The specific terms of reference of the think tank are as follows: having regard to the fact that the statutory authority for the section 481 scheme, formerly section 35 of the Finance Act, 1987, as amended, expires at the end of the current fiscal year: (i) to carry out an objective evaluation of the effectiveness of the existing schemes and incentives to develop the industry; (ii) to analyse and identify the fundamental issues facing the industry and to make recommendations in regard to future measures in support of the film industry; and (iii) to formulate a strategic plan for the future of the film industry into the next decade.
An interim report on the section 481 measure, which expires next year, is to be submitted to me by September this year. The full recommendations and plan are to be submitted to me by the end of the year.