Film Licensed Investment Company Act 1998
6Definitions
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6 Definitions
(1) In this Act, unless the contrary intention appears:
allowable deduction percentage has the meaning given in section 37.
Application rules means the rules made by the Minister under section 9.
bank includes but is not limited to a body corporate that holds an authority under subsection 9(3) of the Banking Act 1959.
concessional capital means money paid to a FLIC by a person for the issue, during the FLIC’s licence period, of shares to that person.
concessional capital licence means a licence granted by the Minister under section 16.
film licensed investment company means a company that has been granted a concessional capital licence under section 16 (whether or not the licence has ceased to be in force).
FLIC means a film licensed investment company.
invested in a film has the meaning given in subsection (2).
licence period, in relation to a FLIC, means the period commencing on the day on which the FLIC was granted a concessional capital licence and ending:
(a) if the licence is revoked—on the day specified by the Minister under section 33 as the day on which it is revoked; or
(b) otherwise—on 30 June 2000.
non‑concessional capital means capital raised by the FLIC after the end of the licence period.
period of the scheme means the period commencing on the day the Minister grants the first licence under the scheme and ending on 30 June 2003.
provisionally certified film means a film that has been issued with a provisional certificate under section 124ZAB of the Income Tax Assessment Act 1936.
qualifying Australian film has the same meaning as it has in Division 10BA of Part III of the Income Tax Assessment Act 1936.
Secretary means the Secretary to the Department.
Selection Advisory Panel means a body established under the Application rules to advise the Minister in respect of applications for a concessional capital licence.
(2) For the purposes of this Act, money is invested in a film if it is:
(a) spent by a FLIC as a contribution to the cost of producing the film for the purpose of becoming the first owner, or one of the first owners, of the copyright in the film when the copyright comes into existence; or