Report No. 171
National State and Local Biodiversity Fund
23. National Biodiversity Fund.-
(1) There shall be established a National Biological Diversity Fund.
(2) The grants and loans from the Central Government, fees, royalties or monetary benefits received as a result of approvals granted by the National Authority and any donations/grants or loans received from other institutions, for the purpose of this Act, shall be paid into this Fund.
(3) The Fund shall be administered by the National Authority.
(4) The Fund shall be utilised for promoting the objectives of this Act including,-
(a) channelling benefits to the conservers of biological resources, or creators and holders of knowledge;
(b) Conservation of biological resources and in particular,conservation and development of biological resources in areas from where such resource, or knowledge has been accessed;
(c) socio-economic development of such areas in consultation with the concerned Panchayat or Municipality;
(d) conservation of Heritage Sites notified under section 20.
(5) The Fund shall be subject to audit by the Comptroller and Auditor General of India.
(6) The Central Government shall frame rules for the management and administration of the National Biodiversity Fund.