MUMBAI: As part of a major overhaul of the organisation following its $41.9m (?25m) budget cut, the UK Film Council (UKFC) has proposed to merge its Premiere, New Cinema and Development funds in order to create a $25m (?15m) Film Production Fund.

The UKFC has launched a three month public consultation into the plans on November 17.

The fund will be used to support all production but will have an emphasis on first and second time film-makers, and will also support experimental, innovative and digital film-making.

The $25.1m (?15m) budget for the new fund is $3.3m (?2m) lesser than the total allocated to the three separate funds, although any money recouped by the UKFC from their investments will now go directly back into the Production Fund.

According to UKFC chief executive, John Woodward, the fund is expected to at least equal the current spend on the three funds, as a result of the reinvestment: "Instead of recoupment going back into the top of the Film Council, the money will go directly back into the production fund, so my expectation is that in three years time there will be slightly more money in the pot than there is now."

It is understood that the fund will be led by four executives, who will be appointed by April 2010.