(5)The Board shall within a period of two months from the last date of receipt of the suggestions, determine the royalties payable to the owner of the copyright under sub-section (2) of section 31C. The Board while determining the royalty shall take into consideration the following factors, namely: -(a)the retail price of the earlier sound recording;(b)the prevailing standards of royalties with regard to literary, dramatic or musical work for making such recordings;(c)the nature and class of the work, language, format and medium in which it is to be sold; and(d)such other matters as may be considered relevant by the Board.
