The Creative Economy Support Bill, 2024

17 May 2024 domainSenate No. 30 of 2024
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Status Timeline

Proposed

Active now

Public Review

Pending

Debate

Pending

Executive

Pending

Final

Pending

1

New Creative Industry Guild to Oversee and Protect Creative Works

The Bill establishes the Creative Industry Guild to support individuals within the creative sector. Key functions of the Guild include:

  • Facilitating the registration of creative works and collaborating with state organs to protect intellectual property.
  • Overseeing the transparent distribution of royalties.
  • Classifying subsectors and representing underrepresented groups, including women, youth, and persons with disabilities.
2

Creatives Fund and Credit Guarantee Scheme Established for Financial Support

To address funding gaps, the Bill introduces targeted financial mechanisms:

  • The Creatives Fund: Comprising parliamentary appropriations, donations, and grants, this fund will provide direct grants to individual creatives.
  • Credit Guarantee Scheme: Established by the Cabinet Secretary in consultation with the Advisory Board, this scheme aims to guarantee investments and offer training in financial risk management.
3

Fourteen-Day Turnaround for Voluntary Guild Membership

Membership to the Creative Industry Guild is voluntary.

  • Creatives must apply using a prescribed form, and the Advisory Board is required to review and respond within 14 days.
  • Approved members will have their names entered into a formal roll of creatives, which serves as the verification record to qualify for fiscal incentives, subsidies, and incubation programs.
4

Clause 27 Empowers Cabinet Secretary to Issue Broad Relief Regulations

Under Clause 27, the Cabinet Secretary is empowered to draft regulations to facilitate the Act, including:

  • Exempting creatives from registration fees and anti-competition laws.
  • Regulating workplace, labour, and employee benefits within the industry.
  • Formulating frameworks for intergovernmental support and admission into creative incubation programs.

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