First Nations Fiscal Management Act
Marginal note:Financial administration laws
9 (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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