world of finance were passed in the Senate yesterday.

Senator E.T. (Bob) Richards (UBP) -- who speaks for Finance in the Senate -- introduced the Companies Amendment Act 1997 and the Bermuda Monetary Authority (BMA) Amendment Act 1997.

He said the Companies Act Amendment was part of Government's commitment to the business community to amend the legislation from time to time so it was current.

The amendments allow for mutual funds and unit trusts to be marketed to Bermudian investors. Currently, mutual funds and unit trusts incorporated in Bermuda cannot be sold on the Island unless they are listed on the Bermuda Stock Exchange or the Finance Minister grants special permission.