Biological Diversity Act, : Constitution of National Biodiversity Fund. Indian Bare Acts :

Biological Diversity Act,,2003

Act No : 18

Section : Constitution of National Biodiversity Fund.

27. Constitution of National Biodiversity Fund.-(1) There shall be constituted a Fund to be called the National Biodiversity Fund and there shall be credited thereto- (a) any grants and loans made to the National Biodiversity Authority under section 26; (b) all charges and royalties received by the National Biodiversity Authority under this Act; and (c) all sums received by the National Biodiversity Authority from such other sources as may be decided upon by the Central Government. (2) The Fund shall be applied for- (a) channeling benefits to the benefit claimers; (b) conservation and promotion of biological resources and development of areas from where such biological resources or knowledge associated thereto has been accessed; (c) socio-economic development of areas referred to in clause (b) in consultation with the local bodies concerned.