Co-Production Treaty India & Italy
 

ARTICLE 14

  In the event of presentation at international film festivals, and unless the co-producers agree otherwise, a co-production shall be entered by the country of the majority investment co-producer or, in the event of equal financial participation of the co-producers, by the country of which the director is a national.
  Prizes, grants, incentives and other benefits awarded to the cinematographic or audiovisual works may be shared between the co-producers, in accordance with what has been established in the co-production contract and in conformity with applicable laws in force.
  All prizes which are not in cash form, such as honorable distinctions or trophies awarded by third countries, for cinematographic and audiovisual works produced according to the norms established by this agreement, shall be kept in trust by the majority co-producer or according to terms established in the co-production contract/agreement.

ARTICLE 15

 
The competent authorities of both countries shall jointly establish, through a subsequent exchange of notes the rules of procedure for co-productions, taking into account the laws and regulations in force in Italy and in India
ARTICLE 16
 
No restrictions shall be placed on the import, distribution and exhibition of Indian film, television and video productions in Italy or that of Italian film, television and video productions in India other than those contained in the legislation and regulations in force in each of the two countries, including in case of Italy the obligation deriving from the norms of the European Union insofar as the free circulation of goods among Italy and other European Union countries in concerned, will be respected.
ARTICLE 17
 
Any difference or dispute regarding the implementation of this Agreement shall be settled by mutual consultation and negotiation. This does not absolve the right of co producers who enter into various contracts to seek legal remedies- such remedies may include conciliation, mediation and arbitration.
 
The rights arising out of this Agreement will not be enforceable at the instance of third party (ies) who are not signatory to this Agreement.
 
An appropriate Joint Commission may look after the implementation of this Agreement. A meeting of the Joint Commission shall take place in principle once every two years alternately in the two countries. However, it may be convened for extraordinary sessions at the request of one or both authorities, particularly in the case of major amendments to the legislation or the regulations governing the film television and video industries in one country or the other, or where the application of this Agreement present various difficulties and shall submit to the Authorities in the two countries, for consideration, the necessary amendments in order to resolve any difficulties arising from the application of this agreement as well as t improve it in the best interest of both countries. The recommendations of the Joint Commission are not binding on the two Governments.

ARTICLE 18

The present Agreement shall come into force when each Party has informed the other that its international ratification procedures have been completed.
It shall be valid for a period of three (3) years from the date of its entry into force, a tacit renewal of the Agreement for like periods shall take place unless one or the other Party gives written notice of termination six (6) months before the expiry date.
Co-productions which have been recognized by the authorities and which are in progress at the time of notice of termination of this Agreement by either Party shall continue to benefit fully until completion from the provisions of this Agreement. After expiry or termination of this Agreement, its terms shall continue to apply to the division of revenues from completed co-productions.
DONE in three originals at… this Day of  2005, each in Italian, English and Hindi language, all versions being equally authentic. In case of any divergence in interpretation, the English text shall prevail.

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

FOR THE GOVERNMENT OF REPUBLIC OF INDIA

 
 
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