Act on Access and Benefit Sharing (RPPL No. 10-28 of 2018).

This Act lays down rules for access and fair and equitable sharing of benefits of genetic resources and traditional knowledge associated with genetic resources, in accordance with the Convention on Biodiversity and the Nagoya Protocol. This Act shall apply to all genetic resources and associated traditional knowledge, innovations and practices covered under the Convention on Biodiversity and benefits arising from the commercial and any other utilization of such resources. Priorities for ABS agreements are specified as: sovereign rights, traditional heritage, traditional community-based approach, equitable sharing of benefits, good governance, ecological integrity, stakeholder participation, on- and off-site conservation, and public awareness and capacity building. To this end, this Act sets forth provisions on the application procedures of ABS agreements to meet the specific or unique circumstances of the extraction, utilization, or study of genetic resources or traditional knowledge associated with genetic resources, the establishment and duties of a Committee for ABS agreements, the establishment and administration of ABS Fund, and the procedures and principles of ABS agreement. The Ministry of Natural Resources, Environment and Tourism and the ABS Committee shall promulgate any regulations necessary for the purposes of this Act within 180 days of the effective date of this Act.