 The scope of the Fund was broadened to grant fellowships to writers, and to provide guarantees against loss to Australian publishers of works approved by the Committee.It also provided assistance to Australian literary magazines "Meanjin", "Overland", "Quadrant" and "Southerly".The Committee was replaced by a Board comprising the Prime Minister, the Leader of the Opposition and one other, with an Advisory Board comprising leading writers, publishers and academics, which in practice was responsible for all decisions and disbursements.