Section 32 of The Biological Diversity Act: Constitution of State Biodiversity Fund.
Constitution of State Biodiversity Fund. Biological Diversity Act 2002
(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.]1. Subs. by Act 10 of 2023, s. 24, for clause (c) (w.e.f. 1-4-2024).
2. Subs. by s. 24, ibid., for “applied” (w.e.f. 1-4-2024).
3. Ins. by s. 24, ibid. (w.e.f. 1-4-2024).
4. Subs. by s. 24, ibid., for clause (c) (w.e.f. 1-4-2024).
5. Subs. by s. 24, ibid., for clause (d) (w.e.f. 1-4-2024).
6. Subs. by s. 24, ibid, for clause (e) (w.e.f. 1-4-2024).