(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) all sums received by the Local Biodiversity Fund from such other sources as may be decided upon by the State Government.