Section 70 in Protection of Plant Varieties and Farmers' Rights Rules, 2003
70. Manner of applying the Gene Fund under section 4. - (1) The Authority shall pay the amount of benefit sharing, compensation required for use of genetic material towards evolution of new and essentially derived variety, to meet expenditure incurred for conservation and sustainable use of genetic resources and for the framing of schemes related to benefit sharing.
(2)The Gene Fund shall be applied for meeting the following purposes in accordance with the priority made hereunder:-(a)to support and reward farmers, community of farmers, particularly the tribal and rural communities engaged in conservation, improvement and preservation of genetic resources of economic plants and their wild relatives, particularly in areas identified as agro-biodiversity hot spots;(b)for capacity building on ex situ conservation at the level of the local body, particularly in regions identified as agro-biodiversity hot spots and for supporting in situ conservation;(c)on benefit sharing and compensation in accordance with sub-section (5) of section 26 and sub-section (3) of section 41; and(d)on transaction cost of administering the Gene Fund.
