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.
