Biological Diversity Act, 2002
- This Act provides for setting up of a National Biodiversity Authority (NBA), State Biodiversity Boards (SBB) and Biodiversity Management Committees (BMC) in local bodies.
- All foreign nationals organizations require prior approval of NBA for obtaining biological resources and/or associated knowledge for any use.
- Similarly, Indian nationals or organizations will require to give prior intimation to the concerned SBB about any biological resources being imported for commercial use. The SBB may prohibit the import if found to violate the objectives of conservation, sustainable use and benefit sharing.
- However, local people and communities of the area, including Vaids and Hakims will have free access to use biological resources within the country for their own use, medicinal purposes and research.
- While granting approvals, NBA will impose terms and conditions to secure equitable sharing of benefits.
- There is a enabling provision for setting up a framework for protecting traditional knowledge.
- The monetary benefits, fees and royalties, as a result of approvals by NBA are to be deposited in National Biodiversity Fund which will be used for conservation and development of areas from where the resource has been accessed, in consultation with local self government.
- World Wide Fund for Nature (WWF) and World Conservation Union supports projects to promote conservation and appropriate development of Biosphere Reserves.