law: The Biological Diversity Act, 2002
  21. Determination of
  
  equitable benefit sharing by National Biodiversity Authority.-
  1.  
  
    The
  
  National Biodiversity Authority shall while granting approvals under section 19
  
  or section 20 ensure that the terms and conditions subject to which approval is
  
  granted secures equitable sharing of benefits arising out of the use of
  
  accessed biological resources, their by-products, innovations and practices
  
  associated with their use and applications and knowledge relating thereto in
  
  accordance with mutually agreed terms and conditions between the person
  
  applying for such approval, local bodies concerned and the benefit claimers.
  2.  
  
    The
  
  National Biodiversity Authority shall, subject to any regulations made in this
  
  behalf, determine the benefit sharing which shall be given effect in all or any
  
  of the following manner, namely:-
  a.   grant of joint
  
  ownership of intellectual property rights to the National Biodiversity
  
  Authority, or where benefit claimers are identified, to such benefit claimers;
  b.   transfer of
  
  technology;
  c.   location of
  
  production, research and development units in such areas which will facilitate
  
  better living standards to the benefit claimers;
  d.   association of Indian
  
  scientists, benefit claimers and the local people with research and development
  
  in biological resources and bio-survey and bio-utilisation;
  e.   setting up of venture
  
  capital fund for aiding the cause of benefit claimers;
  f.   payment of monetary
  
  compensation and other non-monetary benefits to the benefit claimers as the
  
  National Biodiversity Authority may deem fit.
  1.  
  
  
  2.  
  
  
  3.  
  
    Where
  
  any amount of money is ordered by way of benefit sharing, the National Biodiversity
  
  Authority may direct the amount to be deposited in the National Biodiversity
  
  Fund: Provided that where biological resource or knowledge was a result of
  
  access from specific individual or group of individuals or organisations, the
  
  National Biodiversity Authority may direct that the amount shall be paid
  
  directly to such individual or group of individuals or organisations in
  
  accordance with the terms of any agreement and in such manner as it deems fit.
  4.  
  
    For
  
  the purposes of this section, the National Biodiversity Authority shall, in
  
  consultation with the Central Government, by regulations, frame guidelines.