While few if any producers expect to get rich from regaining the rights, the move has been widely welcomed.
The agency has clarified that the concession applies to all projects, including features, miniseries, series and telemovies funded by the Film Finance Corp. and during Screen Australia.s first year, that were released or broadcast in the seven years prior to December 31 2008.
The handover has been brought forward by six months. All rights minus a 1% copyright fee revert back to producers.
Producer Matt Carroll is looking forward to exploring the potential of new revenue sources for Passion, his 1993 drama about composer Percy Grainger, which starred Richard Roxburgh. Beyond Films handled the film directed by Peter Duncan.