(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.