(1) This Act sets up a scheme to encourage investment in qualifying Australian films.
(2) The Act provides for a company to apply for a concessional capital licence. While the licence is in force, the company is able to raise up to $10 million in each of the 2005-06 and 2006-07 financial years for investment in provisionally certified films.
(3) The shareholders who purchase shares in the company during the licence period are able to obtain a 100% tax deduction for that investment.
(4) The scheme begins on the day that the Minister grants the licence and ends on 30 June 2009 (by which time all films must have been completed). The concessional capital licence is in force until 30 June 2007. After the licence period ends the company is able to raise further capital, but those shares will not attract the 100% tax deduction.

Note: For qualifying Australian film see subsection 6(1).