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First Nations Fiscal Management Act

Version of section 9 from 2006-04-01 to 2016-03-31:

Marginal note:Financial administration laws

  •  (1) Subject to subsections (2) and (3), the council of a first nation may make laws

    • (a) respecting the financial administration of the first nation; and

    • (b) delegating to any person or body its powers to make laws under paragraph (a).

  • Marginal note:Approval required

    (2) A law made under subsection (1) by a borrowing member, 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.

  • Marginal note:Coming into force

    (3) A law made under subsection (1) comes into force on the latest of

    • (a) the day on which it is made,

    • (b) the day of coming into force set out in the law, and

    • (c) in the case of a law or amendment made by a borrowing member, the day after it is approved by the First Nations Financial Management Board.

  • Marginal note:Evidence law duly made

    (4) A 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.

  • Marginal note:Additional information on request

    (5) At the request of the First Nations Financial Management Board, a first nation shall provide any documents that the Board requires in order to

    • (a) review a financial administration law submitted to the Board;

    • (b) determine that the law was made in accordance with this Act, the regulations or any standards made under subsection 55(1); or

    • (c) perform any of its other functions under this Act.

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