| (1) |
A benefit-sharing agreement must— |
| (ii) |
the area or source from which the indigenous biological resources are to be collected or obtained; |
| (iii) |
the quantity of indigenous biological resources that is to be collected or obtained; |
| (iv) |
any traditional uses of the indigenous biological resources by an indigenous community; and |
| (v) |
the present potential uses of the indigenous biological resources; |
| (c) |
name the parties to the benefit-sharing agreement; |
| (d) |
set out the manner in which and the extent to which the indigenous biological resources are to be utilised or exploited for purposes of such bioprospecting; |
| (e) |
set out the manner in which and the extent to which the stakeholder will share in any benefits that may arise from such bioprospecting; |
| (f) |
provide for a regular review of the agreement by the parties as the bioprospecting progresses; and |
| (g) |
comply with any other matters that may be prescribed. |
| (2) |
A benefit-sharing agreement or any amendment to such an agreement— |
| (a) |
must be submitted to the Minister for approval; and |
| (b) |
does not take effect unless approved by the Minister. |
[Section 83 commenced 1 January 2006 (Proclamation No. R. 47, Gazette No. 26887)]
Exchange Control Amnesty and Amendment of Taxation Laws Act, 200
