Category: Educational institutions and other organisations
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How does an educational institution sit with respect to the Scheme? Are their resales “professional resales”?
Section 9(2)) mentions publicly funded libraries, museums, and archives that collect and display artworks (GLAM), but not universities, who have extensive collections. To be a “professional resale”, at least one person involved in the resale must be: (from section 9(2)(a)(i) to (iii)). Universities and other educational institutions are clearly not listed in this definition, which […]
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Does the Resale Royalty apply to Universities that are publicly funded?
Just because a University receives some public funding for its operations, does not make it a “publicly funded art gallery” or “a publicly funded archive that collects and displays artworks”. Universities receive funds and revenue from many sources. Any artworks the University has collected and displayed may have been purchased other than with public funds […]
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How is the resale value calculated?
The resale royalty payable is calculated at 5% of the “resale value” of the qualifying resale (section 16). Section 10 says that “resale value” means: “the value of the consideration given for the visual artwork under the contract for resale” which may include: ‘Resale value’ does not include: Plain English Guidelines In plain English, this […]