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Film - Licensed Investment Company scheme (FLICs)
The FLIC Scheme 2005 followed a pilot scheme introduced in 1999 to test new methods for the Australian Government and the Australian film and television industry to work together to raise investment for local film production.
The Australian Government confirmed an extension to the FLIC scheme in the 2005–06 Federal Budget and the 
Film Licensed Investment Company Scheme Act 2005 was passed in June 2005.
The legislation is available at www.comlaw.gov.au
Applications for the FLIC licence closed on September 2005. An expert selection advisory panel assessed the applications and made a recommendation to the Minister for the Arts and Sport on who should be granted the FLIC licence.
The FLIC Company (formerly Mullis Capital Film Licensed Investment Company) was granted the licence in December 2005 to raise capital of up to $10 million in each of 2005–06 and 2006–07, for investment in Australian film and television productions.
Capital raised during that period will attract a concession—that is, first purchasers of shares in the FLIC will be eligible for a 100 per cent up-front tax concession during the concessional capital raising period. If those shares are on-sold, a concession cannot be claimed.
After 30 June 2007, the FLIC will be able to raise non-concessional capital. All FLIC productions must be completed by 30 June 2009.
No further FLIC licences will be issued due to the introduction of a new Producer Offset (see the 2007–08 Australian Screen Production Incentive).