Step 1: Understanding the Concept:
The Biological Diversity Act, 2002, contains specific regulatory sections designed to protect endangered biological resources.
Step 2: Detailed Explanation:
- Section 38 of the Act empowers the Central Government, in consultation with State Governments, to designate and notify species that are threatened or on the verge of extinction.
- This notification prohibits or regulates the collection, harvest, and trade of these threatened species to ensure their survival in the wild.
- Notifying Biodiversity Heritage Sites is covered under Section 37, and designating repositories is covered under Section 39.
Step 3: Final Answer:
Section 38 of the Biological Diversity Act, 2002, deals with notifying threatened species.