We investigated the properties of cholesteric liquid crystals (CLCs) being in an external static magnetic field directed along the helix axis. We considered a dichroic CLC, that is, CLC with parameters ReΔ=Reɛ_{1}-Reɛ_{2}/2=0 and ImΔ=Imɛ_{1}-Imɛ_{2}/2≠0, where ɛ_{1,2} are the principal values of the local dielectric permittivity tensor. We have shown that in the case of the wavelength dependence of the magneto-optic activity parameter, new features appear in the optics of dichroic CLCs, in particular, in this case new Dirac points appear. Dirac points are points where there is an intersection of any two wave vector curves (they degenerate) and a linear law of the wave vector dependence on the frequency near these points. And moreover, at some Dirac points photonic band gaps (PBGs) appear; at others, lines of magnetically induced transparency (MIT), that is, a full transmission band appears, in an absorbing medium. In this case a polarization-sensitive transmission band appears too. At certain values of the helix pitch of the CLC and of the magnitude of the external magnetic field, three PBGs of different nature appear: a transmittance band, two narrow lines of MIT, and at others a broadband MIT, etc. This system is nonreciprocal, and the nonreciprocity changes over a wide range. It is observed both for reflection and transmittance and for absorption. The soft-matter nature of CLCs and their response to external influences lead to easily tunable multifunctional devices that can find a variety of applications. They can be applied as tunable narrow-band or broadband filters and mirrors, a highly tunable broad/narrow-band coherent perfect absorber, transmitter, ideal optical diode, and in other devices.

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