(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;
(c) all sums received by the State Biodiversity Board from such other sources as may be decided upon by the State Government.
(2) The State Biodiversity Fund shall be applied for -
(a) the management and conservation of heritage sites;
(b) compensating or rehabilitating any section of the people economically affected by notification under sub-section
(1) of section 37;
(c) conservation and promotion of biological resources;
(d) socio-economic development of areas from where such biological resources or knowledge associated thereto has been accessed subject to any order made under section 24, in consultation with the local bodies concerned;
(e) meeting the expenses incurred for the purposes authorized by this Act.
Annual report of State Biodiversity Board.
33. The State Biodiversity Board shall prepare, in such form and at such time in each financial year as may be prescribed, its annual report, giving a full account of its activities during the previous financial year, and submit a copy thereof to the State Government.
Audit of accounts of State Biodiversity Board.
34. The accounts of the State Biodiversity Board shall be maintained and audited in such manner as may, in consultation with the Accountant-General of the State, be prescribed and the State Biodiversity Board shall furnish, to the State Government, before such date as may be prescribed, its audited copy of accounts together with auditor's report thereon.
Annual Report of State Biodiversity Board to be laid before State Legislature.
35. The State Government shall cause the annual report and auditor's report to be laid, as soon as may be after they are received, before the House of State Legislature.
CHAPTER - IX DUTIES OF THE CENTRAL AND THE STATE GOVERNMENTS Central Government to develop National strategies plans, etc., for conservation, etc., of biological diversity.