C-2013853-54Elizabeth II2004-2005An Act to provide for powers of First Nations respecting taxation, financial administration and the provision of services on reserve lands, to facilitate First Nations’ access to financing secured by local revenues or other revenues, to establish a First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Infrastructure Institute and to make consequential amendments to other ActsFirst Nations Fiscal Management ActFirst Nations Fiscal Management20262
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F-11.6792005PreambleWhereas the Government of Canada is committed to responding to, to the extent of its authority, Call to Action 44 in the Final Report of the Truth and Reconciliation Commission of Canada and implementing the United Nations Declaration on the Rights of Indigenous Peoples, including Articles 3 to 5, 20, 21 and 23 as they relate to the pursuit of economic growth in Indigenous communities and to economic reconciliation;Whereas early contact Indigenous peoples had innovative economic and trade systems supported by public infrastructure, tax systems, sharing practices and the development of trading languages to enable commerce across linguistically diverse regions;Whereas Indigenous languages have words for taxes and sharing, including the word “taksis” in the Chinook trading language;Whereas the Government of Canada has adopted a policy recognizing the inherent right of self-government as an Aboriginal right and providing for the negotiation of self-government;Whereas this Act is not intended to define the nature and scope of any right of self-government or to prejudge the outcome of any self-government negotiation;Whereas First Nations governments led an initiative in 1988 to amend the Indian Act in order to recognize their jurisdiction over real property taxation;Whereas First Nations leaders led an initiative that resulted in the development of legislation that would enable First Nations to better exercise their jurisdiction with respect to taxation, financial administration and the provision of services on reserve lands and to participate in pooled debenture borrowing;Whereas economic development through the application of local revenues and other revenues to support borrowing on capital markets for the development of public infrastructure is available to other governments in Canada;Whereas local revenue systems on reserves should recognize both the interests of on-reserve taxpayers and the rights of members of First Nations communities;And whereas First Nations and the Government of Canada recognize the benefits of establishing Indigenous institutions as part of a comprehensive fiscal framework;NOW, THEREFORE, Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows:2005, c. 9, Preamble; 2012, c. 19, s. 657; 2018, c. 27, ss. 413(E), 414(E)2023, c. 16, s. 2Short Title
Short titleThis Act may be cited as the First Nations Fiscal Management Act.2005, c. 9, s. 1; 2012, c. 19, s. 658
Interpretation
DefinitionsThe following definitions apply in this Act.borrowing member means a First Nation that has been accepted as a borrowing member under subsection 76(2) and has not ceased to be a borrowing member under section 77. (membre emprunteur)capital assets includes capital infrastructure. (immobilisation)council has the same meaning as council of the band in subsection 2(1) of the Indian Act. (conseil de la première nation)First Nation means a band named in the schedule. (première nation)First Nations Finance Authority means the corporation established under section 58. (Administration financière des premières nations)First Nations Financial Management Board means the board established under subsection 38(1). (Conseil de gestion financière des premières nations)First Nations Gazette means the publication published under section 34. (Gazette des premières nations)First Nations Infrastructure Institute means the institute established under subsection 102(1). (Institut des infrastructures des premières nations)First Nations Statistical Institute[Repealed, 2012, c. 19, s. 659]First Nations Tax Commission means the commission established under subsection 17(1). (Commission de la fiscalité des premières nations)interest, in relation to reserve lands in Canada elsewhere than in Quebec, means any estate, right or interest of any nature in or to the lands, including any right to occupy, possess or use the lands, but does not include title to the lands that is held by her Majesty. (intérêt)intermediate account means an account established by a First Nation in which other revenues to be used for financing under this Act are deposited and out of which the First Nations Finance Authority is authorized to transfer such revenues to a secured revenues trust account. (compte intermédiaire)local revenue law means a law made under subsection 5(1). (texte législatif sur les recettes locales)local revenues means moneys raised under a local revenue law and payments made to a First Nation in lieu of a tax imposed by a law made under paragraph 5(1)(a). (recettes locales)Minister means the Minister of Crown-Indigenous Relations. (ministre)other revenues meanstax revenues and fees imposed or collected by a First Nation under a law or agreement, other thanlocal revenues, andrevenues from taxes administered by His Majesty in right of Canada on the First Nation’s behalf, including under the First Nations Goods and Services Tax Act, unless an agreement between them specifically permits the use of the revenues as security for a loan referred to in paragraph 74(b) and any other applicable conditions are satisfied;royalties payable to a First Nation under the Framework Agreement, as defined in subsection 2(1) of the Framework Agreement on First Nation Land Management Act, or under the First Nations Oil and Gas and Moneys Management Act;royalties payable to His Majesty in right of Canada under the Indian Act or the Indian Oil and Gas Act on behalf of a First Nation that has assumed control of its moneys under the First Nations Oil and Gas and Moneys Management Act;revenues that are from leases, permits or other instruments or acts authorizing the use of reserve land issued under the Indian Act and that a First Nation has assumed control of under the First Nations Oil and Gas and Moneys Management Act;revenues from leases, permits or other instruments or acts authorizing the use of reserve land issued under the Framework Agreement, as defined in subsection 2(1) of the Framework Agreement on First Nation Land Management Act;revenues otherwise payable to a First Nation under any agreement with a person other than His Majesty in right of Canada — with the exception of revenues collected by His Majesty in right of Canada on the First Nation’s behalf unless an agreement between them specifically permits their use as security for a loan referred to in paragraph 74(b) and any other applicable conditions are satisfied;revenues, other than local revenues, received by a First Nation from businesses wholly or partly owned by it, including dividends from shares owned by it;transfers from a provincial, regional, municipal or local government to a First Nation;transfers from His Majesty in right of Canada to a First Nation if the agreement governing the transfer specifically permits the use of the transfer as security for a loan referred to in paragraph 74(b) and if any other applicable conditions are satisfied;interest earned by a First Nation on deposits, investments or loans, other than interest held by His Majesty in right of Canada on the First Nation’s behalf; andrevenues prescribed by regulation. (autres recettes)property taxation law means a law made under paragraph 5(1)(a). (texte législatif relatif à l’imposition foncière)right, in relation to reserve lands in Quebec, means any right of any nature in or to the lands, including any right to occupy, possess or use the lands and any right of a lessee, but does not include title to the lands that is held by her Majesty. (droit)secured revenues trust account means an account established by the First Nations Finance Authority and a First Nation in which other revenues to be used for financing under this Act are maintained. (compte de recettes en fiducie garanti)third-party management[Repealed, 2023, c. 16, s. 3]Indian Act definitionsUnless the context otherwise requires, words and expressions used in this Act and not otherwise defined have the same meaning as in the Indian Act.Extended meaning of “borrowing member”For the purpose of sections 57, 59, 74, 77, 78, 83 and 84 and paragraph 89(c), borrowing member also means an Indigenous group, other than a band named in the schedule, or an organization referred to in paragraph 50.1(1)(e) that has been accepted as a borrowing member under a regulation made under section 141 or 141.1.Extended meaning of “borrowing member” — section 61For the purpose of section 61, borrowing member also means an Indigenous group, other than a band named in the schedule, that has been accepted as a borrowing member under a regulation made under section 141.Amendments to scheduleAt the request of the council of a band, the Minister may, by order, amend the schedule in order toadd or change the name of the band; ordelete the name of the band, as long as there are no amounts owing by the band to the First Nations Finance Authority that remain unpaid.RegulationsThe Governor in Council may make regulations prescribing anything that is to be prescribed under paragraph (k) of the definition other revenues.For greater certaintyFor greater certainty, nothing in this Act shall be construed as requiring capital assets for the provision of local services on reserve lands to be located on reserve lands.2005, c. 9, s. 2; 2012, c. 19, s. 659; 2015, c. 36, s. 177; 2018, c. 27, ss. 385, 414(E)2019, c. 29, s. 3732023, c. 16, s. 3
[Repealed, 2024, c. 30, s. 25]
First Nations Fiscal Powers
Financial administration lawsThe council of a First Nation may not make a law under paragraph 5(1)(d) or 8.1(1)(a) until the council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a) and that law has been approved by the First Nations Financial Management Board.2005, c. 9, s. 4; 2018, c. 27, s. 414(E)2023, c. 16, s. 4
Local revenue lawsSubject to sections 4 and 6 and any regulations made under paragraph 36(1)(d), the council of a First Nation may make lawsrespecting taxation for local purposes of reserve lands and interests or rights in reserve lands, includingthe assessment of the value of those lands and interests or rights, the requisition of any information necessary to conduct the assessment and the inspection, in accordance with procedures prescribed by regulation, for assessment purposes of any reserve lands that are subject to taxation for local purposes,a mechanism to establish tax rates and apply them to the assessed value of those lands and interests or rights,taxation for the provision of services in respect of reserve lands,the taxation of business activities on reserve lands, andthe imposition of development cost charges;respecting the charging of fees for the provision of services or the use of facilities on reserve lands, or for a regulatory process, permit, licence or other authorization, in relation to water, sewers, waste management, animal control, recreation and transportation, as well as any other similar services;authorizing the expenditure of local revenues;respecting procedures by which the interests of taxpayers may be represented to the council;respecting the borrowing of money from the First Nations Finance Authority that is secured by local revenues, including any authorization to enter into a particular borrowing agreement with that Authority;subject to any conditions and procedures prescribed by regulation, respecting the enforcement of laws made under paragraphs (a) and (a.1), includingthe creation of liens or, in Quebec, prior claims or legal hypothecs on reserve lands and on interests or rights in reserve lands,the imposition and recovery of interest and penalties on an amount payable pursuant to a law made under that paragraph, where the amount is not paid when it is due, and the rate of interest or the amount of the penalty, as the case may be,subject to subsection (7), the seizure, forfeiture and assignment of interests or rights in reserve lands,the seizure and sale of personal or movable property located on reserve lands, other than property located in a dwelling,the discontinuance of services, andthe recovery of costs that are incurred by the First Nation for the enforcement of those laws;delegating to any person or body any of the council’s powers to make laws under any of paragraphs (a) to (e); anddelegating to the First Nations Financial Management Board any of the council’s other powers that are required to give effect to a co-management arrangement entered into under section 52 or to give effect to third-party management under section 53.Approval requiredA law made under subsection (1) does not have any force or effect until it is approved by the First Nations Tax Commission.Coming into forceA law made under subsection (1) comes into force on the later ofthe day of coming into force set out in the law, andthe day after it is approved by the First Nations Tax Commission.AppealsA law made under subparagraph (1)(a)(i) shall includean appeal procedure in respect of assessments, incorporating such procedures as are prescribed by regulation; andfixed rates of remuneration and fixed terms of office for any persons designated to decide the appeals.Application to competent courtThe First Nation may apply to a court of competent jurisdiction for an order directing the person or entity named in the application to comply with a local revenue law, such as byrefraining from doing anything that, in the opinion of the court, constitutes or is directed toward the contravention of that law; ordoing anything that, in the opinion of the court, may prevent the contravention of that law.Collection — competent courtThe First Nation may commence a proceeding in a court of competent jurisdiction to collect an amount owing to the First Nation under a local revenue law.Enforcement — Framework Agreement on First Nation Land Management ActIf a First Nation has adopted a land code as defined in subsection 2(2) of the Framework Agreement on First Nation Land Management Act or the council of a First Nation has enacted a First Nation law as defined in subsection 2(1) of that Act, the First Nation may use any enforcement measure — other than a measure for the investigation or prosecution of an offence punishable on summary conviction referred to in paragraph 19.1(a) of the Framework Agreement, as defined in subsection 2(1) of that Act — that is provided for in that land code or First Nation law to enforce a local revenue law.Assignment of interest or rightDespite the Indian Act or any instrument or act conferring an interest or right in reserve lands, if there are outstanding taxes payable under a law made under paragraph (1)(a) for more than two years, the First Nation may assign the interest or right in accordance with the conditions and procedures prescribed by regulation.Judicial noticeIn any proceedings, judicial notice may be taken of a local revenue law.Statutory Instruments ActThe Statutory Instruments Act does not apply in respect of local revenue laws or laws made under section 9.2005, c. 9, s. 5; 2015, c. 36, s. 178; 2018, c. 27, ss. 386, 414(E)2023, c. 16, s. 5
Notice of proposed lawsAt least 30 days — or any longer period fixed by a standard made under subsection 35(1) — before making a law under paragraph 5(1)(a), (a.1) or (c), including a law repealing or amending such a law, other than a law referred to in subsection 10(1), the council of a First Nation shallpublish a notice of the proposed law in the First Nations Gazette;post the notice in a public place on the reserve lands of the First Nation; andsend the notice, by mail or electronic means, to the First Nations Tax Commission.ExemptionThe First Nations Tax Commission may exempt a First Nation from the requirements of subsection (1) in respect of an amendment of a law if the Commission considers that the amendment is not significant.Content of noticeA notice referred to in subsection (1) shalldescribe the proposed law;state where a copy of the proposed law may be obtained;invite representations regarding the proposed law to be made, in writing, to the council within the period referred to in subsection (1); andif the council is to review the proposed law at a public meeting, state the time and place of the meeting.Council to consider representationsBefore making a law under paragraph 5(1)(a), (a.1) or (c), the council of a First Nation shall consider any representations that were made in accordance with paragraph (3)(c) or at a meeting referred to in paragraph (3)(d).2005, c. 9, s. 6; 2015, c. 36, s. 179; 2018, c. 27, s. 414(E)
Further representationsWhen the council of a First Nation sends a law made under paragraph 5(1)(a), (a.1) or (c), other than a law referred to in subsection 10(1), to the First Nations Tax Commission for its approval, the council shallprovide a copy of the law to any persons who made representations under paragraph 6(3)(c); andinvite those persons to make written representations to the Commission within 30 days after the day on which they receive the copy of the law.2005, c. 9, s. 7; 2018, c. 27, s. 387
Information accompanying property taxation lawA property taxation law — including an amendment of a property taxation law — shall, when submitted to the First Nations Tax Commission for approval, be accompanied bya description of the lands and interests or rights subject to the law;a description of the assessment practices to be applied to each class of land and interest or right;information regarding services to be provided from local revenues, existing service agreements and any service agreement negotiations under way at the time the law was made;a description of the notices that were given and any consultation undertaken by the council before making the law; andevidence that the law was duly made by the council.ExemptionThe First Nations Tax Commission may exempt a First Nation from the requirements of subsection (1) in respect of an amendment of a property taxation law if the Commission considers that the amendment is not significant.Accompanying informationA law made under paragraph 5(1)(a.1) or (c), when submitted to the First Nations Tax Commission for approval, shall be accompanied bya description of the notices that were given and any consultation undertaken by the council before making the law; andevidence that the law was duly made by the council.Evidence law duly madeA law made under any of paragraphs 5(1)(b) and (d) to (g) that is submitted to the First Nations Tax Commission for approval shall be accompanied by evidence that it was duly made by the council.Additional information on requestAt the request of the First Nations Tax Commission, a First Nation shall provide any documents that the Commission requires in order toreview a local revenue law;determine that the law was made in accordance with this Act, the regulations or any standards made under subsection 35(1); orperform any of its other functions under this Act.2005, c. 9, s. 8; 2015, c. 36, s. 180; 2018, c. 27, ss. 388, 414(E)
Other revenues lawsThe council of a First Nation may make lawsrespecting the borrowing from the First Nations Finance Authority of money that is secured by other revenues, including any authorization to enter into a particular borrowing agreement with that Authority;delegating to any person or body any of the council’s powers to make laws under paragraph (a); anddelegating to the First Nations Financial Management Board any of the council’s other powers that are required to give effect to a co-management arrangement entered into under section 52.1 or to give effect to third-party management under section 53.1.Coming into forceA law made under subsection (1) comes into force on the later ofthe day of coming into force set out in the law, andthe day after the day on which it is made.Judicial noticeIn any proceedings, judicial notice may be taken of laws made under subsection (1).Statutory Instruments ActThe Statutory Instruments Act does not apply in respect of laws made under subsection (1).PublicationThe First Nation shall publish all laws made under paragraphs (1)(b) and (c) in the First Nations Gazette.2023, c. 16, s. 6
Financial administration lawsThe council of a First Nation may make lawsrespecting the financial administration of the First Nation; anddelegating to any person or body its powers to make laws under paragraph (a).Approval requiredA law made under subsection (1), including any amendment of such a law, does not have any force or effect until it is approved by the First Nations Financial Management Board.Conditions for approvalThe First Nations Financial Management Board shall not approve a law made under subsection (1) unless it was made in accordance with this Act, the regulations and, in all material respects, any standards established under paragraph 55(1)(a).Coming into forceA law made under subsection (1) comes into force on the later ofthe day of coming into force set out in the law, andthe day after it is approved by the First Nations Financial Management Board.[Repealed, 2015, c. 36, s. 181]Evidence law duly madeA law made under subsection (1) that is submitted to the First Nations Financial Management Board for approval shall be accompanied by evidence that it was duly made by the council.Additional information on requestAt the request of the First Nations Financial Management Board, a First Nation shall provide any documents that the Board requires in order toreview a financial administration law submitted to the Board;determine that the law was made in accordance with this Act, the regulations or any standards made under subsection 55(1); orperform any of its other functions under this Act.Judicial noticeIn any proceedings, judicial notice may be taken of a law that is made under subsection (1) and approved by the First Nations Financial Management Board under subsection (2).2005, c. 9, s. 9; 2015, c. 36, s. 181; 2018, c. 27, s. 414(E)2023, c. 16, s. 7
Repeal of financial administration lawA borrowing member shall not repeal a financial administration law made under subsection 9(1) that has been approved by the First Nations Financial Management Board unless that law is replaced by another financial administration law that has been approved by the Board.2015, c. 36, s. 182
Law under paragraph 5(1)(a)A council of a First Nation that makes a property taxation law that requires a rate of tax to be set annually shall also make a law under paragraph 5(1)(a) setting the rate of tax to be applied to the assessed value of each class of lands and interests or rights at least once each year on or before the date prescribed by regulation or, if none is so prescribed, on or before the date fixed by standards established under subsection 35(1).Law under paragraph 5(1)(b)A council of a First Nation that makes a property taxation law or that makes a law under paragraph 5(1)(a.1) shall also make a law under paragraph 5(1)(b) establishing a budget for the expenditure of local revenues at least once each year on or before the date prescribed by regulation or, if none is so prescribed, on or before the date fixed by standards established under subsection 35(1).2005, c. 9, s. 10; 2015, c. 36, s. 182; 2018, c. 27, ss. 389, 414(E)
No repeal by borrowing membersA borrowing member with an unpaid loan secured by local revenues shall not repeal a property taxation law or a law made under paragraph 5(1)(a.1) unlessthe revenues raised under that law, if any, are not being used as security for any loan obtained from the First Nations Finance Authority and the repeal of that law would not adversely affect the member’s obligations to the First Nations Finance Authority; orthe law is concurrently replaced by a new law of the same nature that would not result in a reduction of the borrowing member’s borrowing capacity.Priority to AuthorityA law made under paragraph 5(1)(b) by a borrowing member with an unpaid loan secured by local revenues shall not authorize the expenditure of local revenues unless the borrowing member’s budget provides for the payment of all amounts payable to the First Nations Finance Authority during the budget period.Financial commitmentA borrowing member with an unpaid loan secured by local revenues shall, in every year, reserve the local revenues that are required to ensure that all amounts authorized to be paid to the First Nations Finance Authority in the year with respect to that loan are actually paid in that year.2005, c. 9, s. 11; 2015, c. 36, s. 1832023, c. 16, s. 8
Legal capacity of first nationsFor greater certainty, for the purposes of Part 4, a borrowing member has the capacity to contract and to sue and be sued.
Local revenue accountLocal revenues of a First Nation shall be placed in a local revenue account with a financial institution, separate from other moneys of the First Nation.Restriction on expendituresLocal revenues may be expended only under the authority of a law made under paragraph 5(1)(b).Balanced budgetExpenditures provided for in a law made under paragraph 5(1)(b) shall not exceed the local revenues estimated for the year in which those expenditures are to be made, less any deficit accumulated from prior years.2005, c. 9, s. 13; 2015, c. 36, s. 184; 2018, c. 27, s. 414(E)
Expenditure not authorized by lawDespite subsection 13(2), a First Nation is authorized to make an expenditure of local revenues other than under the authority of a law made under paragraph 5(1)(b) in one of the following circumstances:in the case where no law has already been made under that paragraph establishing a budget for the year in which that expenditure is made, the First Nation, after making that expenditure, makes a law under that paragraph that authorizes the making of that expenditure; orin the case where a law has already been made under that paragraph establishing a budget for the year in which that expenditure is made, the First Nation is satisfied that the making of that expenditure constitutes an urgent measure and the First Nation, as soon as feasible after making the expenditure, amends that law to authorize the making of that expenditure.2015, c. 36, s. 185; 2018, c. 27, s. 414(E)
Local revenuesLocal revenues of a First Nation shall be reported on and accounted for separately from other moneys of the First Nation in compliance with the standards established under paragraph 55(1)(d).Audited reportsFor the purposes of subsection (1), the First Nation shall prepare a financial report on its local revenues that shall be audited at least once each year. However, if it is authorised by a standard established under paragraph 55(1)(d), the First Nation may instead report on its local revenues in its audited annual financial statements as a distinct segment of the activities that appear in the statements.Access to reportThe audited financial report or the audited annual financial statements, as the case may be, shall be made available tothe members of the First Nation;any other persons who have an interest or right in the First Nation’s reserve lands;the First Nations Tax Commission, the First Nations Financial Management Board and the First Nations Finance Authority; andthe Minister.2005, c. 9, s. 14; 2015, c. 36, s. 186; 2018, c. 27, ss. 390, 414(E)
Reporting of other revenuesIf a First Nation is using other revenues as security for a loan from the First Nations Finance Authority, the First Nation shall account for all of its other revenues — including other revenues that have not been used as security for the loan — separately from its other moneys, and shall provide that accounting information to the Authority and the First Nations Financial Management Board on request.2023, c. 16, s. 9
Non-application of certain provisionsParagraphs 83(1)(a) and (b) to (g) and section 84 of the Indian Act do not apply to a First Nation and any regulations made under paragraph 73(1)(m) of that Act do not apply to a First Nation in respect of the borrowing of money under a law made under paragraph 5(1)(d) or 8.1(1)(a).2005, c. 9, s. 15; 2015, c. 36, s. 187; 2018, c. 27, s. 414(E)2023, c. 16, s. 9
First Nations Tax CommissionInterpretation
DefinitionsThe following definitions apply in this Part.Commission means the First Nations Tax Commission. (Commission)taxpayer means a person paying taxes or fees under a law made under paragraph 5(1)(a) or (a.1). (contribuable)2005, c. 9, s. 162023, c. 16, s. 10
Establishment and Organization of Commission
CommissionThere is hereby established a commission, to be known as the First Nations Tax Commission, consisting of 10 commissioners, including a Chief Commissioner and Deputy Chief Commissioner.Capacity, rights, powers and privilegesThe Commission has the capacity, rights, powers and privileges of a natural person, including the capacity toenter into contracts;acquire, hold and dispose of property or an interest or right in property, or lease property;raise, invest or borrow money; andsue and be sued.2005, c. 9, s. 17; 2018, c. 27, s. 391
When agent of Her MajestyThe Commission is an agent of Her Majesty only for the approval of local revenue laws.SavingsFor the purpose of subsection (1), the issuance of a certificate referred to in paragraph 32(2)(b) is deemed not to be an approval of a local revenue law.
Appointment of Chief CommissionerOn the recommendation of the Minister, the Governor in Council shall appoint a Chief Commissioner and Deputy Chief Commissioner.TenureThe Chief Commissioner and Deputy Chief Commissioner hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.
Appointment of commissionersOn the recommendation of the Minister, the Governor in Council shall appoint four commissioners to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.Appointment of commissionersOn the recommendation of the Minister, the Governor in Council shall appoint three additional commissioners — one of whom shall be a taxpayer using reserve lands for commercial, one for residential and one for utility purposes — to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.Appointment of additional commissionerA body prescribed by regulation shall appoint an additional commissioner to hold office during pleasure for a term not exceeding five years.Staggered termsIn determining the term of appointment of commissioners, the Governor in Council shall endeavour to ensure that the terms of no more than three commissioners expire in any one calendar year.QualificationsThe Commission shall be composed of individuals from across Canada, including members of First Nations, who are committed to the development of First Nations local revenue systems and who have the experience or capacity to enable the Commission to fulfil its mandate.2005, c. 9, s. 20; 2018, c. 27, s. 414(E)2023, c. 16, s. 11
StatusThe Chief Commissioner shall hold office on a full-time basis, while the other commissioners shall hold office on a part-time basis.
ReappointmentA commissioner may be reappointed for a second or subsequent term of office.
RemunerationCommissioners shall be paid the remuneration determined by the Governor in Council.ExpensesThe Chief Commissioner shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from their ordinary place of work. Other Commissioners shall be reimbursed for such expenses incurred in performing duties while absent from their ordinary place of residence.2005, c. 9, s. 232023, c. 16, s. 12(E)
Chief Commissioner — functionsThe Chief Commissioner is the chief executive officer of the Commission and has supervision over, and direction of, the work and staff of the Commission.
Deputy Chief Commissioner — functionsIn the event of the absence or incapacity of the Chief Commissioner, or if the office of Chief Commissioner is vacant, the Deputy Chief Commissioner shall assume the duties and functions of the Chief Commissioner.
Head officeThe head office of the Commission shall be on the reserve lands of the Tk’emlúps te Secwépemc or at any other location that the Governor in Council determines.Additional officeThe Commission shall maintain an additional office in the National Capital Region described in the schedule to the National Capital Act.2005, c. 9, s. 26; 2018, c. 27, s. 392
Rules of procedureThe Commission may make any rules that it considers necessary for the conduct of, and the fixing of a quorum for, its meetings.
StaffThe Commission mayhire any staff that is necessary to conduct the work of the Commission; anddetermine the duties of those persons and the conditions of their employment.Salaries and benefitsPersons hired under subsection (1) shall be paid the salaries and benefits fixed by the Commission.
Purposes
MandateThe purposes of the Commission are tosupport and protect the integrity of First Nations local revenue systems and promote common approaches to those systems as part of the Canadian fiscal framework;support and promote the reconciliation, in First Nations local revenue systems, of the interests of taxpayers with the responsibilities of councils to govern the affairs of First Nations;support and promote positive relationships between First Nations and taxpayers, including through the provision of support services for the resolution of disputes related to First Nations local revenue systems;assist First Nations in the exercise of their jurisdiction over local revenues;develop and deliver, and provide support for the development and delivery of, training and education services — and conduct research — respecting the implementation and administration of First Nations local revenue systems, respecting First Nations economic growth and respecting the evolution of local revenue systems;assist First Nations in growing their economies and increasing their local revenues;promote transparency of First Nations local revenue systems and understanding of those systems by members of First Nations, taxpayers and the public;conduct research and provide advice and information to the Government of Canada, including the Minister, regarding the future development and implementation of frameworks to support First Nations in exercising their jurisdiction over local revenues;conduct research, analyze information and provide advice to support the development, implementation and administration of First Nations local revenue systems;collaborate with First Nations, Indigenous institutions and organizations and all levels of government to strengthen First Nations economies and support the development of legal and administrative frameworks to promote the evolution of their jurisdiction over local revenues;support the negotiation, development and implementation of agreements related to First Nations local revenue systems;provide services to any Indigenous group named in the schedule to any regulation made under section 141; andcollect data, publish statistical information and conduct research and analysis on matters related to the purposes set out in the other paragraphs of this section.2005, c. 9, s. 29; 2018, c. 27, s. 414(E)2023, c. 16, s. 13
Functions and Powers
PowersIn furtherance of the purposes set out in section 29, the Commission may enter into cooperative arrangements and shared-cost ventures with national and international organizations to consult on or sell products or services developed for First Nations who have made property taxation laws.2005, c. 9, s. 30; 2018, c. 27, s. 414(E)
Local revenue law reviewThe Commission shall review every local revenue law.Written submissionsBefore approving a law made under paragraph 5(1)(a), (a.1) or (c), other than a law referred to in subsection 10(1), the Commission shall consider, in accordance with any regulations made under paragraph 36(1)(b), any representations made to it under paragraph 7(b) in respect of the law.Local revenue law approvalSubject to section 32, the Commission shall approve a local revenue law that complies with this Act and with any standards and regulations made under this Act.RegistryThe Commission shall maintain a registry of every law approved by it under this section and every financial administration law made under section 9.2005, c. 9, s. 31; 2018, c. 27, s. 393
RestrictionsThe Commission shall not approve a law made under paragraph 5(1)(d) with respect to a loan referred to in paragraph 74(a) unlessthe First Nation has obtained and forwarded to the Commission a certificate in respect of their financial performance, issued by the First Nations Financial Management Board under subsection 50(3); andthe First Nation has sufficient unutilized borrowing capacity in respect of that loan.Copy and certificateOn approving a law made by a First Nation under paragraph 5(1)(d) with respect to a loan referred to in paragraph 74(a), the Commission shall provide the First Nations Finance Authority witha true copy of the law registered under subsection 31(4); anda certificate stating that the law meets all the requirements of this Act and the regulations made under this Act.Notice of judicial reviewIf the Commission becomes aware that judicial review proceedings have been undertaken in respect of an approved law referred to in subsection (2), the Commission shall without delay inform the First Nations Finance Authority of those proceedings.Certificate is evidenceA certificate referred to in paragraph (2)(b) is, in the absence of evidence to the contrary, conclusive evidence in any judicial proceedings of the facts contained in it.2005, c. 9, s. 32; 2015, c. 36, s. 188; 2018, c. 27, ss. 394, 414(E)2023, c. 16, s. 14
Review on requestOn the request in writing by a member of a First Nation, or by a person who holds an interest or right in reserve lands, whois of the opinion that the First Nation has not complied with this Part or a regulation made under this Part or, with respect to local revenues, Part 1 or a regulation made under that Part or that a local revenue law has been unfairly or improperly applied,has requested the council of the First Nation to remedy the situation, andis of the opinion that the council has not remedied the situation,the Commission shall conduct a review of the matter in accordance with the regulations.Independent reviewIf the Commission is of the opinion that a First Nation has not complied with this Part or a regulation made under this Part or, with respect to local revenues, Part 1 or a regulation made under that Part or that a local revenue law has been unfairly or improperly applied, it shall conduct a review of the matter in accordance with the regulations.Remedying the situationIf, after conducting a review, the Commission considers that a First Nation has not complied with this Part or a regulation made under this Part or, with respect to local revenues, Part 1 or a regulation made under that Part or that a local revenue law has been unfairly or improperly applied, the Commissionshall order the First Nation to remedy the situation; andmay, if the First Nation does not remedy the situation within the time set out in the order, by notice in writing, require the First Nations Financial Management Board to either — at the Board’s discretion — impose a co-management arrangement on the First Nation under section 52 or assume third-party management under section 53 to remedy the situation.2005, c. 9, s. 33; 2018, c. 27, ss. 395, 414(E)2023, c. 16, s. 15
First Nations GazetteAll local revenue laws approved by the Commission and all standards and procedures established by the Commission under section 35 shall be published in the First Nations Gazette.Frequency of publicationThe Commission shall publish the First Nations Gazette at least once in each calendar year.
Standards and Procedures
StandardsThe Commission may establish standards, not inconsistent with the regulations, respectingthe form and content of local revenue laws;enforcement procedures to be included in those laws;criteria for the approval of laws made under paragraph 5(1)(d) or (f);criteria for the approval of local revenue laws respecting reserve lands that have been set apart for the use and benefit of more than one First Nation, including criteria in relation to the First Nations entering into agreements in relation to the administration of those local revenue laws and criteria in respect of those agreements;notices relating to local revenue laws, including any minimum periods applicable to the notices;the form in which information required under section 8 is to be provided to the Commission; andthe dates on or before which laws must be made by a council of a First Nation under section 10.ProceduresThe Commission may establish procedures respectingsubmission for approval of local revenue laws;approval of those laws;representation of taxpayers’ interests in the decisions of the Commission; andresolution of disputes with First Nations concerning the taxation of interests or rights on reserve lands.Statutory Instruments ActThe Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2).2005, c. 9, s. 35; 2015, c. 36, s. 189; 2018, c. 27, ss. 396, 414(E)
Data Collection, Analysis and Publication
Functions and powersThe Commission may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes.No identifying informationThe Commission shall ensure that no First Nation, entity, including an entity referred to in subsection 50.1(1), or individual can reasonably be identified, whether directly or indirectly, by any means, from any information that the Commission makes publicly available under subsection (1).ExceptionThe Commission is not required to comply with subsection (2) if the information is already in the public domain or the First Nation, entity or individual to whom it relates consents to being identified.2023, c. 16, s. 16
Information sharing agreementsThe Commission may enter into agreements with a First Nation, entity, including an entity referred to in subsection 50.1(1), or individual or any level of government concerning the sharing of information for research, analysis and publication purposes.2023, c. 16, s. 16
Regulations
RegulationsThe Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Commission, make regulationsprescribing anything that is to be prescribed under subparagraph 5(1)(a)(i), paragraph 5(1)(e) or (4)(a), subsection 5(7) or section 10;establishing procedures to be followed for the purposes of section 31 or 33, including proceduresfor requiring the production of documents from a First Nation or person requesting a review under subsection 33(1),for conducting hearings, andauthorizing the Commission to apply to a justice of the peace for a subpoena compelling a person to appear before the Commission to give evidence and bring any documents specified in the subpoena, and to pay associated travel expenses;prescribing fees to be charged by the Commission for services to First Nations and other organizations; andrespecting the exercise of the law-making powers of First Nations under subsection 5(1).Provincial differencesRegulations made under paragraph (1)(a) may vary from province to province.Authority to varyRegulations made under paragraph (1)(b) may authorize the Commission tovary the procedures to accommodate the customs or culture of a First Nation in respect of which a hearing is being held;extend or shorten any period provided for in those regulations;dispense with compliance with any procedure provided for in the regulations in the interest of securing a just, expeditious and inexpensive hearing of a complaint; anddelegate any of the powers of the Commission under section 31 or 33 to a panel consisting of one or more commissioners.Designation of panels by Chief CommissionerRegulations made under paragraph (1)(b) may authorize or require the Chief Commissioner to designate the members of a panel for the purposes of the delegation of powers referred to in paragraph (3)(d).InconsistenciesIn the event of an inconsistency between a law made under subsection 5(1) and regulations made under subsection (1), the regulations prevail to the extent of the inconsistency.2005, c. 9, s. 36; 2015, c. 36, s. 190; 2018, c. 27, s. 414(E)
First Nations Financial Management BoardInterpretation
Definition of BoardIn this Part, Board means the First Nations Financial Management Board.
Establishment and Organization of Board
EstablishmentThere is established a board, to be known as the First Nations Financial Management Board, to be managed by a board of directors consisting of a minimum of nine and a maximum of 13 directors, including a Chairperson and Vice-Chairperson.Capacity, rights, powers and privilegesThe Board has the capacity, rights, powers and privileges of a natural person, including the capacity toenter into contracts;acquire, hold and dispose of property or an interest or right in property, or lease property;raise, invest or borrow money; andsue and be sued.2005, c. 9, s. 38; 2010, c. 12, s. 1733; 2018, c. 27, s. 397
Not agent of Her MajestyThe Board is not an agent of Her Majesty.
Appointment of ChairpersonOn the recommendation of the Minister, the Governor in Council shall appoint a Chairperson to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.
Appointment of additional directorsThe Governor in Council, on the recommendation of the Minister, shall appoint a minimum of five, and a maximum of nine, other directors to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.Indigenous directorsThe Governor in Council shall endeavour to ensure that the majority of the directors are Indigenous.Appointment by AFOA CanadaAFOA Canada, or any other body prescribed by regulation, shall appoint up to three additional directors to hold office during pleasure for a term not exceeding five years.Staggered termsIn determining the term of appointment of directors, the Governor in Council shall endeavour to ensure that the terms of no more than three directors expire in any one calendar year.QualificationsThe board of directors shall be composed of individuals from across Canada, including members of First Nations, who are committed to the strengthening of the financial management of First Nations or of entities referred to in paragraphs 50.1(1)(a) to (c) and who have the experience or capacity to enable the Board to fulfil its mandate.2005, c. 9, s. 41; 2010, c. 12, s. 1734; 2017, c. 26, s. 50; 2018, c. 27, s. 414(E)2023, c. 16, s. 17
Election of Vice-ChairpersonThe board of directors shall elect a Vice-Chairperson from among the directors.FunctionsIn the event of the absence or incapacity of the Chairperson, or if the office of Chairperson is vacant, the Vice-Chairperson shall assume the duties and functions of the Chairperson.
ReappointmentDirectors may be reappointed for a second or subsequent term of office.
StatusThe Chairperson shall hold office on a full-time basis and the other directors shall hold office on a part-time basis.2005, c. 9, s. 442023, c. 16, s. 18
RemunerationDirectors shall be paid the remuneration determined by the Governor in Council.ExpensesThe Chairperson shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from their ordinary place of work. Other directors shall be reimbursed for such expenses incurred in performing duties while absent from their ordinary place of residence.2005, c. 9, s. 452023, c. 16, s. 19
Rules of procedureThe board of directors may make any rules that it considers necessary for the conduct of its meetings.
Head officeThe head office of the Board shall be at a location determined by the Governor in Council.
StaffThe board of directors mayhire any staff that is necessary to conduct the work of the Board; anddetermine the duties of those persons and the conditions of their employment.Salaries and benefitsPersons hired under subsection (1) shall be paid the salary and benefits fixed by the board of directors.
Purposes
MandateThe purposes of the Board are toassist First Nations and entities referred to in subsection 50.1(1) in developing the capacity to meet their financial management requirements;assist First Nations and entities referred to in subsection 50.1(1) in developing and implementing laws and by-laws respecting financial administration;assist First Nations and entities referred to in paragraphs 50.1(1)(a) to (c) in their dealings with different levels of governments respecting financial management, including matters of accountability and shared fiscal responsibility;assist First Nations and entities referred to in paragraphs 50.1(1)(a) to (c) in the development, implementation and improvement of financial relationships with financial institutions, business partners and different levels of governments, to enable the economic and social development of First Nations and of those entities;develop and support the application of general credit rating criteria to First Nations;provide review and audit services respecting First Nation financial management;provide assessment and certification services respecting First Nation financial management and financial performance;provide monitoring and reporting services respecting financial management systems and financial performance;provide First Nations and entities referred to in subsection 50.1(1) with monitoring and reporting services respecting the implementation of laws and by-laws respecting financial administration and the compliance of those laws and by-laws with applicable standards;provide services respecting the co-management and third-party management of local revenues and other revenues;provide advice, policy research and review and evaluative services on the development of fiscal arrangements between different levels of governments and First Nations, as well as on the development of fiscal arrangements between different levels of governments and entities referred to in paragraphs 50.1(1)(a) to (c);develop, implement, test and evaluate, as well as conduct research with respect to, proposals and pilot projects related to the purposes set out in the other paragraphs of this section;assist First Nations, entities referred to in subsection 50.1(1), other levels of government and public and private organizations in the development and implementation of fiscal and economic proposals that contribute to responding to the Truth and Reconciliation Commission of Canada’s Calls to Action and to implementing the United Nations Declaration on the Rights of Indigenous Peoples; andcollect data, publish statistical information and conduct research and analysis on matters related to the purposes set out in the other paragraphs of this section.2005, c. 9, s. 49; 2018, c. 27, s. 414(E)2023, c. 16, s. 20
Functions and Powers
Review of financial management systemOn the request of the council of a First Nation, the Board may review the First Nation’s financial management system or financial performance for compliance with the standards established under subsection 55(1).ReportOn completion of a review under subsection (1), the Board shall provide to the First Nation a report setting outthe scope of the review undertaken; andan opinion as to whether the First Nation was in compliance with the standards or as to which aspects of the standards were not complied with by the First Nation.Issuance of certificateIf after completing a review under subsection (1) the Board is of the opinion that the First Nation was in compliance, in all material respects, with the standards, it shall issue to the First Nation a certificate to that effect.Revocation of certificateThe Board may, on giving notice to a council, revoke a certificate issued under subsection (3) if, on the basis of financial or other information available to the Board, it is of the opinion thatthe basis on which the certificate was issued has materially changed;the First Nation provided information that is incomplete or incorrect or made misrepresentations to the Board; orthe First Nation is no longer in compliance, in all material respects, with the standards.Form and contentThe Board may determine the form and content of certificates issued under subsection (3), including any restrictions as to the purposes for which, and the persons by whom, they are intended to be used.Remedial measures requiredIf a borrowing member’s certificate is revoked, the borrowing member shall, without delay, take any measures required to re-establish its certification.Opinion finalAn opinion of the Board referred to in this section is final and conclusive and is not subject to appeal.2005, c. 9, s. 50; 2015, c. 36, s. 191; 2018, c. 27, s. 414(E)
Review and monitoringOn the request of a First Nation or under the terms of an agreement between a First Nation and any level of government, the Board may review or monitorthe implementation of laws of the First Nation respecting financial administration;the compliance of those laws with the standards established under paragraph 55(1)(a); andthe First Nation’s compliance with the standards established under paragraph 55(1)(c) or (d).ReportOn completion of a review, or from time to time while carrying out monitoring, the Board shall provide to the First Nation a report setting out its findings and any recommendations.ProceduresThe Board may establish procedures respectingthe requests for review and monitoring referred to in subsection (1);the review and monitoring referred to in subsection (1); andthe reports referred to in subsection (2).Statutory Instruments ActThe Statutory Instruments Act does not apply in respect of procedures established under subsection (3).2023, c. 16, s. 21
Review of financial management system — non-scheduled entitiesOn the request of any of the following entities, the Board may review the entity’s financial management system, financial performance or laws or by-laws respecting financial administration to determine whether it is in compliance, in all material respects, with the standards established under subsection (3):a band that is not named in the schedule;a tribal council;an Indigenous group that is a party to a treaty, land claims agreement or self-government agreement with Canada or with a province, or an entity established under, or as a result of, such a treaty or agreement;an entity — owned or controlled by one or more First Nations or entities referred to in paragraph (a), (b) or (c) — whose mandate is primarily to promote the well-being or advancement of Indigenous people; ora not-for-profit organization established to provide public services to Indigenous groups or Indigenous persons, including services with respect to social welfare, infrastructure, housing, recreational or cultural activities, health or education.ReportOn completion of a review under subsection (1), the Board shall provide to the entity a report setting outthe scope of the review undertaken; andan opinion as to whether the entity was in compliance, in all material respects, with the standards or as to which aspects of the standards were not complied with by the entity.StandardsThe Board may establish standards, not inconsistent with the regulations, respectingfinancial management systems and financial performance of entities referred to in subsection (1); andthe form and content of laws or by-laws respecting financial administration of entities referred to in subsection (1).ProceduresThe Board may establish procedures respecting the review referred to in subsection (1).Statutory Instruments ActThe Statutory Instruments Act does not apply to a standard established under subsection (3) or a procedure established under subsection (4).First Nations GazetteAll standards established by the Board under subsection (3) shall be published in the First Nations Gazette.2018, c. 27, s. 3982023, c. 16, s. 22
Review and monitoringOn the request of an entity referred to in subsection 50.1(1) or under the terms of an agreement between such an entity and any level of government, the Board may review or monitorthe implementation of laws or by-laws made by the entity respecting financial administration;the compliance of those laws or by-laws with the standards established under paragraph 50.1(3)(b); andthe entity’s compliance with the standards established under paragraph 50.1(3)(a).ReportOn completion of a review, or from time to time while carrying out monitoring, the Board shall provide to the entity a report setting out its findings and any recommendations.ProceduresThe Board may establish procedures respectingthe requests for review and monitoring referred to in subsection (1);the review and monitoring referred to in subsection (1); andthe reports referred to in subsection (2).Statutory Instruments ActThe Statutory Instruments Act does not apply in respect of procedures established under subsection (3).2023, c. 16, s. 23
Required intervention — local revenuesOn receipt of a notice from the First Nations Tax Commission under paragraph 33(3)(b) or from the First Nations Finance Authority under subsection 86(4), the Board shall either require the First Nation to enter into a co-management arrangement in accordance with section 52 or assume third-party management in accordance with section 53, as the Board sees fit.Required intervention — other revenuesOn receipt of a notice from the First Nations Finance Authority under subsection 86(5), the Board shall either require the First Nation to enter into a co-management arrangement in accordance with section 52.1 or assume third-party management in accordance with section 53.1, as the Board sees fit.2005, c. 9, s. 51; 2018, c. 27, s. 414(E)2023, c. 16, s. 24
Imposed co-management — local revenuesThe Board may, on giving notice to the council of a First Nation, require the First Nation to enter into a co-management arrangement in respect of the First Nation’s local revenues, including its local revenue account,if, in the opinion of the Board, there is a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by local revenues; orif the Board has received a notice under paragraph 33(3)(b) or subsection 86(4).PowersUnder the co-management arrangement, the Board mayrecommend amendments to a law of the First Nation made under any of paragraphs 5(1)(a) to (f) or subsection 9(1);recommend changes to the First Nation’s expenditures or budgets with respect to its local revenues;recommend improvements to the First Nation’s financial management system with respect to its local revenues;recommend changes to the delivery of programs and services paid for out of the First Nation’s local revenues;order that expenditures of local revenues of the First Nation be approved by, or paid with cheques co-signed by, a manager appointed by the Board; andwith respect to local revenues, exercise any powers delegated to the Board under a law of the First Nation or under an agreement between the First Nation and the Board or the First Nation and the First Nations Finance Authority.Termination by BoardThe Board may terminate the co-management arrangement on giving notice to the council of the First Nation that the Board is of the opinion thatthere is no longer a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by local revenues;in the case of a First Nation that was in default of a payment obligation to the First Nations Finance Authority relating to a loan secured by local revenues, the First Nation has remedied the default;the co-management arrangement is no longer required; orthird-party management of the First Nation’s local revenues is required.Opinion finalAn opinion given by the Board under this section is final and conclusive and is not subject to appeal.NoticeThe Board shall advise the First Nations Finance Authority and the First Nations Tax Commission of the commencement or termination of the co-management arrangement.2005, c. 9, s. 52; 2018, c. 27, s. 414(E)2023, c. 16, s. 25
Imposed co-management — other revenuesThe Board may, on giving notice to the council of a First Nation, require the First Nation to enter into a co-management arrangement in respect of the First Nation’s other revenues, including those that have not been used as security for a loan from the First Nations Finance Authority,if, in the opinion of the Board, there is a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues; orif the Board has received a notice under subsection 86(5).PowersUnder the co-management arrangement, the Board mayrecommend amendments to a law of the First Nation made under any of paragraphs 8.1(1)(a) or (b) or subsection 9(1);recommend changes to the First Nation’s expenditures or budgets with respect to its other revenues;recommend improvements to the First Nation’s financial management system with respect to its other revenues;recommend changes to the delivery of programs and services that are paid for out of the First Nation’s other revenues;order that expenditures of other revenues of the First Nation be approved by, or paid with cheques co-signed by, a manager appointed by the Board; andwith respect to other revenues, exercise any powers delegated to the Board under a law of the First Nation or under an agreement between the First Nation and the Board or the First Nation and the First Nations Finance Authority.Termination by BoardThe Board may terminate the co-management arrangement on giving notice to the council of the First Nation that the Board is of the opinion thatthere is no longer a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues;in the case of a First Nation that was in default of a payment obligation to the First Nations Finance Authority relating to a loan secured by other revenues, the First Nation has remedied the default;the co-management arrangement is no longer required; orthird-party management of the First Nation’s other revenues is required.Opinion finalAn opinion given by the Board under this section is final and conclusive and is not subject to appeal.NoticeThe Board shall advise the First Nations Finance Authority and the First Nations Tax Commission of the commencement or termination of the co-management arrangement.2023, c. 16, s. 26
Third-party management — local revenuesThe Board may, on giving notice to the council of a First Nation and to the Minister, assume management of the First Nation’s local revenues, including its local revenue account,if, in the opinion of the Board, the co-management arrangement entered into under section 52 has not been effective;if, in the opinion of the Board, there is a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by local revenues; orif the Board has received a notice under paragraph 33(3)(b) or subsection 86(4).PowersIf the Board assumes third-party management of the local revenues of a First Nation, the Board has the exclusive authority tosubject to subsection (3), act in the place of the council of the First Nation to make laws under paragraphs 5(1)(a) to (f) and subsection 9(1);act in the place of the council of the First Nation towith respect to local revenues, exercise any powers and fulfil any obligations of the council under this Act, including under the regulations made under this Act, or under any laws made under paragraphs 5(1)(a) to (e) and 9(1)(a),manage the First Nation’s local revenues, including the local revenue account,undertake any necessary borrowing for the purpose of remedying the situation for which third-party management was required, andprovide for the delivery of programs and services that are paid for out of the First Nation’s local revenues, manage assets related to those programs and services and enter into or terminate agreements in respect of those programs, services and assets;[Repealed, 2018, c. 27, s. 399]assign interests or rights under subsection 5(7); andwith respect to local revenues, exercise any powers or fulfil any obligations delegated to the Board under a law of the First Nation or an agreement between the First Nation and the Board or between the First Nation and the First Nations Finance Authority.[Repealed, 2018, c. 27, s. 399]Delegation — consent of council requiredThe Board shall not make a law under paragraph 5(1)(f) or 9(1)(b) that delegates a power to a person or body to whom a power was not delegated at the time the Board assumed third-party management of the local revenues of a First Nation, unless the council of the First Nation gives its consent.ProhibitionThe council of the First Nation shall not, during the time that the board assumes third-party management of the First Nation’s local revenues, repeal any law made under paragraph 5(1)(g).Review every six monthsWhere the Board has assumed third-party management of a First Nation’s local revenues, it shall review the need for third-party management at least once every six months and advise the First Nations Finance Authority, the First Nations Tax Commission and the council of the First Nation of the results of its review.Board not agent or mandataryFor greater certainty, the Board is not an agent or mandatary of the First Nations Finance Authority or the First Nations Tax Commission while exercising its exclusive authority under subsection (2).Termination by BoardThe Board may terminate third-party management of a First Nation’s local revenues, on giving notice to the council of the First Nation, ifit is of the opinion that there is no longer a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by local revenues and the Authority consents to the termination in writing;in the case of a First Nation that was in default of an obligation to the First Nations Finance Authority relating to a loan secured by local revenues, it is of the opinion that the First Nation has remedied the default and the Authority consents to the termination in writing;it is of the opinion that the situation for which third-party management of the First Nation’s local revenues was required has been remedied; orin the case of third-party management that was assumed by the Board following receipt of a notice under subsection 86(4), the First Nations Finance Authority has, in writing, requested the termination and stated its reasons for the request.Opinion finalAn opinion given by the Board under this section is final and conclusive and is not subject to appeal.NoticeThe Board shall advise the First Nations Finance Authority and First Nations Tax Commission of the assumption or termination of third-party management of a First Nation’s local revenues.2005, c. 9, s. 53; 2015, c. 36, s. 192; 2018, c. 27, ss. 399, 414(E)2023, c. 16, s. 27
Third-party management — other revenuesThe Board may, on giving notice to the council of a First Nation and to the Minister, assume management of the First Nation’s other revenues, including those that have not been used as security for a loan from the First Nations Finance Authority,if, in the opinion of the Board, the co-management arrangement entered into under section 52.1 has not been effective;if, in the opinion of the Board, there is a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues; orif the Board has received a notice under subsection 86(5).PowersIf the Board assumes third-party management of the other revenues of a First Nation, the Board has the exclusive authority tosubject to subsection (5), act in the place of the council of the First Nation to make laws under paragraphs 8.1(1)(a) and (b) and subsection 9(1);act in the place of the council of the First Nation towith respect to other revenues, exercise any powers and fulfil any obligations of the council under this Act, including under the regulations made under this Act, or under any laws made under paragraph 8.1(1)(a) or 9(1)(a),manage the First Nation’s other revenues,manage assets of the First Nation that are generating other revenues, including by exercising any powers of the council to terminate an agreement, or enter into a new agreement, in respect of those assets,undertake any necessary borrowing for the purpose of remedying the situation for which third-party management was required, andprovide for the delivery of programs and services that are paid for out of the First Nation’s other revenues, manage assets related to those programs and services and enter into or terminate agreements in respect of those programs, services and assets; andwith respect to other revenues, exercise any powers or fulfil any obligations delegated to the Board under a law of the First Nation or an agreement between the First Nation and the Board or between the First Nation and the First Nations Finance Authority.Scope of powerIn exercising the authority referred to in subparagraph (2)(b)(ii), the Board may manage other revenues of a First Nation that were received before, or that are received after, the Board assumes management of the First Nation’s other revenues, including those that are comingled with other moneys of the First Nation. However, the Board may not manage the First Nation’s other revenues that are in a secured revenues trust account or an intermediate account.Board not agent or mandataryFor greater certainty, the Board is not an agent or mandatary of the First Nations Finance Authority while exercising its exclusive authority under subsection (2).Delegation — consent of council requiredThe Board shall not make a law under paragraph 8.1(1)(b) or 9(1)(b) that delegates a power to a person or body to whom a power was not delegated at the time the Board assumed third-party management of the other revenues of a First Nation, unless the council of the First Nation gives its consent.ProhibitionThe council of a First Nation shall not, during the time that the Board assumes third-party management of the First Nation’s other revenues, repeal any law made under paragraph 8.1(1)(c).Review every six monthsIf the Board has assumed third-party management of a First Nation’s other revenues, it shall review the need for third-party management at least once every six months and advise the First Nations Finance Authority, the First Nations Tax Commission and the council of the First Nation of the results of its review.Termination by BoardThe Board may terminate third-party management of a First Nation’s other revenues, on giving notice to the council of the First Nation, ifit is of the opinion that there is no longer a serious risk that the First Nation will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues and the Authority consents to the termination in writing;in the case of a First Nation that was in default of an obligation to the First Nations Finance Authority relating to a loan secured by other revenues, it is of the opinion that the First Nation has remedied the default and the Authority consents to the termination in writing;it is of the opinion that the situation for which third-party management of the First Nation’s other revenues was required has been remedied; orin the case of third-party management that was assumed by the Board following receipt of a notice under subsection 86(5), the First Nations Finance Authority has, in writing, requested the termination and stated its reasons for the request.Opinion finalAn opinion given by the Board under this section is final and conclusive and is not subject to appeal.NoticeThe Board shall advise the First Nations Finance Authority and First Nations Tax Commission of the assumption or termination of third-party management of a First Nation’s other revenues.2023, c. 16, s. 28
Required informationAt the request of the Board, a First Nation shall provide to the Board any information about the First Nation’s financial management system and financial performance that the Board requires for a decision regarding a co-management arrangement or third-party management of the First Nation’s local revenues or other revenues.2005, c. 9, s. 54; 2018, c. 27, s. 414(E)2023, c. 16, s. 29
Standards and Procedures
StandardsThe Board may establish standards, not inconsistent with the regulations, respectingthe form and content of laws made under section 9;approvals of the Board under Part 1;certification of First Nations under section 50; andfinancial reporting under subsection 14(1).ProceduresThe Board may establish procedures respectingthe submission for approval and approval of laws made under section 9;the issuance of a certificate under subsection 50(3); andthe implementation or termination of a co-management arrangement or third-party management of a First Nation’s local revenues or other revenues.Statutory Instruments ActThe Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2).First Nations GazetteAll laws made under section 9 and approved by the Board and all standards established by the Board under subsection (1) shall be published in the First Nations Gazette.2005, c. 9, s. 55; 2018, c. 27, s. 414(E)2023, c. 16, s. 30
Data Collection, Analysis and Publication
Functions and powersThe Board may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes.No identifying informationThe Board shall ensure that no First Nation, entity, including an entity referred to in subsection 50.1(1), or individual can reasonably be identified, whether directly or indirectly, by any means, from any information that the Board makes publicly available under subsection (1).ExceptionThe Board is not required to comply with subsection (2) if the information is already in the public domain or the First Nation, entity or individual to whom it relates consents to being identified.2023, c. 16, s. 31
Information sharing agreementsThe Board may enter into agreements with a First Nation, entity, including an entity referred to in subsection 50.1(1), or individual or any level of government concerning the sharing of information for research, analysis and publication purposes.2023, c. 16, s. 31
Regulations
RegulationsThe Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Board, make regulationsrespecting the implementation of a co-management arrangement or third-party management of a First Nation’s local revenues or other revenues, including the obligations of affected First Nations to provide access to financial records; andfixing fees that the Board may charge for services, including fees to First Nations for co-management and third-party management services, and the manner in which the fees may be recovered.2005, c. 9, s. 56; 2018, c. 27, s. 414(E)2023, c. 16, s. 32
RegulationsFor the purpose of enabling an entity referred to in any of paragraphs 50.1(1)(a) to (e) to obtain the services of the Board, other than co-management and third-party management services, the Governor in Council may make any regulations that the Governor in Council considers necessary, including regulationsadapting any provision of this Act or of any regulation made under this Act; andrestricting the application of any provision of this Act or of any regulation made under this Act.2018, c. 27, s. 4002023, c. 16, s. 33(F)
First Nations Finance AuthorityInterpretation
DefinitionsThe following definitions apply in this Part.Authority means the First Nations Finance Authority. (Administration)investing member means a First Nation that has invested in a short-term investment pool managed by the Authority. (membre investisseur)long-term loan[Repealed, 2023, c. 16, s. 34]member means a borrowing member or investing member. (membre)property tax revenues means moneys raised under laws made under paragraphs 5(1)(a) and (a.1) and payments made to a First Nation in lieu of a tax imposed by a law made under paragraph 5(1)(a). (recettes fiscales foncières)representative, in respect of a First Nation that is a member, means the chief or a councillor of the First Nation who is designated as a representative by a resolution of its council. (représentant)security means a security of the Authority issued under paragraph 75(1)(b). (titre)short-term loan[Repealed, 2023, c. 16, s. 34]2005, c. 9, s. 57; 2015, c. 36, s. 193; 2018, c. 27, s. 414(E)2023, c. 16, s. 34
Establishment and Organization of Authority
EstablishmentThere is hereby established a non-profit corporation without share capital, to be known as the First Nations Finance Authority.
MembershipThe members of the Authority shall be its borrowing members and investing members.
Not agent of Her MajestyThe Authority is not an agent of Her Majesty or a Crown corporation within the meaning of the Financial Administration Act, and its officers and employees are not part of the federal public administration.No guaranteesNo person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of the Authority.2005, c. 9, ss. 60, 154(E)
Board of DirectorsThe Authority shall be managed by a board of directors, consisting of from 5 to 11 directors, including a Chairperson and Deputy Chairperson, elected from among the representatives of borrowing members.Nomination of directorsA representative of a borrowing member may nominate a representative of a borrowing member for election as Chairperson or Deputy Chairperson or as a director other than the Chairperson or Deputy Chairperson.Election of directorsDirectors shall be elected by representatives of borrowing members.2005, c. 9, s. 61; 2018, c. 27, s. 401
Function of Deputy ChairpersonIn the event of the absence or incapacity of the Chairperson, or if the office of Chairperson is vacant, the Deputy Chairperson shall assume the duties and functions of the Chairperson.
Term of officeDirectors shall hold office on a part-time basis for a term of one year.Additional termsA director is eligible to be re-elected for a second or subsequent term of office.Ceasing to be directorA person ceases to be a director whenthe person ceases to hold office as a chief or councillor of a First Nation that is a borrowing member;the person’s designation as a representative of a borrowing member is revoked by a resolution of the council of that First Nation; orthe person is removed from office before the expiry of the term of the appointment by a special resolution of the board of directors.2005, c. 9, s. 63; 2018, c. 27, s. 402
QuorumTwo thirds of the directors constitute a quorum at any meeting of the board of directors.
Majority voteDecisions by the board of directors shall be made by a majority vote of the directors present.
Canada Not-for-profit Corporations ActThe Canada Not-for-profit Corporations Act does not apply to the Authority.Canada Business Corporations ActThe following provisions of the Canada Business Corporations Act apply, with any modifications that the circumstances require, to the Authority and its directors, members, officers and employees as if the Authority were a corporation incorporated under that Act, this Part were its articles of incorporation and its members were its shareholders:subsection 15(1) (capacity of a natural person);section 16 (by-law not required to confer powers on Authority, restriction on powers of Authority, and validity of acts of Authority);subsection 21(1) (access to Authority’s records by members and creditors);section 23 (corporate seal not needed to validate instrument);subsections 103(1) to (4) (powers of directors to make and amend by-laws, member approval of by-laws and effective date of by-laws);subsection 105(1) (qualifications of directors);subsection 108(2) (resignation of director);section 110 (right of director to attend members’ meetings and statements by retiring directors);subsection 114(1) (place of directors’ meetings);section 116 (validity of acts of directors and officers);section 117 (validity of directors’ resolutions not passed at meeting);subsections 119(1) and (4) (liability of directors);section 120 (conflict of interests of directors);section 123 (directors’ dissents);section 124 (directors’ indemnity);section 155 (financial statements);section 158 (approval of financial statements by directors);section 159 (sending financial statements to members before annual meeting);sections 161 and 162 (qualifications and appointment of auditor);section 168 (rights and duties of auditor);section 169 (examination by auditor);section 170 (auditor’s right to information);subsections 171(3) to (9) (duty and administration of audit committee and penalty for failure to comply);section 172 (qualified privilege in defamation for auditor’s statements); andsubsections 257(1) and (2) (certificates of Authority as evidence).2005, c. 9, s. 66; 2009, c. 23, ss. 328, 354
Remuneration of directorsDirectors shall be paid a fee for attend­ance at meetings of the board of directors, as fixed by the by-laws of the Authority.
Duty of careThe directors and officers of the Authority in exercising their powers and performing their duties shallact honestly and in good faith with a view to the best interests of the Authority; andexercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.Limit of liabilityDirectors and officers are not liable for a failure to comply with subsection (1) if they rely in good faith ona written report of the auditor of the Authority or financial statements represented by an officer of the Authority as fairly reflecting the financial condition of the Authority; ora report of a lawyer, notary, accountant, engineer, appraiser or other person whose position or profession lends credibility to a statement made by that person.
PresidentThe board of directors shall appoint a President to act as the chief executive officer of the Authority.Other staffThe President may employ any other officers and employees that are necessary to conduct the work of the Authority.
Annual general meetingThe Authority shall hold an annual general meeting of representatives for the purpose ofpresenting the annual report and audited financial statements of the Authority;electing the board of directors; anddealing with any other business of the Authority that may be presented by the board of directors.
By-lawsThe board of directors may make by-lawsrespecting the calling and conduct of meetings of the board, including the holding of meetings by teleconference;fixing the fees to be paid to directors for attendance at meetings of the board and the reimbursement of reasonable travel and living expenses to directors;respecting the duties and conduct of the directors, officers and employees of the Authority and the terms and conditions of employment and of the termination of employment of officers and employees of the Authority;respecting the signing and sealing of securities and interest coupons issued by the Authority; andgenerally for the conduct and management of the affairs of the Authority.
Head officeThe head office of the Authority shall be on reserve lands at a location determined by the board of directors.
Annual budgetAt the beginning of every year, the President shall prepare an annual budget of the Authority and present it to the board of directors for approval.
Purposes
MandateThe purposes of the Authority are tosecure for its borrowing members, through the use of property tax revenues,loans that have terms of one year or longer to finance or refinance capital assets for the provision of local services on reserve lands, orloans that have terms of less than one year to meet cash-flow requirements for operating or capital purposes or to refinance a short-term debt incurred for capital purposes;[Repealed, 2023, c. 16, s. 35]secure for its borrowing members, through the use of other revenues, loans for any purpose that promotes a First Nation’s economic or social development, including loans forcapital assets that are to be wholly or partly owned by the First Nation, including capital assets for the provision of services, housing, plants, machinery, roads and buildings,rolling stock that is to be wholly or partly owned by the First Nation,land that is to be wholly or partly owned by the First Nation,shares or any other ownership interest in a corporation whose purpose includes the ownership, operation, management or sale of the products of power generating facilities, waste or wastewater treatment facilities or other public service utilities or facilities, andshort-term financing to meet cash flow requirements for capital purposes or to refinance a short-term debt incurred for capital purposes;secure the best possible credit terms for its borrowing members;provide investment services to First Nations and entities referred to in any of paragraphs 50.1(1)(a) to (e); andprovide advice regarding the development of financing mechanisms for First Nations.2005, c. 9, s. 74; 2018, c. 27, ss. 403, 414(E)2023, c. 16, s. 35
Functions and Powers
Powers of board of directorsFor the purposes of this Part, the board of directors may by resolutionborrow money in an amount authorized by the resolution;issue securities of the Authority;lend securities to generate income, if the loan is fully secured;enter into agreements for risk management purposes, including swaps; andprovide forpayments related to the issuance of securities,the registration, transfer, management and redemption of securities,the re-issuance, reinstatement or other disposition of lost, stolen, destroyed or damaged securities or interest coupons,the examination, cancellation or destruction of securities and of materials used in their production, orthe timing of the issuance of securities.Security issuance requirementsA resolution respecting the issuance of securities shall set outthe rate of interest;the time and place of repayment of principal and interest; andthe currency in which repayment of principal and interest will be made.Security issuance resolutionsA resolution respecting the issuance of securities may provide thatthe securities are to be redeemable in advance of maturity at a time and price set out in the resolution;all or any part of the securities may be paid, refunded or renewed;the securities are to be issued in an amount sufficient to realize the amount of any securities called in and paid before maturity, for a term not longer than the remainder of the term of the securities called in and paid; orthe securities and any interest coupons attached to them are to be in the form set out in the resolution, and are to be exchangeable for other securities of the same issue on any terms and conditions set out in the resolution.Amount of issueThe Authority may issue securities the principal amounts of which, after payment of any discount and the costs of issue and sale, will realize the net amount authorized by the board of directors in a resolution made under paragraph (1)(a).Declaration conclusiveA declaration in a resolution authorizing the issuance of securities that it is necessary to issue securities in the principal amount authorized in order to realize the net amount authorized is conclusive evidence of that fact.Sale priceThe board of directors may sell securities at their par value or at other than par value.DelegationThe board of directors may delegate its powers under this section to a committee of directors and officers of the Authority, subject to any limitations that the board of directors may impose.
Application to become borrowing memberA First Nation may apply to the Authority to become a borrowing member.CriteriaThe Authority shall accept a First Nation as a borrowing member only if the First Nations Financial Management Board has issued to the First Nation a certificate in respect of their financial performance under subsection 50(3) and has not subsequently revoked it.2005, c. 9, s. 76; 2015, c. 36, s. 194; 2018, c. 27, s. 414(E)
Ceasing to be borrowing memberA borrowing member that has obtained a loan from the Authority may cease to be a borrowing member only with the consent of all other borrowing members.2005, c. 9, s. 77; 2015, c. 36, s. 195; 2018, c. 27, s. 414(E)2023, c. 16, s. 36
PriorityIf a borrowing member is insolvent, the Authority has priority over all other creditors of the borrowing member for all moneys that are authorized or obligated to be paid to the Authority under a law made by the borrowing member, under this Act, including under the regulations, or under an agreement relating to borrowing from the Authority, but the priority is only in respect of any debt that arises on or after the day on which the borrowing member receives the initial disbursement of the first loan that it obtained from the Authority.Debts to the CrownFor greater certainty, subsection (1) does not apply to Her Majesty.2005, c. 9, s. 78; 2015, c. 36, s. 196; 2018, c. 27, ss. 404(F), 414(E)2023, c. 16, s. 37
Limitations — loans secured by property tax revenuesThe Authority shall not make a loan secured by property tax revenues to a borrowing member unless the First Nations Tax Commission has approved a law made by the borrowing member under paragraph 5(1)(d) in respect of that loan.Limitations — loans secured by other revenuesThe Authority shall not make a loan secured by other revenues to a borrowing member unlessthe borrowing member has made a law under paragraph 8.1(1)(a) in respect of that loan and forwarded a copy of it to the Authority;the Authority is satisfied that the borrowing member has the ability to repay the loan;the borrowing member has obtained a certificate respecting financial performance from the First Nations Financial Management Board under subsection 50(3) and forwarded a copy of it to the Authority;the borrowing member and the Authority have established a secured revenues trust account that ismanaged by a third party approved by the Authority, andsubject to terms that require the third party managing the account to periodically pay to the Authority the amounts required to be paid to it under the borrowing agreement with the borrowing member, at the times set out in that agreement, before paying any remaining amount to the borrowing member; andthe borrowing member has required the payers of the other revenues being used to secure the loan to deposit those other revenues into the secured revenues trust account or an intermediate account during the period of the loan.2005, c. 9, s. 79; 2015, c. 36, s. 197; 2018, c. 27, s. 4052023, c. 16, s. 38
Maintenance of registry and publicationThe Authority shall maintain a registry of every law made under paragraph 8.1(1)(a) that is forwarded to it under paragraph 79(2)(a) and shall publish a copy of each law on an Internet website to be maintained by the Authority within 30 days after the day on which it is received.2023, c. 16, s. 38
RestrictionA borrowing member that has obtained a loan from the Authority that is secured by property tax revenues and has a term of one year or longer shall not subsequently obtain such a loan from any other person as long as the loan from the Authority remains unpaid.2005, c. 9, s. 80; 2015, c. 36, s. 1972023, c. 16, s. 39
Limitations — short-term loansThe Authority shall not make a loan that has a term of less than one year to a borrowing member for a purpose described in subparagraph 74(a)(ii) unless the loan is made in anticipation of local revenues set out in a law made by the borrowing member under paragraph 5(1)(b).2005, c. 9, s. 812023, c. 16, s. 39
Sinking fundThe Authority shall establish a sinking fund, or any other system of repayment prescribed by regulation, to fulfil its repayment obligations to the holders of each security issued by the Authority.Separate accountsWhere a sinking fund is established, a separate sinking fund account shall be kept for each borrowing member participating in a security issued by the Authority.Sinking fund investmentsFunds in a sinking fund may be invested only insecurities issued or guaranteed by Canada or a province;securities of a local, municipal or region­al government in Canada;securities of the Authority or of a municipal finance authority established by a province, if the day on which they mature is not later than the day on which the security for which the sinking fund is established matures;investments guaranteed by a bank, trust company or credit union; ordeposits in a bank or trust company in Canada or non-equity or membership shares in a credit union.2005, c. 9, s. 82; 2015, c. 36, s. 198
SurplusesThe Authority may declare a surplus in a sinking fund and use the surplus, in order of priority, toreplenish any amounts paid out of the debt reserve fund; andmake a distribution to borrowing members who are participating in that fund.Recovery from sinking fundThe Authority may recover fees payable by a borrowing member from any surplus to be distributed to that member under paragraph (1)(b).
Debt reserve fundThe Authority shall establish a debt reserve fund to make payments or sinking fund contributions for which insufficient moneys are available from borrowing members.Provisioning of fundThe Authority shall withhold — and deposit in the debt reserve fund — 5% of the amount of any loan.Percentage withheld may be reduced by boardHowever, the board of directors may, by resolution, reduce the percentage to be withheld from a loan under subsection (2) to a percentage that is not less than 1%, if the board of directors is satisfied that doing so would not have a negative impact on the Authority’s credit rating.Separate accountA separate account shall be kept for each security issued and for each borrowing member contributing to the debt reserve fund.InvestmentsThe funds of the debt reserve fund may be invested only in securities, investments or deposits referred to in paragraph 82(3)(a), (c) or (d) that mature or are callable within five years, 25% of which must be callable within 90 days.Liability for shortfallThe following rules apply if payments from the debt reserve fund reduce its balance:if the balance is reduced by less than 50% of an amount determined in any manner prescribed by regulation, the Authority may, in accordance with the regulations, require borrowing members with unpaid loans to pay without delay amounts sufficient to replenish the debt reserve fund; andif the balance is reduced by 50% or more of an amount determined in any manner prescribed by regulation, the Authority shall, in accordance with the regulations, require borrowing members with unpaid loans to pay without delay amounts sufficient to replenish the debt reserve fund.RepaymentMoney contributed by a borrowing member to the debt reserve fund, and any investment income received on it, that has not already been repaid to the borrowing member by the Authority shall be repaid when all obligations in respect of the security for which the money was contributed have been satisfied.2005, c. 9, s. 84; 2015, c. 36, s. 199; 2018, c. 27, s. 4062023, c. 16, s. 40
Credit enhancement fundThe Authority shall establish a fund for the enhancement of the Authority’s credit rating.InvestmentsThe funds of the credit enhancement fund may be invested only in securities, investments or deposits referred to in paragraph 82(3)(a), (c) or (d) that mature or are callable within five years, 25% of which must be callable within 90 days.Investment incomeInvestment income from the credit enhancement fund may be usedto temporarily offset any shortfalls in the debt reserve fund;to defray the Authority’s costs of operation; andfor any other purpose prescribed by regulation.CapitalThe capital of the credit enhancement fund may be usedto temporarily offset any shortfalls in the debt reserve fund; andfor any other purpose prescribed by regulation.Repayment to credit enhancement fundAny funds that are paid from the credit enhancement fund to offset a shortfall in the debt reserve fund shall be repaid by that debt reserve fund within 18 months after the day on which the funds are paid or, if more than one payment of funds is made, within 18 months after the day on which the first payment is made. After the expiry of that 18-month period, no further funds shall be paid from the credit enhancement fund to that debt reserve fund unless it has been fully replenished under section 84.2005, c. 9, s. 85; 2015, c. 36, s. 200
Default by first nationIf a borrowing member fails to make a payment to the Authority, to fulfil any other obligation under a borrowing agreement with the Authority or to pay a charge imposed by the Authority under this Part, the Authority shallnotify the borrowing member of the failure; andsend a notice of the failure to the First Nations Financial Management Board and the First Nations Tax Commission, together with evidence of the failure and a copy of any relevant documents and records.Requirement for reportIf a failure referred to in subsection (1) relates to an obligation other than payment, the Authority may require that the First Nations Financial Management Board review and report on the reasons for the failure.ReportOn receipt of a notice referred to in paragraph (1)(b) in respect of a failure related to an obligation other than payment, the First Nations Financial Management Board shall advise the Authority in writing of its opinion on the reasons for the failure and recommend any intervention under section 52 or 53, in the case of an obligation relating to a loan secured by local revenues, or under section 52.1 or 53.1, in the case of an obligation relating to a loan secured by other revenues, that it considers appropriate. The Board must provide a copy of the report including its opinion and any recommendations to the First Nations Tax Commission.Required interventionThe Authority may, by notice in writing, require the First Nations Financial Management Board to either — at the Board’s discretion — impose a co-management arrangement on a borrowing member in respect of its local revenues or assume third-party management of its local revenuesif, with respect to a loan secured by local revenues, the borrowing member fails to make a payment to the Authority under a borrowing agreement with the Authority, or to pay a charge imposed by the Authority under this Part; orif, with respect to a loan secured by local revenues, the Authority receives a report of the Board under subsection (3) in respect of the borrowing member.Required interventionThe Authority may, by notice in writing, require the First Nations Financial Management Board to either — at the Board’s discretion — impose a co-management arrangement on a borrowing member in respect of its other revenues or assume third-party management of its other revenuesif, with respect to a loan secured by other revenues, the borrowing member fails to make a payment to the Authority under a borrowing agreement with the Authority, or to pay a charge imposed by the Authority under this Part; orif, with respect to a loan secured by other revenues, the Authority receives a report of the Board under subsection (3) in respect of the borrowing member.Copy to CommissionThe Authority must provide a copy of the notices referred to in subsections (4) and (5) to the First Nations Tax Commission.2005, c. 9, s. 86; 2018, c. 27, s. 414(E)2023, c. 16, s. 41
Short-term pooled investment fundsThe Authority may establish short-term pooled investment funds.InvestmentsFunds in a short-term pooled investment fund may be invested only insecurities issued or guaranteed by Canada, a province or the United States;fixed-term deposits, notes, certificates or other short-term paper of, or guaranteed by, a bank, trust company or credit union, including swaps in United States currency;securities issued by the Authority or by a local, municipal or regional government in Canada;commercial paper issued by a Canadian company that is rated in the highest category by at least two recognized security-rating institutions;any class of investments permitted under an Act of a province relating to trustees; orany other investments or class of investments prescribed by regulation.
General
Annual reportThe Chairperson shall, within four months after the end of each fiscal year, submit to the Authority’s members and the Minister a report of the operations of the Authority for that fiscal year.ContentsThe annual report shall include the financial statements of the Authority and its auditor’s opinion on them.
Assignment — revenues payable by Her MajestyDespite section 67 of the Financial Administration Act and anything else in federal or provincial law, a borrowing member may, for the purposes of paragraph 74(b), assign the rights to any of the other revenues referred to in that paragraph that are payable to the borrowing member by Her Majesty in right of Canada.Assignment not bindingAn assignment referred to in subsection (1) is not binding on Her Majesty in right of Canada and, without limiting the generality of the foregoing,a minister of, or other person acting on behalf of, Her Majesty in right of Canada is not required to pay to the assignee the assigned revenues;the assignment does not create any liability of Her Majesty in right of Canada to the assignee; andthe rights of the assignee are subject to all rights of set-off or compensation in favour of Her Majesty in right of Canada.2021, c. 23, s. 192
Regulations
RegulationsThe Governor in Council may, on the recommendation of the Minister after consultation by the Minister with the Authority, make regulationsprescribing anything that is to be prescribed under subsection 82(1) and paragraphs 84(5)(a) and (b), 85(3)(c) and (4)(b) and 87(2)(f); and[Repealed, 2023, c. 16, s. 42]respecting the imposition of charges under subsection 84(5), including the manner of calculating those charges and the share of those charges to be paid by each borrowing member.[Repealed, 2018, c. 27, s. 407]2005, c. 9, s. 89; 2015, c. 36, s. 201; 2018, c. 27, s. 4072023, c. 16, s. 42
Payment of Moneys
Council resolutionThe council of a First Nation may submit to the Minister a resolution of the council requesting the payment to the First Nation ofmoneys held by Her Majesty for the use and benefit of the First Nation; andmoneys to be collected or received in future by Her Majesty for the use and benefit of the First Nation.Information to accompany resolutionThe resolution shall be accompanied by proof thatthe council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a) and the law has been approved by the First Nations Financial Management Board;the council has obtained independent legal advice and independent financial advice with respect to the risks of the payment of the moneys to the First Nation; andthe payment of the moneys to the First Nation has been approved under section 91.2005, c. 9, s. 90; 2012, c. 19, s. 660; 2018, c. 27, s. 408
Approval by membersIf the council of a First Nation intends to request the payment of moneys under subsection 90(1), the council shall conduct a vote among the First Nation’s eligible voters on the approval of the payment of the moneys.Eligible votersEvery First Nation member, whether resident on a reserve of the First Nation or not, is an eligible voter if the member is at least 18 years old on the date of the vote.Independent legal and financial adviceBefore conducting the vote under subsection (1), the council shall obtain independent legal advice and independent financial advice with respect to the risks of the payment of the moneys to the First Nation.Information to be providedBefore conducting the vote under subsection (1), the council shall also take reasonable measures that are in accordance with the First Nation’s practices to inform eligible voters oftheir right to vote and the means of exercising that right;the fact that council has obtained the legal and financial advice referred to in subsection (3);the implications of the payment of the moneys and the reasons why the payment is for the benefit of the First Nation; andthe fact that the council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a).Majority approvalThe payment of the moneys to the First Nation is approved if a majority of eligible voters who participated voted to approve the payment.Minimum participationDespite subsection (5), the payment is not approved unless at least 25% of all eligible voters participated in the vote.Increased percentageThe council may, by resolution adopted before the vote, increase the percentage of eligible voters required under subsection (6).2005, c. 9, s. 91; 2012, c. 19, s. 660; 2018, c. 27, s. 408
Initial payment of moneysAfter the resolution is submitted to the Minister by the council of the First Nation under subsection 90(1), the moneys held by Her Majesty for the First Nation’s use and benefit shall be paid to the First Nation out of the Consolidated Revenue Fund, if the Minister is satisfied thatthe council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a) and the law has been approved by the First Nations Financial Management Board;the council has obtained independent legal advice and independent financial advice with respect to the risks of the payment of the moneys to the First Nation; andthe payment of the moneys to the First Nation has been approved under section 91.Subsequent paymentFollowing a payment of moneys under subsection (1), all moneys subsequently collected or received by Her Majesty for the use and benefit of the First Nation shall be paid out of the Consolidated Revenue Fund to the First Nation.Subsection (2) ceases to applySubsection (2) shall cease to apply if the law referred to in paragraph (1)(a) is repealed, and at the time of its repeal, it is not concurrently replaced by a law respecting the financial administration of the First Nation made under paragraph 9(1)(a) that has been approved by the First Nations Financial Management Board.2005, c. 9, s. 92; 2012, c. 19, s. 660; 2018, c. 27, s. 408
Liability for future managementFollowing the payment of moneys under section 92, Her Majesty is not liable for the management of those moneys.2005, c. 9, s. 93; 2012, c. 19, s. 660; 2018, c. 27, s. 408
Past liabilityThis Act does not affect the liability of Her Majesty or a First Nation for any act or omission in respect of moneys occurring before a payment referred to in section 93.2005, c. 9, s. 94; 2010, c. 12, s. 1735; 2012, c. 19, s. 660; 2018, c. 27, s. 408
Indian ActSections 61 to 69 of the Indian Act do not apply in respect of moneys paid to a First Nation under section 92 of this Act.2005, c. 9, s. 95; 2012, c. 19, s. 660; 2018, c. 27, s. 408
First Nations Powers Respecting Services
Definition of serviceIn this Part, service means a service provided on reserve lands by or on behalf of a First Nation, including in relation to the provision of water, wastewater management, drainage, waste management, animal control, recreation, transportation, telecommunications and energy.2005, c. 9, s. 962010, c. 12, s. 17362012, c. 19, s. 6602023, c. 16, s. 43
Laws respecting the provision of servicesThe council of a First Nation may make laws respecting the provision of services and respecting infrastructure located on the First Nation’s reserve lands that is used in the provision of those services, including lawsregulating or prohibiting the provision of services;imposing requirements and prohibitions with respect to infrastructure; andrespecting, subject to any conditions and procedures prescribed by regulation, the enforcement of laws made under this subsection, including by providing for measures torequire any person or entity to refrain from doing anything that constitutes or is directed toward the contravention of those laws,require any person or entity to do anything that may prevent or remedy the contravention of those laws,recover costs incurred by the First Nation in enforcing those laws and impose and recover interest and penalties with respect to those costs,create liens or, in Quebec, prior claims or legal hypothecs on reserve lands and on interests or rights in reserve lands, anddiscontinue services.For greater certaintyFor greater certainty, laws made under subsection (1) apply only on the reserve lands of the First Nation that made the laws.Non-compliance with measureIf a person or entity is not complying with a measure referred to in subparagraph (1)(c)(i) or (ii), the First Nation may take appropriate corrective measures at the expense of the person or entity.Application to competent courtThe First Nation may apply to a court of competent jurisdiction for an order directing a person or entity named in the application to comply with a law made under subsection (1), such as byrefraining from doing anything that, in the opinion of the court, constitutes or is directed toward the contravention of that law; ordoing anything that, in the opinion of the court, may prevent the contravention of that law.Enforcement — Framework Agreement on First Nation Land Management ActIf a First Nation has adopted a land code as defined in subsection 2(2) of the Framework Agreement on First Nation Land Management Act or the council of a First Nation has enacted a First Nation law as defined in subsection 2(1) of that Act, the First Nation may use any enforcement measure — other than a measure for the investigation or prosecution of an offence punishable on summary conviction referred to in paragraph 19.1(a) of the Framework Agreement, as defined in subsection 2(1) of that Act — that is provided for in that land code or First Nation law to enforce a law made under subsection (1).RegulationsThe Governor in Council may, on the recommendation of the Minister made having regard to any representations by the First Nations Infrastructure Institute, make regulations prescribing anything that is to be prescribed under paragraph (1)(c).PublicationThe First Nation shall publish all laws made under subsection (1) in the First Nations Gazette and provide a copy of a law made under that subsection on request.2005, c. 9, s. 972012, c. 19, s. 6602023, c. 16, s. 43
Coming into forceA law made under subsection 97(1) comes into force on the later ofthe day of coming into force set out in the law, andthe day on which it is published in the First Nations Gazette.2005, c. 9, s. 982012, c.19, s. 6602023, c. 16, s. 43
Judicial noticeIn any proceedings, judicial notice may be taken of a law made under subsection 97(1).2005, c. 9, s. 992012, c. 19, s. 6602023, c. 16, s. 43
Statutory Instruments ActThe Statutory Instruments Act does not apply in respect of a law made under subsection 97(1).2005, c. 9, s. 1002012, c. 19, s. 6602023, c. 16, s. 43
First Nations Infrastructure InstituteDefinition
Definition of InstituteIn this Part, Institute means the First Nations Infrastructure Institute.2005, c. 9, s. 1012012, c. 19, s. 6602023, c. 16, s. 43
Establishment and Organization of Institute
EstablishmentThere is established an institute, to be known as the First Nations Infrastructure Institute, to be managed by a board of directors consisting of ten directors, including a Chairperson and Vice-Chairperson.Capacity, rights, powers and privilegesThe Institute has the capacity, rights, powers and privileges of a natural person, including the capacity toenter into contracts;acquire, hold and dispose of property or an interest or right in property, or lease property;raise, invest or borrow money; andsue and be sued.2005, c. 9, s. 1022012, c. 19, s. 6602023, c. 16, s. 43
Not agent of His MajestyThe Institute is not an agent of His Majesty in right of Canada.2005, c. 9, s. 1032012, c. 19, s. 6602023, c. 16, s. 43
Appointment of first directorsOn the recommendation of the Minister, the Governor in Council shall appoint the first ten directors of the board of directors, including a Chairperson, who are to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.2005, c. 9, s. 1042012, c. 19, s. 6602023, c. 16, s. 43
Appointment of subsequent directors — Governor in CouncilOn the recommendation of the Minister, the Governor in Council shall appoint three directors, including a Chairperson, to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.Committee to advise MinisterThe Minister may establish a committee to advise the Minister on the appointment of directors, other than the Chairperson, under subsection (1). This committee is to include representation from the board of directors.Appointment of subsequent directors — prescribed bodiesOne or more bodies prescribed by regulation shall, in accordance with any rules and procedures established by the board of directors and subject to subparagraph 113(b)(ii), appoint seven additional directors to hold office during good behaviour for a term not exceeding five years, subject to removal by the board under section 108.2005, c. 9, s. 1052012, c. 19, s. 6602023, c. 16, s. 43
QualificationsThe board of directors shall be composed of individuals from across Canada, including members of First Nations, who are committed to improving infrastructure outcomes for First Nations and entities referred to in subsection 50.1(1) and who have the experience or capacity to enable the Institute to fulfil its mandate.2005, c. 9, s. 1062012, c. 19, s. 6602023, c. 16, s. 43
Election of Vice-ChairpersonThe board of directors shall elect a Vice-Chairperson from among the directors.2005, c. 9, s. 1072012, c. 19, s. 6602023, c. 16, s. 43
Removal of directorsThe board of directors may remove a director appointed under subsection 105(3) for cause at any time in accordance with the rules and procedures established under subparagraph 113(b)(i).2005, c. 9, s. 1082012, c. 19, s. 6602023, c. 16, s. 43
ReappointmentDirectors may be reappointed for a second or subsequent term of office.Continuation in officeDespite subsections 105(1) and (3), an appointed director continues to hold office until they are reappointed or their successor is appointed.2005, c. 9, s. 1092012, c. 19, s. 6602023, c. 16, s. 43
StatusThe Chairperson shall hold office on a full-time basis and the other directors shall hold office on a part-time basis.2005, c. 9, s. 1102012, c. 19, s. 6602023, c. 16, s. 43
RemunerationDirectors shall be paid the remuneration determined by the Governor in Council.ExpensesThe Chairperson shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from their ordinary place of work. Other directors shall be reimbursed for such expenses incurred in performing duties while absent from their ordinary place of residence.2005, c. 9, s. 1112012, c. 19, s. 6602023, c. 16, s. 43
Chairperson — functionsThe Chairperson is the chief executive officer of the Institute and has supervision over, and direction of, the work and staff of the Institute.Interim ChairpersonIn the event of the absence or incapacity of the Chairperson, the Vice-Chairperson shall assume the duties and functions of the Chairperson.2005, c. 9, s. 1122012, c. 19, s. 6602023, c. 16, s. 43
Powers of the boardThe board of directors maymake any rules and procedures that it considers necessary for the conduct of its meetings; andin respect of a director referred to in subsection 105(3),make any rules and procedures that it considers necessary for their appointment or removal,determine additional qualifications necessary for their particular appointment, andestablish the length of their term, which shall not exceed five years.2005, c. 9, s. 1132012, c. 19, s. 6602023, c. 16, s. 43
Head officeThe head office of the Institute shall be on reserve lands at a location determined by the board of directors.2023, c. 16, s. 43
StaffThe board of directors mayhire any staff that is necessary to conduct the work of the Institute; anddetermine the duties of those persons and the conditions of their employment.Salaries and benefitsPersons hired under subsection (1) shall be paid the salary and benefits fixed by the board of directors.2023, c. 16, s. 43
Purposes
MandateThe purposes of the Institute are toassist First Nations and entities referred to in subsection 50.1(1) in planning, developing, procuring, owning, managing, operating and maintaining infrastructure, including by providing review, analysis, assessment, certification and monitoring services;assist First Nations in the exercise of their jurisdiction over the provision of services, as defined in section 96, and over infrastructure;provide services or support the provision of services respecting asset management;develop and deliver, and provide support for the development and delivery of, training and education services — and conduct research — respecting infrastructure and social, cultural, environmental, economic and fiscal sustainability;support capacity development for infrastructure planning, development, procurement, management, operation, maintenance, funding and financing by First Nations and entities referred to in subsection 50.1(1);advance options to assist First Nations and entities referred to in subsection 50.1(1) in developing and implementing approaches to support the stable, effective and long-term funding and financing of infrastructure;collaborate with First Nations, Indigenous institutions and organizations and all levels of government to support the development of legal and administrative frameworks to improve the planning, development, procurement, management, operation and maintenance of infrastructure;provide policy research services, review and evaluative services and advice to support First Nations and entities referred to in subsection 50.1(1) in developing fiscal frameworks and revenue streams to support the development, management, operation and maintenance of infrastructure;conduct research and provide advice and information to the Government of Canada, including the Minister, on the development and implementation of frameworks to support the development of infrastructure that is socially, culturally, environmentally, economically and fiscally sustainable; andcollect data, publish statistical information and conduct research and analysis on matters related to the purposes set out in the other paragraphs of this section.2023, c. 16, s. 43
Functions and Powers
PowersIn furtherance of its purposes, the Institute may enter into partnerships, agreements and other arrangements with local, regional, national and international organizations to provide services to First Nations and entities referred to in subsection 50.1(1).Provision of servicesOn the request of a First Nation or an entity referred to in subsection 50.1(1), the Institute may provide services relating to its purposes to that First Nation or entity, includingassistance in planning, developing, procuring, owning, operating and maintaining infrastructure;project management support with respect to infrastructure;the review of funding and financing options for infrastructure projects; andsupport in asset management.2023, c. 16, s. 43
Review of infrastructure projectOn the request of a First Nation or an entity referred to in subsection 50.1(1), the Institute may review an infrastructure project, or any aspect of an infrastructure project, involving that First Nation or entity for compliance with the standards established under subsection 113.8(1).ReportOn completion of the review, the Institute shall provide to the First Nation or entity a report setting outthe scope of the review undertaken; andan opinion as to whether the infrastructure project, or aspect of the infrastructure project, was in compliance with the standards or as to which aspects of the standards were not complied with.Issuance of certificateIf after completing the review the Institute is of the opinion that the infrastructure project, or the reviewed aspect, was in compliance, in all material respects, with the standards, it shall issue to the First Nation or entity a certificate to that effect.Revocation of certificateThe Institute may, on giving notice to the First Nation or entity, revoke the First Nation’s or the entity’s certificate if, on the basis of information available to the Institute, it is of the opinion that the certificate was issued on the basis of incomplete or incorrect information.Form and contentThe Institute may determine the form and content of certificates issued under subsection (3), including any restrictions as to the purposes for which, and the persons by whom, they are intended to be used.Opinion finalAn opinion of the Institute referred to in this section is final and conclusive and is not subject to appeal.2023, c. 16, s. 43
Review for continued complianceOn the request of a First Nation or an entity referred to in subsection 50.1(1), or under the terms of an agreement between any level of government and the First Nation or entity, the Institute may review an infrastructure project, or any aspect of an infrastructure project, for which it has issued a certificate under subsection 113.5(3) for continued compliance with the standards established under subsection 113.8(1).ReportOn completion of the review, the Institute shall provide to the First Nation or entity a report setting out the scope of its review and its findings and any recommendations.Report finalThe content of the report is final and conclusive and is not subject to appeal.2023, c. 16, s. 43
Review of First Nation lawsOn the request of a First Nation, the Institute may review any law made by the council under subsection 97(1) for compliance with the standards established under subsection 113.8(1).Notification of complianceIf after completing the review the Institute is of the opinion that the law is in compliance, in all material respects, with the standards, it shall notify the First Nation of its opinion in writing.2023, c. 16, s. 43
Standards and Procedures
StandardsThe Institute may establish standards, not inconsistent with the regulations, respectingthe form and content of laws made under subsection 97(1);the planning, developing, procuring, owning, managing, operating and maintaining infrastructure;asset management; andthe certification and review of infrastructure projects.ProceduresThe Institute may establish procedures respectingreviews of laws made under subsection 97(1) and requests for such reviews;the provision of services under subsection 113.4(2) and requests for such services;reviews of infrastructure projects, requests for such reviews, and the issuance of certificates under section 113.5; andreviews for continued compliance under section 113.6 and requests for such reviews.Statutory Instruments ActThe Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2).First Nations GazetteThe Institute shall publish all standards established under subsection (1) and procedures established under subsection (2) in the First Nations Gazette.2023, c. 16, s. 43
Data Collection, Analysis and Publication
Functions and powersThe Institute may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes.No identifying informationThe Institute shall ensure that no First Nation, entity, including an entity referred to in subsection 50.1(1), or individual can reasonably be identified, whether directly or indirectly, by any means, from any information that the Institute makes publicly available under subsection (1).ExceptionThe Institute is not required to comply with subsection (2) if the information is already in the public domain or the First Nation, entity or individual to whom it relates consents to being identified.2023, c. 16, s. 43
Information sharing agreementsThe Institute may enter into agreements with a First Nation, entity, including an entity referred to in subsection 50.1(1), or individual or any level of government concerning the sharing of information for research, analysis and publication purposes.2023, c. 16, s. 43
Regulations
RegulationsThe Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Institute, make regulations prescribing fees that the Institute may charge for services and the manner in which the fees may be recovered.2023, c. 16, s. 43
Financial Management and Control
DefinitionsThe following definitions apply in this Part.board of directors includesin respect of the First Nations Tax Commission, the commissioners referred to in section 17;in respect of the First Nations Financial Management Board, the directors referred to in section 38; andin respect of the First Nations Infrastructure Institute, the directors referred to in subsection 102(1). (conseil d’administration)institution means the First Nations Tax Commission, the First Nations Financial Management Board or the First Nations Infrastructure Institute. (institution)2005, c. 9, s. 1142023, c. 16, s. 44
Exclusion from federal public administrationThe officers and employees of an institution are not part of the federal public administration.No guaranteesNo person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of an institution.2005, c. 9, ss. 115, 154(E)
Financial yearThe financial year of each institution is the period from April 1 to March 31, unless otherwise prescribed by regulation.
Expenditure of revenuesSubject to any terms and conditions that the Treasury Board may direct, for the purposes of the institution, an institution may expend, during a financial year or the following year, any revenues that it receives in that financial year through the conduct of its operations.
Corporate plansEach institution shall, in accordance with any directions given by the Minister, establish a five-year corporate plan and a budget for each financial year and submit them to the Minister for approval.Scope and contents of corporate planThe corporate plan of each institution shall encompass all of the businesses and activities of the institution and include a statement ofthe objects or purposes of the institution;the institution’s objectives for the five-year period to which the plan relates and the strategy it intends to employ to achieve those objectives; andthe institution’s expected performance for that five-year period as compared to its objectives set out in the last corporate plan.Contents of budgetThe budget of each institution must include a statement of the institution’s projected revenues and expenses for the financial year on account of capital and operations.Form of corporate planThe corporate plan of each institution shall be prepared in a form that clearly sets out information according to the major businesses or activities of the institution.Restriction on business or activityNo institution may carry on any business or activity in any financial year in a manner that is not consistent with its corporate plan for that year.AmendmentAny amendment by an institution to its corporate plan or budget shall be submitted to the Minister for approval.2005, c. 9, s. 1182023, c. 16, s. 45
Books and systemsEach institution shallkeep books of account and records in relation to them; andmaintain financial and management control and information systems.Books and systemsThe books, records and systems referred to in subsection (1) shall be kept and maintained in such a manner as will provide reasonable assurance thatthe institution’s assets are safeguarded and controlled;its transactions are in accordance with this Act;its financial, human and physical resources are managed economically and efficiently; andits operations are carried out effectively.Internal auditAn institution may cause internal audits to be conducted to assess compliance with subsections (1) and (2).Financial statementsEach institution shall annually prepare financial statements, in accordance with generally accepted accounting principles, as supplemented by any directions given by the Minister under subsection (6).Form of financial statementsThe financial statements of an institution shall be prepared in a form that clearly sets out information according to the major businesses or activities of the institution.DirectionsThe Minister may give directions respecting the preparation of financial statements, to supplement generally accepted accounting principles.
Annual auditor’s reportEach institution shall cause an annual auditor’s report to be prepared in accordance with any directions of the Minister, onits financial statements; andany quantitative information required to be audited under subsection (3).ContentsA report under subsection (1) shallinclude separate statements as to whether in the auditor’s opinionthe financial statements are presented fairly, in accordance with generally accepted accounting principles, applied on a basis consistent with that of the preceding year,the quantitative information is accurate in all material respects and, if applicable, was prepared on a basis consistent with that of the preceding year, andthe transactions of the institution that have come to the auditor’s notice in the course of their examination for the report were carried out in accordance with this Act; andcall attention to any other matter falling within the scope of the auditor’s examination for the report that, in their opinion, should be brought to the attention of the institution or the Minister.Audit of quantitative informationThe Minister may require that any quantitative information required to be included in an institution’s annual report pursuant to paragraph (2)(a) be audited.Presentation to MinisterEach institution shall submit its audited financial statements to the Minister at least 30 days before the day of its annual meeting.2005, c. 9, s. 1202023, c. 16, s. 46(E)
Special examinationEach institution shall, at least once every five years and at any other time required by its board of directors or by the Minister, cause a special examination to be carried out in respect of its operations to determine if the books, records, systems and practices referred to in section 119 were, in the period under examination, maintained in a manner that met the requirements of that section.PlanBefore commencing a special examination, an examiner shall survey the systems and practices of the institution to be examined and submit a plan for the examination, including a statement of the criteria to be applied in the examination, to the audit committee of the institution.Resolution of disagreementsAny disagreement between the examiner and the audit committee or board of directors of an institution with respect to a plan referred to in subsection (2) shall be resolved by the Minister.Reliance on internal auditAn examiner shall, as far as is practica­ble, rely on any internal audit conducted pursuant to subsection 119(3) in respect of the institution being examined.
ReportAn examiner shall, on completion of a special examination in respect of an institution, submit a report on their findings, and a summary of that report, to the Minister and to the board of directors of the institution.ContentsThe report of an examiner shall includea statement whether in the examiner’s opinion, having regard to the criteria referred to in subsection 119(2), there is a reasonable assurance that there are no significant deficiencies in the systems and practices examined; anda statement of the extent to which the examiner relied on internal audits.Posting of reportAn institution shall, as soon as possible after receipt of an examiner’s report, post a summary of the report on an Internet website maintained by the institution.2005, c. 9, s. 1222023, c. 16, s. 47(E)
ExaminerSubject to subsection (2), a special examination shall be carried out by the auditor of the institution.Other auditorIf, in the opinion of the Minister, a person other than the auditor of an institution should carry out a special examination in respect of the institution, the Minister may, after consulting with the board of directors of the institution, direct that the examination be carried out by another auditor who is qualified for the purpose.
Consultation with Auditor GeneralThe auditor or examiner of an institution may at any time consult the Auditor General of Canada on any matter relating to an audit or special examination.
Right to informationAt the request of the auditor or examiner of an institution, the present or former commissioners, directors, officers, employees or agents or mandataries of the institution shall provide any information and explanations, and give access to any records, documents, books, accounts and vouchers of the institution that are under their control, that the auditor or examiner considers necessary to prepare a report required under this Act.Obligation to informIf a commissioner or director of an institution does not have information or an explanation requested by an auditor or examiner under subsection (1), the commissioner or director shall obtain the information or explanation and provide it to the auditor or examiner.2005, c. 9, s. 125; 2018, c. 27, s. 409(E)
RestrictionNothing in this Part or in any directions of the Minister shall be construed as authorizing the auditor or examiner of an institution to express any opinion on the merits of matters of policy, including the merits ofthe objects or purposes for which the institution was established or the restrictions on the businesses or activities that it may carry on, as set out in this Act; orany business or policy decision of the institution.
Qualified privilegeAn oral or written statement or report made under this Part by an auditor or examiner has qualified privilege.
Audit committeeEach institution shall establish an audit committee composed of not less than three commissioners or directors who are not officers of the institution and who are competent to perform the duties set out in subsection (2).DutiesAn audit committee shallreview, and advise the board of directors in respect of, the financial statements that are to be included in the annual report of the institution;oversee any internal audit of the institution;review, and advise the board of directors in respect of, the annual auditor’s report in respect of the institution;review, and advise the board of directors in respect of, any plan and report of a special examiner; andperform any other functions that are assigned to it by the board of directors of the institution.Auditor’s or examiner’s attendanceAn auditor and any examiner of an institution are entitled to receive notice of every meeting of the audit committee and, at the expense of the institution, to attend and be heard at each meeting.Required attendanceThe auditor or examiner of an institution shall attend any meeting of the institution’s audit committee at which he or she is requested to attend by a member of that committee.Calling meetingThe auditor or examiner of an institution or a member of the institution’s audit committee may call a meeting of that committee.
Disclosure of material developmentsThe chief executive officer of an institution shall, as soon as reasonably practica­ble, notify the Minister and any commissioner or director of the institution not already aware of them of any financial or other developments that, in the chief executive officer’s opinion, are likely to have a material effect on the perform­ance of the institution, relative to its objectives or requirements for funding.
Annual reportEach institution shall, within four months after the end of each financial year, submit to the Minister an annual report on the operations of the institution in that year.Form and contentsThe annual report of an institution shall be prepared in a form that clearly sets out information according to the major businesses or activities of the institution and shall includethe financial statements of the institution;the annual auditor’s report;a statement on the extent to which the institution has met its objectives for the financial year;any quantitative information respecting the performance of the institution that the Minister may require to be included; andany other information that is required under this Act or any other Act of Parliament.
Annual meetingThe board of directors of an institution shall call an annual meeting not later than 18 months after the institution is established and subsequently not later than 15 months after the preceding annual meeting.Manner in which meeting heldThe board of directors shall determine the manner in which the annual meeting shall be held, which may be entirely by means of electronic communication or in a way that allows participation by such means.Notice of meetingAn institution shall, at least 30 days before the annual meeting, publish a notice on an Internet website to be maintained by the institutionsetting out the time and location, if any, of the meeting;indicating the means of participating in the meeting, such as by providing instructions on how to participate electronically; andspecifying that the institution’s annual report may be accessed on that website.Availability to publicAt the annual meeting, the board of directors shall ensure thatthe institution’s most recent annual report is made available to those participating in the meeting; andthe chief executive officer and the commissioners or directors of the institution who are attending the meeting are available to those participating in the meeting to answer any questions about the institution’s operations.2005, c. 9, s. 1312023, c. 16, s. 48
Provisions of General ApplicationGeneral
Conflict of interestNo person who is appointed to, or employed by, the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority or First Nations Infrastructure Institute shall be appointed to, or employed by, any other one of those bodies.Conflict of interestNo person referred to in subsection (1) shall accept or hold any office or employment that is inconsistent with their duties or take part in any matter involving a body referred to in subsection (1) in which they have an interest.Conflict of interestAll persons appointed to the First Nations Tax Commission, First Nations Financial Management Board or First Nations Infrastructure Institute shall comply with the Conflict of Interest Act as though they were public office holders as defined in that Act.2005, c. 9, s. 132; 2006, c. 9, s. 8; 2012, c. 19, s. 6612023, c. 16, s. 49
Liability of His MajestyNo person has a right to receive any compensation, damages, indemnity or other relief from His Majesty in right of Canada in respect of any claim against the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority or First Nations Infrastructure Institute arising from its exercise of, or its failure to exercise, any of its powers or functions, including any claim against the First Nations Tax Commission as an agent of His Majesty in right of Canada.Insurance requiredThe First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Infrastructure Institute shall maintain in good standing at all times the insurance coverage required by any regulations made under paragraph 140(b).2005, c. 9, s. 133; 2012, c. 19, s. 6622023, c. 16, s. 49
No appropriationNo payment to the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority or First Nations Infrastructure Institute may be made under an appropriation by Parliament authorized under an Act of Parliament to enable the Commission, Board, Authority or Institute to satisfy any claim referred to in subsection 133(1).2005, c. 9, s. 134; 2012, c. 19, s. 6622023, c. 16, s. 49
No compensationNo person has a right to receive any compensation, damages, indemnity or other relief from Her Majesty in right of Canada, or from the First Nations Tax Commission, for any acquired, vested or future right, or for any prospect of such a right, that is affected by a law approved by the First Nations Tax Commission under subsection 31(3), or for any duty or liability imposed on that person as a result of such a law.
Limit of liability — commissioner, director, employee, etc.No civil proceedings lie against any of the following persons for anything done or omitted to be done in the exercise or performance, or purported exercise or performance, in good faith of any power or duty under this Act or regulations made under this Act:a commissioner or employee of the First Nations Tax Commission or a person acting on its behalf;a director or employee of the First Nations Financial Management Board or a person acting on its behalf; anda director or employee of the First Nations Infrastructure Institute or a person acting on its behalf.2005, c. 9, s. 136; 2012, c. 19, s. 663; 2018, c. 27, s. 4102023, c. 16, s. 50
Limit of liability — co-management or third-party managementDespite anything in federal or provincial law, if, under this Act, the First Nations Financial Management Board has required a First Nation to enter into a co-management arrangement or has assumed third-party management of a First Nation’s local revenues or other revenues, neither the Board nor any director or employee of the Board or person acting on behalf of the Board is by reason of that fact liable for any liability of the First Nation.2018, c. 27, s. 4102023, c. 16, s. 51
Personal liability for costsNo director or employee of the First Nations Financial Management Board or person acting on behalf of the Board is personally liable for costsawarded in any civil proceedings brought against any of them in relation to anything done, or omitted to be done, in the exercise or purported exercise of any power, or in the performance or purported performance of any duty, of that person or the Board in accordance with this Act or the regulations made under this Act, unless a court otherwise directs; orawarded against the Board in any civil proceedings.2018, c. 27, s. 410
Limit of liabilityNo civil proceedings lie against a member of a council or an employee of a First Nation for anything done, or omitted to be done, during the course of the exercise or purported exercise in good faith of any power, or the performance or purported performance in good faith of any duty, of that member or employee in accordance with this Act, regulations made under this Act or a law made by the council of a First Nation under this Act.2005, c. 9, s. 137; 2018, c. 27, s. 414(E)
Conflict with other lawsIn the event of a conflict between a local revenue law, a law made under subsection 8.1(1) or a law made under subsection 97(1) and an Act of Parliament or any regulations made under an Act of Parliament or a code made by a First Nation under another Act of Parliament, the Act, regulations or code prevails to the extent of the conflict.Conflict with other First Nation lawsIn the event of a conflict between a law made by a First Nation under this Act and a law, other than a code, made by the First Nation under another Act of Parliament, the law made by the First Nation under this Act prevails to the extent of the conflict.2005, c. 9, s. 138; 2018, c. 27, s. 414(E)2023, c. 16, s. 52
Official languagesFor greater certainty, the provisions of the Official Languages Act applicable to federal institutions apply to the First Nations Tax Commission.Official languagesIf there is a demand for services in a particular official language, the First Nations Financial Management Board, First Nations Finance Authority and First Nations Infrastructure Institute shall offer services in that language.2005, c. 9, s. 139; 2012, c. 19, s. 6642023, c. 16, s. 53
Regulations
RegulationsThe Governor in Council may make regulationsprescribing anything that is to be prescribed under subsection 20(3), 41(2) or 105(3) or section 116; andrespecting the insurance coverage required to be maintained by the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Infrastructure Institute in respect of liabilities referred to in subsection 133(1), including the circumstances in which the Commission, Board, Authority or Institute would be exempt from that requirement.2005, c. 9, s. 140; 2012, c. 19, s. 665; 2015, c. 36, s. 2022023, c. 16, s. 54
RegulationsFor the purpose of enabling an Indigenous group that is a party to a treaty, land claims agreement or self-government agreement with Canada to benefit from the provisions of this Act or obtain the services of any body established under this Act, the Governor in Council may make any regulations that the Governor in Council considers necessary, including regulationsadapting any provision of this Act or of any regulation made under this Act; andrestricting the application of any provision of this Act or of any regulation made under this Act.Amendments to schedule in regulationsThe Minister may, by order, at the request of the governing body of an Indigenous group referred to in subsection (1), amend any schedule included in regulations made under that subsection and listing the Indigenous groups that are subject to those regulations in order toadd or change the name of the Indigenous group; ordelete the name of the Indigenous group, as long as there are no amounts owing by the Indigenous group to the First Nations Finance Authority that remain unpaid.2005, c. 9, s. 141; 2018, c. 27, ss. 411, 413(E)2023, c. 16, s. 55
Regulations — organizations referred to in paragraph 50.1(1)(e)For the purpose of enabling an organization referred to in paragraph 50.1(1)(e) to benefit from the provisions of this Act, other than Parts 1, 2 and 5, or obtain the services of the First Nations Financial Management Board or the First Nations Finance Authority, the Governor in Council may make any regulations that the Governor in Council considers necessary, including regulationsadapting any provision of this Act or of any regulation made under this Act; andrestricting the application of any provision of this Act or of any regulation made under this Act.Amendments to schedule in regulationsThe Minister may, by order, at the request of an organization referred to in paragraph 50.1(1)(e), amend any schedule included in regulations made under subsection (1) and listing the organizations that are subject to those regulations in order toadd or change the name of the organization; ordelete the name of the organization, as long as there are no amounts owing by the organization to the First Nations Finance Authority that remain unpaid.2018, c. 27, s. 4122023, c. 16, s. 56
Regulations — joint reserve landsFor the purpose of enabling a First Nation to benefit from the provisions of this Act, or obtain the services of any body established under this Act, in respect of reserve lands that have been set apart for the use and benefit of that First Nation and one or more other First Nations, the Governor in Council may make any regulations that the Governor in Council considers necessary, including regulationsadapting any provision of this Act or of any regulation made under this Act; andrestricting the application of any provision of this Act or of any regulation made under this Act.2018, c. 27, s. 412
[Repealed, 2023, c. 16, s. 57]
Transitional Provisions, Consequential Amendments, Coordinating Amendments and Coming into ForceTransitional Provisions
ITAB employeesPersons who are employed by the Indian Taxation Advisory Board at the time that the First Nations Tax Commission is established shall be offered employment with the Commission, at the same salary and with equivalent terms and conditions of employment.Interim rules of procedureUntil new rules are established by the First Nations Tax Commission, the Commission shall conduct itself in accordance with the rules of procedure established by the Indian Taxation Advisory Board.
Continuation of directorsPersons who are directors of the First Nations Finance Authority Inc., a corporation incorporated under the Canada Business Corporations Act, on the day on which section 58 comes into force shall continue as directors of the First Nations Finance Authority until new directors are elected.
Continuation of existing by-lawsBy-laws made by a First Nation under paragraph 83(1)(a), or any of paragraphs 83(1)(d) to (g), of the Indian Act that are in force on the day on which the name of the First Nation is added to the schedule are deemed to be laws made under section 5 or 9, as the case may be, to the extent that they are not inconsistent with section 5 or 9, and remain in force until they are repealed or replaced.Amendment of existing by-lawsFor greater certainty, subsections 5(2) to (7) apply to amendments of by-laws referred to in subsection (1).Non-application of sectionThis section does not apply if the name of the First Nation is added to the schedule on or after the day on which section 145.1 comes into force.2005, c. 9, s. 145; 2015, c. 36, s. 203; 2018, c. 27, s. 414(E)
Continuation of existing by-lawsBy-laws made by a First Nation under any of paragraphs 83(1)(a) and (b) to (g) of the Indian Act that are in force on the day on which the name of the First Nation is added to the schedule, except those described in subsection (2), are deemed to be laws made under section 5 to the extent that they are not inconsistent with section 5, and they remain in force until they are replaced by a law made by the First Nation under section 5 or are repealed.Continuation of existing by-lawsBy-laws in respect of financial administration made by a First Nation under any of paragraphs 83(1)(a) and (b) to (g) of the Indian Act that are in force on the day on which the name of the First Nation is added to the schedule remain in force until they are repealed or until the First Nation makes a law that is approved under subsection 9(2).Continuation of existing by-lawsBy-laws made by a First Nation under paragraph 83(1)(b) or (c) of the Indian Act that are in force on the day on which this section comes into force, except those described in subsection (4), are deemed to be laws made under section 5 to the extent that they are not inconsistent with section 5, and they remain in force until they are replaced by a law made by the First Nation under section 5 or are repealed.Continuation of existing by-lawsBy-laws in respect of financial administration made by a First Nation under paragraph 83(1)(b) or (c) of the Indian Act that are in force on the day on which this section comes into force remain in force until they are repealed or until the First Nation makes a law that is approved under subsection 9(2).2015, c. 36, s. 204; 2018, c. 27, s. 414(E)
Review and evaluationWithin seven years after the day on which this Act receives royal assent, the Minister, after consultation with the First Nations Tax Commission, First Nations Financial Management Board and First Nations Finance Authority, shall review the provisions and operation of this Act and the operations of those institutions, and submit a report to each House of Parliament on that review, including any changes that the Minister recommends relating to the evolution of the mandate and the operation of those institutions.2005, c. 9, s. 146; 2012, c. 19, s. 666
Consequential AmendmentsAccess to Information Act
[Amendment]
[Amendment]
Financial Administration Act
[Amendment]
Indian Act
[Amendment]
[Amendment]
Privacy Act
[Amendment]
Westbank First Nation Self-Government Act
[Amendment]
Coordinating Amendments
[Amendments]
Coming into Force
Order in councilThe provisions of this Act, other than section 154, come into force on a day or days to be fixed by order of the Governor in Council.[Note: Section 154 in force on assent March 23, 2005; Act, other than section 154, in force April 1, 2006, see SI/2006-59.]
(Subsections 2(1) and (3))AamjiwnaangAbegweitAbénakis of Wôlinak First NationAcadiaAcho Dene Koe First NationAdams Lake Indian BandAhousaht First NationAhtahkakoop Cree NationAitchelitz First Nation?Akisq’nuk First NationAlgonquins of Barriere LakeAlgonquins of Pikwakanagan First NationAnimakee Wa Zhing #37 First NationAnimbiigoo Zaagi’igan AnishinaabekAnishnaabeg of NaongashiingAnnapolis Valley First Nation?Aq’amAtikameksheng AnishnawbekAtikamekw of Opitciwan First NationAtikamekw of Wemotaci First NationAttawapiskatBatchewana First NationBeardy’s and OkemasisBear River First NationBeausoleil First NationBeaver Lake Cree NationBeecher BayBehdzi Ahda″ First NationBerens RiverBig GrassyBig Island Lake Cree NationBigstone Cree NationBiinjitiwaabik Zaaging Anishinaabek First NationBinche Whut'enBingwi Neyaashi AnishinaabekBlack River First NationBonaparte First NationBrokenhead Ojibway NationBrunswick House First NationBuctouche Mic Mac BandBuffalo Point First NationCaldwell First NationCampbell River Indian BandCanoe Lake Cree First NationCarry the KettleCat Lake First NationCayoose Creek Indian BandChapleau Cree First NationChawathil First NationCheamCheslatta Carrier NationChippewas of Georgina Island First NationChippewas of Kettle and Stony Point First NationChippewas of Rama First NationChippewas of the Thames First NationCold Lake First NationsColdwater Indian BandConseil de la Première Nation AbitibiwinniConstance LakeCook’s FerryCote First NationCowichanCross Lake Band of IndiansCumberland House Cree NationCurve Lake First NationDakota PlainsDakota TipiDoig River First NationDouglasDriftpile Cree NationEagle Lake First NationEbb and FlowEel River Bar First NationEhattesahtElsipogtog First NationEnglish River First NationEnoch Cree Nation #440Esdilagh First NationEskasoniEsk’etemcEsquimalt NationFisher RiverFlying Dust First NationFort McKay First NationFort McMurray #468 First NationFort Nelson First NationFort WilliamFox LakeFrog Lake First NationGambler First NationGarden Hill First NationGarden River First NationGeorge Gordon First NationGitanmaaxGitanyowGitga’at First NationGitsegukla First NationGitwangak First NationGitxaala NationGlen VowellGlooscap First NationGwa’sala-’Nakwaxda’xw NationsGwichya Gwich'inHagwilget Village CouncilHaisla NationHalalt First NationHalfway River First NationHeiltsukHenvey Inlet First NationHigh Bar First NationHomalco First NationHupacasath First NationIndian Island First NationInnue EssipitBande des Innus de PessamitInnu Takuaikan Uashat mak Mani-utenamInuvik Native BandIskatewizaagegan #39 Independent First NationIskutJean Marie River First NationKahkewistahaw First NationKanaka BarK’atlodeeche First NationKatzie First NationKawacatoose First NationKebaowek First NationKehewin Cree NationThe Key First NationKingfisherKingsclear First NationKinistin Saulteaux NationKispiox First NationKitigan Zibi AnishinabegKitselas First NationKitsumkalumKlahoose First NationK’ómoks First NationKwadachaKwantlen First NationKwaw-Kwaw-Apilt First NationKwikwetlem First NationLac des Mille Lacs First NationLac La Ronge Indian BandLac Seul First NationLake Babine NationLake Manitoba First NationLake St. MartinLax Kw’alaamsLennox Island First NationLeq’á:mel First NationLheidli T’ennehLhtako Dene NationLiard First NationLiidlii Kue First NationLil’wat NationListuguj Mi’gmaq GovernmentLittle Grand RapidsLittle Red River Cree NationLittle SaskatchewanLittle Shuswap Lake Indian BandLong Plain First NationLong Point First NationLoon River CreeLouis Bull TribeLower Kootenay Indian BandLower Nicola Indian BandLower SimilkameenLubicon LakeLyacksonLyttonMadawaska Maliseet First NationMakwa Sahgaiehcan First NationMalahat NationMarcel Colomb First NationMartin FallsMatsqui First NationM’Chigeeng First NationMcLeod Lake Indian BandMembertou First NationMetepenagiag Mi’kmaq NationMetlakatla First NationMiawpukek First NationLa Nation Micmac de GespegMicmacs of GesgapegiagMikisew Cree First NationMillbrook BandMisipawistik Cree NationMississaugaMississaugas of Scugog Island First NationMississaugas of the CreditMistawasis NêhiyawakMitaanjigamiing First NationMohawks of the Bay of QuinteMontagnais de Pakua ShipiMontana First NationMoosominMosquito, Grizzly Bear’s Head, Lean Man First NationsMunsee-Delaware First NationMushuau Innu First NationMuskeg Lake Cree Nation #102Muskoday First NationMuskowekwanMusqueamNadleh Whut’en BandNak’azdli Whut’enNamgis First NationNanoose First NationNaotkamegwanning First NationNation Anishnabe du Lac SimonNation Huronne WendatNatoaganegNazko First NationNee-Tahi-BuhnNeskonlith Indian BandNetmizaaggamig NishnaabegNiisaachewan Anishinaabe NationNipissing First NationNisichawayasihk Cree NationNooaitchNorthwest Angle No.33Norway House Cree NationN’QuatquaOcean Man First NationOchapowaceO’ChieseOdanakOjibway Nation of SaugeenOkanese First NationOld Massett Village CouncilOne Arrow First NationOnion Lake Cree NationOpaskwayak Cree NationOromocto First NationOsoyoos Indian BandPabineauPacheedaht First NationPaqtnkek Mi’kmaw NationPauingassi First NationPaul First NationPauquachinPeepeekisis Cree Nation No. 81PeguisPekuakamiulnuatsh First NationPelican LakePenticton Indian BandPeter Ballantyne Cree NationPeters First NationPheasant Rump NakotaPiapot First NationPictou Landing First NationPiikani NationPinaymootang First NationPine CreekPopkum First NationPoplar River First NationPotlotek First NationPoundmakerProphet River First NationQalipu Mi’kmaq First NationQualicum First NationQuatsinoRainy River First NationsRed Pheasant Cree NationRed Sucker Lake First NationRolling River First NationRoseau River Anishinabe First Nation GovernmentSagamok AnishnawbekSaik’uz First NationSaint Mary’sSalt River First Nation #195Sandy Bay Ojibway First NationSapotaweyak Cree NationSaugeenSaulteau First NationsSaulteaux First NationSeabird Island BandSemiahmoo First NationSerpent River First NationShackan First NationShawanaga First NationSheguiandah First NationSheshatshiu Innu First NationSheshegwaning First NationShoal Lake No. 40 First NationShuswap First NationShxwhá:y Village First NationShxw’ow’hamel First NationSiksika NationSimpcw First NationSipekne’katikSkatin NationsSkawahlook First NationSkeetchestn Indian BandSkidegate First NationSkin Tyee NationSkowkale First NationSkownan First NationSkwahSliammon First NationSnuneymuxw First NationSonghees NationSoowahlieSplatsinSpuzzumSq’éwletsSquamish NationSquiala First NationStanding Buffalo Dakota NationStar Blanket Cree NationStellat’en First NationStoney NationSts’ailesStswecem’c Xgat’tem First NationSt. Theresa PointSturgeon Lake First NationStz’uminus First NationSucker CreekSumas First NationSunchild First NationSwan River First NationSweetgrassTahltanTakla NationTaku River Tlingit First NationTataskweyak Cree NationTaykwa Tagamou NationTeetl’it Gwich’in Band CouncilTemagami First NationThunderchild First NationTimiskaming First NationT’it’q’etTk’emlúps te SecwépemcTla-o-qui-aht First NationsTl'azt'en NationTl’etinqox GovernmentTobique First NationTsal’alhTsawout First NationTsay Keh Dene NationTseshahtTseycum First NationTŝideldel First NationTs'il Kaz KohTs’kw’aylaxw First NationTsleil-Waututh NationT’Sou-ke First NationTsq’escen’ First NationTs’uubaa-asatxTsuut’ina NationTzeachten First NationUlkatchoUpper Nicola Indian BandWagmatcook First NationWahgoshig First NationWahnapitae First NationWasagamack First NationWasauksing First NationWashagamis BayWaterhen LakeWaywayseecappo First Nation Treaty 4-1874Webequie First NationWe’koqma’q First NationWest Moberly First NationsWet’suwet’en First NationWe Wai Kai NationWhispering Pines/Clinton Indian BandWhite Bear First NationWhitefish LakeWhitefish River First NationWikwemikongWilliams Lake First NationWitset First NationW̱JOȽEȽPWolastoqiyik (Malecite) Wahsipekuk First NationWolf LakeWoodstock First NationWuikinuxv NationWunnuminWuskwi Sipihk First NationXatśūll First NationXaxli’pYakweakwioose First NationYale First NationYaq̓it ʔa·knuqⱡi’itYekooche First NationYellowknives Dene First NationYellow Quill BandYork Factory First NationZagimē Anishinabēk2005, c. 9, Sch.; SOR/2007-276, s. 1; SOR/2008-264; SOR/2009-25, 284; SOR/2010-183, 254; SOR/2011-27, 211, 290; SOR/2012-30, 122, 273; SOR/2013-59, 176; SOR/2014-77, 208; SOR/2015-52, 94; SOR/2016-8, 213, 303; SOR/2017-23, 74, 186; SOR/2018-50, 180, 234, 235, 260SOR/2019-15, s. 1SOR/2019-31, s. 1SOR/2019-73, s. 1SOR/2019-85, s. 1SOR/2019-112, s. 1SOR/2019-182, s. 1SOR/2019-203, s. 1SOR/2019-304, s. 1SOR/2019-324, s. 1SOR/2020-13, s. 1SOR/2020-24, s. 1SOR/2020-37, s. 1SOR/2020-163, s. 1SOR/2020-168, s. 1SOR/2020-245, s. 1SOR/2020-268, s. 1SOR/2021-29, s. 1SOR/2021-39, s. 1(F)SOR/2021-39, s. 2SOR/2021-39, s. 3SOR/2021-39, s. 4SOR/2021-39, s. 5SOR/2021-39, s. 6SOR/2021-39, s. 7SOR/2021-39, s. 8SOR/2021-39, s. 9SOR/2021-39, s. 10SOR/2021-39, s. 11SOR/2021-39, s. 12SOR/2021-39, s. 13SOR/2021-39, s. 14SOR/2021-39, s. 15SOR/2021-39, s. 16SOR/2021-110, s. 1SOR/2021-171, s. 1SOR/2021-171, s. 2SOR/2021-171, s. 3SOR/2021-171, s. 4SOR/2021-171, s. 5SOR/2021-171, s. 6SOR/2021-171, s. 7SOR/2021-214, s. 1SOR/2022-7, s. 1SOR/2022-116, s. 1SOR/2022-193, s. 1SOR/2022-260, s. 12023, c. 22, s. 24SOR/2023-69, s. 1SOR/2023-164, s. 1SOR/2023-225, s. 1SOR/2023-259, s. 1SOR/2024-2, s. 1SOR/2024-207, s. 1SOR/2024-227, s. 1SOR/2024-227, s. 2SOR/2024-227, s. 3SOR/2024-227, s. 4(F)SOR/2024-227, s. 5SOR/2024-227, s. 6SOR/2024-227, s. 7SOR/2024-227, s. 8SOR/2024-227, s. 9(F)SOR/2024-228, s. 1SOR/2025-22, s. 1SOR/2025-152, s. 1SOR/2025-212, s. 1SOR/2026-21, s. 1RELATED PROVISIONS — 2012, c. 19, s. 667
DefinitionIn sections 668 to 673, Institute means the First Nations Statistical Institute.
 — 2012, c. 19, s. 668
Appointments terminatedDirectors of the Institute, including the Chairperson and Vice-Chairperson, cease to hold office on the coming into force of this subsection.No compensationDespite the provisions of any contract, agreement or order, no person appointed to hold office as a director of the Institute, including as the Chairperson or Vice-Chairperson, has any right to claim or receive any compensation, damages, indemnity or other form of relief from Her Majesty in right of Canada or from any employee or agent of Her Majesty for ceasing to hold that office or for the abolition of that office by the operation of this Division.
 — 2012, c. 19, s. 669
ReferencesEvery reference to the Institute in a deed, contract or other document executed by the Institute in its own name is to be read, unless the context otherwise requires, as a reference to Her Majesty in right of Canada.
 — 2012, c. 19, s. 670
Minister authorizedThe Minister of Indian Affairs and Northern Development is authorized to sell or otherwise dispose of all of the Institute’s assets and to do everything necessary for or incidental to closing out the Institute’s affairs.
 — 2012, c. 19, s. 671
SurplusAny surplus that remains after the satisfaction of the Institute’s debts and liabilities and the winding-up charges, costs and expenses belongs to Her Majesty in right of Canada.Unsatisfied debts and liabilitiesAny of the Institute’s debts and liabilities that remain unsatisfied on the day on which the Institute is dissolved become the debts and liabilities of Her Majesty in right of Canada.ExceptionDespite subsection (2), Her Majesty in right of Canada is not liable in respect of any claim against the Institute arising from its exercise of, or its failure to exercise, any of its powers or functions.
 — 2012, c. 19, s. 672
Commencement of legal proceedingsAny action, suit or other legal proceeding in respect of an obligation or liability incurred by the Minister of Indian Affairs and Northern Development in closing out the Institute’s affairs may be brought against Her Majesty in right of Canada in any court that would have had jurisdiction if the action, suit or other legal proceeding had been brought against the Institute.Continuation of legal proceedingsAny action, suit or other legal proceeding to which the Institute is a party — other than an action, suit or legal proceeding in respect of any claim against the Institute arising from its exercise of, or failure to exercise, any of its powers or functions — that is pending in a court on the coming into force of this subsection may be continued by or against Her Majesty in right of Canada in the same manner and to the same extent as it could have been continued by or against the Institute.
 — 2012, c. 19, s. 673
Limit of liabilityNo civil proceedings lie against a former director or employee of the Institute for anything done, or omitted to be done, in the exercise or purported exercise in good faith of any power, or in the performance or purported performance in good faith of any duty, of that person in accordance with the First Nations Fiscal Management Act, as that Act read immediately before the coming into force of section 660.
 — 2023, c. 16, s. 60
Transition to five-year planAn institution, as defined in section 114 of the First Nations Fiscal Management Act, may, for the financial year following the day on which section 45 comes into force, establish a corporate plan in accordance with section 118 of that Act either as it read immediately before that day or as it reads on or after that day.
 — 2023, c. 16, s. 61
Part 6 of First Nations Fiscal Management ActSubsections 118(1), 120(4), 121(1) and 128(1), section 129 and subsection 130(1) of the First Nations Fiscal Management Act do not apply to the Institute or to its present or former directors, officers, employees or agents or mandataries until the first day of the second financial year following the financial year in which all the directors have been appointed under section 104 of that Act.Institute’s first annual meetingDespite subsection 131(1) of the First Nations Fiscal Management Act, the board of directors of the Institute must call its first annual meeting within 18 months after the first day of the second financial year following the financial year in which all the directors have been appointed under section 104 of that Act.Definition of InstituteIn this section, Institute has the same meaning as in subsection 101 of the First Nations Fiscal Management Act.
SOR/2026-212026-02-12SOR/2025-2122025-10-16SOR/2025-1522025-07-23SOR/2025-222025-02-122023, c. 162025-01-062024, c. 302024-11-27SOR/2024-2272024-11-21SOR/2024-2282024-11-21SOR/2024-2072024-10-16SOR/2024-22024-01-15