Adaptations to the First Nations Fiscal Management Act (continued)
- SOR/2016-29, s. 32
19 [Repealed, SOR/2016-29, s. 36]
Marginal note:Adaptation to section 85
20 Section 85 of the Act is adapted by adding the following after subsection (1):
Marginal note:Repayments to credit enhancement fund
(1.1) Payments made from the credit enhancement fund to a debt reserve fund established for financing secured by other revenues shall be repaid within 18 months after the day on which the payment was made — or if more than one payment has been made, within 18 months after the day on which the first payment was made — and no payments shall be made from the credit enhancement fund to the debt reserve fund after the expiry of that period until the debt reserve fund has been fully replenished under subsection 84(5).
Marginal note:Adaptation to paragraph 86(1)(b)
21 Paragraph 86(1)(b) of the Act is adapted to be read without reference to the First Nations Tax Commission.
22 [Repealed, SOR/2016-29, s. 37]
23 [Repealed, SOR/2016-29, s. 37]
Adaptations to the Revenue Management Implementation Regulations
- SOR/2016-29, s. 38
Marginal note:General adaptations
Return to footnote 2SOR/2007-245
(a) a reference to a local revenue law is to be read as a reference to a law of a first nation made under paragraph 5(1)(b), (d), (f) or (g) of the Act in relation to other revenues; and
(b) a reference to local revenues is to be read as a reference to other revenues.
- SOR/2016-29, s. 39
Marginal note:Inapplicable provisions
25 The Regulations are adapted so that the following provisions do not apply:
(a) paragraphs 5(1)(b), (c), (h) and (l);
(b) paragraph 6(1)(a); and
(c) paragraph 18(1)(d).
Marginal note:Reference to First Nations Tax Commission
26 The following provisions of the Regulations are adapted to be read without reference to the First Nations Tax Commission:
(a) paragraph 5(1)(a);
(b) paragraphs 21(1)(c) and (f); and
(c) section 22.
Marginal note:Adaptation to paragraphs 5(1)(f) and (g)
27 Paragraphs 5(1)(f) and (g) of the Regulations are adapted as follows:
(f) the first nation’s other revenues and all expenditures of other revenues, including the accounting information required under section 14 of the Act;
(g) any deposit, loan or investment, or any other agreement with a financial institution, relating to other revenues or any secured revenues trust account;
Marginal note:Adaptation to subsection 15(1)
28 Subsection 15(1) of the Regulations is adapted to be read without reference to the tax administrator.
Coming into Force
29 These Regulations come into force on the day on which they are registered.
- Date modified: