Explanation:

Biodiversity Act 2000
India’s richness in biological resources and indigenous knowledge relating to them is well recognized.
The legislation aims at regulating access to biological resources so as to ensure equitable sharing of benefits arising from their use.
The Biological Diversity Bill was introduced in the Parliament in 2000 and was passed in 2002.
Salient features of the biodiversity legislation
• The main intent of this legislation is to protect India’s rich biodiversity and associated knowledge against their use by foreign individuals and organizations without sharing the benefits arising out of such use, and to check biopiracy.
• This bill seeks to check biopiracy, protect biological diversity and local growers through a three-tier structure of central and state boards and local committees.
• The Act provides for setting up of a National Biodiversity Authority (NBA), State Biodiversity Boards (SBBs) and Biodiversity Management Committees (BMCs) in local bodies. The NBA will enjoy the power of a civil court.
• BMCs promote conservation, sustainable use and documentation of biodiversity.
• NBA and SBB are required to consult BMCs in decisions relating to use of biological resources.
• All foreign nationals or organizations require prior approval of NBA for obtaining biological resources and associated knowledge for any use.
• Indian individuals/entities require approval of NBA for transferring results of research with respect to any biological resources to foreign nationals/organizations.
• Collaborative research projects and exchange of knowledge and resources are exempted provided they are drawn as per the policy guidelines of the Central Government.
• However, Indian citizens/entities/local people including vaids and hakims have free access to use biological resources within the country for their own use, medicinal purposes and research purposes.
• While granting approvals, NBA will impose terms and conditions to secure equitable sharing of benefits.
• Before applying for any form of IPRs (Intellectual Property Rights) in or outside India for an invention based on research on a biological resource obtained from India, prior approval of NBA will be required.
• The monetary benefits, fees, royalties as a result of approvals by NBA will be deposited in National Biodiversity Fund.
• NBF will be used for conservation and development of areas from where resource has been accessed, in consultation with the local self-government concerned.
• There is provision for notifying National Heritage Sites important from standpoint of biodiversity by State Governments in consultation with local self-government.
• There also exists provision for notifying items, and areas for exemption provided such exclusion does not violate other provisions. This is to exempt normally traded commodities so as not to adversely affect trade.