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Agreement amending the Audiovisual Co-production Agreement between the Government of Canada and the Government of the Republic of Iceland signed on October 15, 1997 [2003] CATSer 24 (11 December 2003)

E104959

AGREEMENT AMENDING THE AUDIOVISUAL CO-PRODUCTION AGREEMENT BETWEEN THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE REPUBLIC OF ICELAND SIGNED ON OCTOBER 15, 1997

THE GOVERNMENT OF CANADA AND THE GOVERNMENT OF THE REPUBLIC OF ICELAND, hereinafter referred to as the "Contracting Parties";

DESIRING to amend the Audiovisual Co-Production Agreement, done at Washington on October 15, 1997;

HAVE AGREED to modify the following Articles:

ARTICLE I

Amendment to Article 6, paragraph (2)

Paragraph 2 shall read as follows:

"2. While the minimum financial contribution for a Canadian producer cannot be less than 20%, a 10% minimum financial contribution by European Union and/or Council of Europe members can be made only in the case of a multipartite co-production."

ARTICLE II

A provision on Twinning will be added to the Agreement
following Article 7 and become Article 8 (1) and (2)

The Article shall be as follows:

"1. For the present purposes, productions produced under a twinning arrangement may be considered, with the approval of the competent authorities, as co-productions and receive the same benefits. Notwithstanding Article 3, in the case of a twinning arrangement, the reciprocal participation of the producers of both countries may be limited to a financial contribution alone, without necessarily excluding any artistic or technical contribution.

2. To be approved by the competent authorities, these productions must meet the following conditions:

- there shall be respective reciprocal investment and an overall balance with respect to the conditions of sharing the receipts of co-producers in productions benefiting from twinning;

- the twinned productions must be distributed under comparable conditions in Canada and in Iceland;

- twinned productions may be produced either at the same time or consecutively, on the understanding that, in the latter case, the time between the completion for the first production and the start of the second does not exceed (1) one year."

ARTICLE III

Renumbering of Articles 8 to 18

Articles 8 to 18 will be renumbered to 9 to 19.

ARTICLE IV

The present Amendment to the Agreement shall come into force when each Party has informed the other that its internal ratification procedures have been completed.

IN WITNESS WHEREOF the undersigned, duly authorized by their respective Governments, have signed this Amendment to the Agreement.

DONE in duplicate at Ottawa, on this 28^th day of March 2003, in the English, French and Icelandic languages, each version being equally authentic.

Judith A. Larocque

FOR THE GOVERNMENT OF CANADA

Hjálmar W. Hannesson

FOR THE GOVERNMENT OF THE REPUBLIC OF ICELAND