it takes to process their applications.

But Opposition spokesman Terry Lister said that such a large increase seemed to be a case of "killing the goose who lays a golden egg,'' and cautioned Government to monitor the situation closely.

The Upper House also approved both the Government Omnibus (Fares) Amendment Regulations 1997 and the Government Omnibus Amendment Regulations 1997.

The effect of these regulations will be to increase some fares and change the definition of a child from the previous age of three years to 13 years to a person between five and 16 years old.

The fare increases will come into effect on April 1. Seniors and the physically challenged will ride free.

The Senate then moved to clear a backlog of bills and amendments.

Within the space of an hour Senators passed eight pieces of "housekeeping'' legislation including: The Marine Board (Ferry Service Rates) Amendment Regulations 1997, which raises ferry fares by about five percent; The Motor Car Amendment Act, 1997, which increases licensing fees for all vehicles except taxis by five percent; The Auxiliary Bicycles Amendment Act 1997, which raises all cycle licence fees by five percent; An Amendment to the Fifth Schedule of the Companies Act 1981, which would reduce fees to foreign sales companies. The amendment is designed to draw more international business to the Island by reducing licensing fees from $1680 to $500 for companies doing $5 million in sales or less, and $1000 for companies doing $5 million in sales or more.

The new schedule will bring Bermuda into line with jurisdictions such as the US Virgin Islands and Barbados, said Senator Lynda Milligan Whyte .

The Payroll Tax Rates Amendment Act 1997, which reduces the payroll tax from 7 to 4.5 percent for cultural organisations; The Customs Tariff Amendment Act 1997, which reduces duties from 33 to 22 percent on commercial boat fittings and vessels; The Civil Airports Amendment Act 1997, which extends authority of the Civil Airports Act 1949 to now cover military aircraft; and The Bermuda Air Terminal (Fees) Amendment Regulations 1997, which extends landing fees to now cover military aircraft except those engaged in search and rescue operations.