Reference > Media law & regulation > UK media laws > Cinema and film > Cinematograph Film Production (Special Loans) Act 1949
12, 13 & 14 Geo.6 c.20
An Act to make temporary provision for the lending of money to be employed in financing the production or distribution of cinematograph films; to provide for the taking over by a national corporation established for the purpose aforesaid of the assets and liabilities of National Film Finance Company Limited; and for purposes connected with the matters aforesaid.
1.Constitution of the National Film Finance Corporation.
2.Loans by the Corporation. Rates of interest and terms of loans.
4.Advances by Board of Trade to Corporation. Sets upper limit on amount
5.Establishment of reserve.
9.Position of Corporation as to taxes, etc. No stamp duty to be charged on transfer of Company to the Corporation, but otherwise there is to be no exemption from any taxes, duty, rate, levy, etc, either general or local.
Sch 1.Provisions relating to constitution, etc, of Corporation.
1949/680 National Film Finance Corporation Regulations
This Act created the National Film Finance Corporation, which was empowered to make commercial loans for film production. There was occasional criticism from some quarters about the implications of giving the NFFC no exemption from taxation, the argument being that more favourable conditions would have allowed a greater measure of ability to assist the British film production and distribution industry.
The NFFC made loans to 754 long and 174 short films and 596 television films. Total advanced: £31.17m; repaid: £19.52m.
The NFFC had a subsidiary, National Film Trustee Company Limited, which managed the National Film Finance Consortium and the National Film Development Fund and controlled the disposal of Shepperton Studios Limited.
Page created 9 March 2009
© David Fisher