42. Grants to Local Biodiversity Fund.—The State Government may, after due appropriation made
by State Legislature by law in this behalf, pay to the Local Biodiversity Funds by way of grants or loans
such sums of money as the State Government may think fit for being utilised for the purposes of this Act.
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;
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[(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.]
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[44. Application of Local Biodiversity Fund.— (1) The Local Biodiversity Fund shall be utilised in
accordance with the regulations and the guidelines made in this behalf, for—
(a) the conservation and promotion of biodiversity including restoration of areas falling within
the jurisdiction of concerned local body;
(b) the socio-economic development of the community without compromising the conservation
concerns; and
(c) the administrative expenses of the Biodiversity Management Committee.
(2) The Fund shall be utilised in such manner as may be prescribed by the State Government.]
1. Subs. by Act 10 of 2023, s. 30, for “and knowledge associated with such resources” (w.e.f. 1-4-2024).
2. Ins. by s. 30, ibid. (w.e.f. 1-4-2024).
3. Subs. by s. 31, ibid., for clause (e) (w.e.f. 1-4-2024).
4. Subs. by s. 32, ibid., for section 44 (w.e.f. 1-4-2024).
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[45. Annual statement of Biodiversity Management Committees.— 45. The custodian of the
Local Biodiversity Fund shall prepare, in such form and during each financial year at such time as may be
prescribed by the State Government, its annual statement giving a full account of its activities during the
previous financial year, and submit the same to the local body concerned with a copy to the State
Biodiversity Board.]
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[46. Audit of accounts of Biodiversity Management Committees.— (1) The Biodiversity
Management Committee shall maintain the accounts which shall be audited in such manner as may be
prescribed by the State Government.
(2) The Biodiversity Management Committee shall furnish to the local body concerned and to the
State Biodiversity Board, before such date as may be prescribed by the State Government, its audited
copy of accounts together with auditor's report thereon.]
47. Annual report, etc., of the Biodiversity Management Committee to be submitted to District
Magistrate.—Every local body constituting a Biodiversity Management Committee under sub-section (1)
of section 41, shall cause, the annual report and audited copy of accounts together with auditor's report
thereon referred to in sections 45 and 46, respectively and relating to such Committee to be submitted to
the District Magistrate having jurisdiction over the area of the local body.