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43. Constitution of Local Biodiversity Fund
(1) There shall be constituted a Fund to be called the Local Biodiversity Fund at every area notified by the State Government where any institution of self-government is functioning and there shall be credited thereto—
(a) any grants and loans made under section 42;
(b) any grants or loans made by the National Biodiversity Authority;
(c) any grants or loans made by the State Biodiversity Boards;
(d) fees referred to in sub-section (3) of section 41 received by the Biodiversity Management Committees;
(e) benefit sharing amount and all other sums received by the Local Biodiversity Fund from such other sources as may be decided by the State Government.
Note: Clause (e) was substituted by the Biological Diversity (Amendment) Act, 2023 (10 of 2023), with effect from 1 April 2024.
