Film Licensed Investment Company Act 1998
23Fundraising conditions
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23 Fundraising conditions
A FLIC must comply with the following conditions as to raising capital:
(a) the FLIC must not raise more than the amount of concessional capital it is licensed to raise (whether in respect of the licence period or the period commencing on the day on which the FLIC’s licence is granted and ending on 30 June 1999);
(b) the FLIC must not issue debentures or convertible notes;
(c) the FLIC must not borrow money during the licence period except during the 1998‑99 financial year and then only for the short‑term purpose of meeting the costs of its administrative expenses;
(d) the FLIC may raise non‑concessional capital but not before 1 July 2000.