Second Chance To Get NBA Approvals With Retrospective Effect

Prior to Convention on biological diversity (CBD), bio-resources were considered to be heritage of mankind and were shared freely among nations. India being a signatory to CDB, enacted the Biological Diversity Act, 2002 (hereinafter the Act) with the objective of conservation of Biological Diversity, sustainable use of its components and fair and equitable sharing of benefits arising out of the use of its biological resources, knowledge and for matters connected therewith or incidental thereto. For the effective implementation of the Act, National Biodiversity Authority (NBA) and State Biodiversity Board (SBB) were established, for regulating activities relating to access to biological resources and for fair and equitable benefit sharing. However, NBA is bound by the directions of the Central Government in exercise of its functions and duties under the Act (section 48).