 In 2007, the Liberal Government announced the creation of a new agency to be called Screen Australia which would incorporate the main functions of the Film Finance Corporation, the Australian Film Commission (including the Archive), and Film Australia.Following elections in November 2007, however, the new Labor Government implemented an election promise to allow the NFSA to become a statutory authority, similar to other major cultural institutions including the National Library of Australia, the National Gallery of Australia and the National Museum of Australia.The NFSA Act became law on 20 March 2008 and came into effect on 1 July 2008, with celebrations held that day.