Section 32. Constitution of State Biodiversity Fund.

(1) There shall be constituted a Fund to be called the State Biodiversity Fund and there shall be credited thereto -- (a) any grants and loans made to the State Biodiversity Board under section 31; (b) any grants or loans made by the National Biodiversity Authority; 1[(c) all sums including charges and benefit sharing amount received by the State Biodiversity Board and from such other sources as may be decided by the State Government;] (2) The State Biodiversity Fund shall be 2[utilised] for-- 3[(aa) channelling benefits to the benefit claimers;] (b) compensating or rehabilitating any section of the people economically affected by notification under sub-section (1) of section 37; 4[(c) conservation, promotion and sustainable use of biological resources;] 5[(d) socio-economic development of areas from where such biological resources or traditional knowledge associated thereto have been accessed in consultation with the Biodiversity Management Committee or local body concerned: Provided that when it is not possible to identify the area from where the biological resources or associated knowledge have been accessed, the fund shall be utilised for socio-economic development of the area where such biological resources occur;] 6[(e) making grants or loans to the Biodiversity Management Committees; (f) the activities to meet the purposes of the Act.]