International resale royalty update
The resale royalty legislation allows for royalties to be received by artists who are Australian citizens or permanent residents of Australia, and by those who are citizen of a country prescribed as a reciprocating country. This means that royalties will be collected for Australian artists when their works are resold overseas and that we will collect royalties for foreign artists when their artworks are resold within Australia.
We have been working with collecting societies from several countries to establish reciprocal arrangements. Progress has been made with several countries and we anticipate these will be in place with France, Germany, Sweden, Hungary and Italy before the end of 2012. France was the first country to introduce a resale royalty scheme, or droit de suite as it is known in France, so it is fitting that it is part of the first round of countries to be included on our regulations as a reciprocating country.
We will keep you informed of the progress of these arrangements and provide advance notice of commencement of resale royalty collection for overseas artists.