Preheat the oven to 200ºC. Line a baking tray. Coat garlic with olive oil and wrap in baking paper; place on lined tray with whole capsicum. Roast on the top deck of the oven for 30 minutes, or until capsicums are blackened.
Place the capsicums in a plastic bag and tie. When cool, peel and quarter.
Place the milk in a small saucepan, sprinkle gelatin over it, and stand for 5 minutes. Simmer milk over low heat, whisking to dissolve the gelatine. Add the cream cheese and whisk until well blended, seasoning to taste with salt.
Line a loaf pan with cling wrap. Sprinkle chopped parsley and basil generously in the bottom of the pan. Spread a quarter of the cream cheese mixture in the pan and add a layer of capsicum. Sprinkle with chopped herbs and garlic, and freshly grated peppercorns. Continue layering the cream cheese, capsicum, herbs, garlic and pepper in this way, finishing with cream cheese and a sprinkling of herbs. Refrigerate for at least 8 hours.
Place a serving platter over the loaf pan. Holding both in place, turn them over; remove pan and cling wrap. Slice and serve cold with toast or crackers, as canape, or with salad as a starter.