Licence fee for an orphan licence

10.—(1) Subject to paragraph (2), on the grant of an orphan licence the authorising body—

(a)shall charge the orphan licensee a reasonable licence fee for the period of the licence calculated with regard to relevant factors which shall include the level of licence fees which are achieved under licences for a similar use of similar relevant works which are not orphan works; and

(b)may charge a reasonable additional amount in respect of the costs of the authorising body.

(2) The authorising body shall—

(a)hold all licence fees paid under this regulation in a designated account;

(b)adopt accounting procedures that ring-fence in a separate account for monies received from orphan licences; and

(c)retain unclaimed licence fees for a period of not less than eight years from the date of the grant of the relevant orphan licence.

(3) The authorising body shall maintain and make available information that sets out, in respect of the orphan licences it grants, how the licence fee is calculated.