The Hon Rod Kemp was Minister for the Arts and Sport from Friday 23 November 2001 to Tuesday 30 January 2007. This site is available for archival purposes only.

Film Licensed Investment Company (FLIC) announced

The Minister for the Arts and Sport, Senator Rod Kemp, today announced the new team to help raise investment in Australian film production under the Government’s extended Film Licensed Investment Company (FLIC) Scheme.

Senator Kemp announced Mullis Capital Film Licensed Investment Company Ltd, a team of some of Australia’s leading investment and film industry identities, as the successful applicant for the extended FLIC scheme licence.

“Mullis Capital Film Licensed Investment Company Ltd will be well placed to help raise the investment for local film production and continue the resurgence of the industry,” Senator Kemp said.

The team includes: Simon McKeon ( Executive Chairman of Macquarie Bank, Melbourne), Mark Birrell (Melbourne-based solicitor), Richard Keddie (film producer and Chief Executive of Mullis Capital Independent), Fred Schepisi (internationally renowned director), Hugo Weaving(actor and recent AFI Award for Best Actor winner), Noni Hazlehurst AM(actor, producer, writer and recent AFI Award for Best Supporting Actress winner) and Grant Wilson (former investment banker and joint Managing Director of TravelEdge). Also included are two international advisors—producer Barrie Osborne (The Matrix, The Lord of the Rings) and Robert Mullis, Chairman of Mullis Capital Group.

“This is an exciting announcement and fulfils the Government’s 2004 election commitment to extend the Film Licensed Investment Company (FLIC) Scheme,” Senator Kemp said.

“Introduced as a pilot scheme in 1999, the FLIC Scheme succeeded in testing new methods for the Australian Government and the Australian film and television industry to work together to raise investment for local film production.

“The scheme is part of a package of measures announced under the Government’s election policy, A World Class Australian Film Industry, that will provide an additional $88 million to the sector in direct funding as well as encouraging increased private sector investment.”

The licence allows the company to raise concessional capital of up to $10 million per year in each of 2005–06 and 2006–07 for investment in qualifying Australian films. It provides the potential for an additional $20 million for investment in the local sector while investors in the FLIC will benefit from a 100 per cent upfront tax deduction on shares purchased.

“The group has strength in film industry expertise and experience and its approach to capital raising and investment strategies,” Senator Kemp said.

Applications for the new FLIC licence were assessed by an expert selection advisory panel. For more information on the FLIC Scheme visit: www.dcita.gov.au/arts/film_digital

MELBOURNE
16 December 2006
Media contact: Michael Christo, 03 9650 7274 or 0409 040276