According to the Booker Prize Foundation, the prize distribution would be conducted on an annual basis for the novel that is translated into English and published in the UK.
Not just this, the prize amount will be divided into equal halves between the translator and the author of the novel.
The prize amount is said to be £50,000.
Every translator and author who will get shortlisted will receive £1,000. This implies that the total amount would be £62,000 per year. This amount is comparatively higher than the previous prize amount of £37,500.
Both short stories and novels would be eligible to be nominated or shortlisted for receiving the prize.
Almost 12 0r 13 books would be selected. Out of which, six will be shortlisted and finally the winner will be announced from the six best books. Most probably, by May 2016, the winner would be announced.
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