Claim: The Academy Honorary Award was instituted in 1948 and it is a significant event in cinema.
Evidence: The Academy Honorary Award -- instituted in 1948 for the 21st Academy Awards -LRB- previously called the Special Award , which was first presented in early 1929 -RRB- -- is given annually by the Board of Governors of the Academy of Motion Picture Arts and Sciences -LRB- AMPAS -RRB- to celebrate motion picture achievements that are not covered by existing Academy Awards , although prior winners of competitive Academy Awards are not excluded from receiving the Honorary Award.