Constitution of State Biodiversity Fund

Section 32 of the Biological Diversity Act, 2002 deals with constitution of State Biodiversity Fund. There shall be constituted a Fund to be called the State Biodiversity Fund and there shall be credited thereto -- (a) any grants and loans made to the State Biodiversity Board under section 31; The Act came into force on 01 Oct 2003.

(1) There shall be constituted a Fund to be called the State Biodiversity Fund and there shall be credited thereto --

(a) any grants and loans made to the State Biodiversity Board under section 31;

(b) any grants or loans made by the National Biodiversity Authority;

¹[(c) all sums including charges and benefit sharing amount received by the State Biodiversity Board and from such other sources as may be decided by the State Government;]

(2) The State Biodiversity Fund shall be ²[utilised] for--

³[(aa) channelling benefits to the benefit claimers;]

(b) compensating or rehabilitating any section of the people economically affected by notification under sub-section (1) of section 37;

⁴[(c) conservation, promotion and sustainable use of biological resources;]

⁵[(d) socio-economic development of areas from where such biological resources or traditional knowledge associated thereto have been accessed in consultation with the Biodiversity Management Committee or local body concerned:

Provided that when it is not possible to identify the area from where the biological resources or associated knowledge have been accessed, the fund shall be utilised for socio-economic development of the area where such biological resources occur;]

⁶[(e) making grants or loans to the Biodiversity Management Committees;

(f) the activities to meet the purposes of the Act.]

Section 32, The Biological Diversity Act, 2002 (Act 18 of 2003).