First Nations Fiscal Management Act

An 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 Acts Preamble Whereas 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: Short title This Act may be cited as the First Nations Fiscal Management Act. Definitions The 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 means tax revenues and fees imposed or collected by a First Nation under a law or agreement, other than local revenues, and revenues 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; and revenues 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 definitions Unless 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 61 For 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 schedule At the request of the council of a band, the Minister may, by order, amend the schedule in order to add or change the name of the band; or delete 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. Regulations The Governor in Council may make regulations prescribing anything that is to be prescribed under paragraph (k) of the definition other revenues. For greater certainty For 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. [Repealed, 2024, c. 30, s. 25] Financial administration laws The 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. Local revenue laws Subject to sections 4 and 6 and any regulations made under paragraph 36(1)(d), the council of a First Nation may make laws respecting taxation for local purposes of reserve lands and interests or rights in reserve lands, including the 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, and the 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), including the 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, and the 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); and delegating 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 required A law made under subsection (1) does not have any force or effect until it is approved by the First Nations Tax Commission. Coming into force A law made under subsection (1) comes into force on the later of the day of coming into force set out in the law, and the day after it is approved by the First Nations Tax Commission. Appeals A law made under subparagraph (1)(a)(i) shall include an appeal procedure in respect of assessments, incorporating such procedures as are prescribed by regulation; and fixed rates of remuneration and fixed terms of office for any persons designated to decide the appeals. Application to competent court The 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 by refraining from doing anything that, in the opinion of the court, constitutes or is directed toward the contravention of that law; or doing anything that, in the opinion of the court, may prevent the contravention of that law. Collection — competent court The 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 Act If 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 right Despite 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 notice In any proceedings, judicial notice may be taken of a local revenue law. Statutory Instruments Act The Statutory Instruments Act does not apply in respect of local revenue laws or laws made under section 9. Notice of proposed laws At 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 shall publish 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; and send the notice, by mail or electronic means, to the First Nations Tax Commission. Exemption The 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 notice A notice referred to in subsection (1) shall describe 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); and if the council is to review the proposed law at a public meeting, state the time and place of the meeting. Council to consider representations Before 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). Further representations When 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 shall provide a copy of the law to any persons who made representations under paragraph 6(3)(c); and invite those persons to make written representations to the Commission within 30 days after the day on which they receive the copy of the law. Information accompanying property taxation law A property taxation law — including an amendment of a property taxation law — shall, when submitted to the First Nations Tax Commission for approval, be accompanied by a 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; and evidence that the law was duly made by the council. The 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 information A law made under paragraph 5(1)(a.1) or (c), when submitted to the First Nations Tax Commission for approval, shall be accompanied by Evidence law duly made A 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 request At the request of the First Nations Tax Commission, a First Nation shall provide any documents that the Commission requires in order to review 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); or perform any of its other functions under this Act. Other revenues laws The council of a First Nation may make laws respecting 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); and delegating 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. the day after the day on which it is made. In any proceedings, judicial notice may be taken of laws made under subsection (1). The Statutory Instruments Act does not apply in respect of laws made under subsection (1). Publication The First Nation shall publish all laws made under paragraphs (1)(b) and (c) in the First Nations Gazette. respecting the financial administration of the First Nation; and delegating to any person or body its powers to make laws under paragraph (a). A 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 approval The 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). the day after it is approved by the First Nations Financial Management Board. [Repealed, 2015, c. 36, s. 181] 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. At the request of the First Nations Financial Management Board, a First Nation shall provide any documents that the Board requires in order to review 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); or In 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). Repeal of financial administration law A 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. 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). No repeal by borrowing members A 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) unless the 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; or the 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 Authority A 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 commitment A 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. Legal capacity of first nations For greater certainty, for the purposes of Part 4, a borrowing member has the capacity to contract and to sue and be sued. Local revenue account Local 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 expenditures Local revenues may be expended only under the authority of a law made under paragraph 5(1)(b). Balanced budget Expenditures 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. Expenditure not authorized by law Despite 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; or in 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. Local revenues Local 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 reports For 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 report The audited financial report or the audited annual financial statements, as the case may be, shall be made available to the 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; and the Minister. Reporting of other revenues If 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. Non-application of certain provisions Paragraphs 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). The 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) Commission There 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 privileges The Commission has the capacity, rights, powers and privileges of a natural person, including the capacity to enter into contracts; acquire, hold and dispose of property or an interest or right in property, or lease property; raise, invest or borrow money; and sue and be sued. When agent of Her Majesty The Commission is an agent of Her Majesty only for the approval of local revenue laws. Savings For 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 Commissioner On the recommendation of the Minister, the Governor in Council shall appoint a Chief Commissioner and Deputy Chief Commissioner. Tenure The 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 commissioners On 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. On 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 commissioner A body prescribed by regulation shall appoint an additional commissioner to hold office during pleasure for a term not exceeding five years. Staggered terms In 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. Qualifications The 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. Status The Chief Commissioner shall hold office on a full-time basis, while the other commissioners shall hold office on a part-time basis. Reappointment A commissioner may be reappointed for a second or subsequent term of office. Remuneration Commissioners shall be paid the remuneration determined by the Governor in Council. Expenses The 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. Chief Commissioner — functions The 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 — functions In 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 office The 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 office The Commission shall maintain an additional office in the National Capital Region described in the schedule to the National Capital Act. Rules of procedure The Commission may make any rules that it considers necessary for the conduct of, and the fixing of a quorum for, its meetings. Staff The Commission may hire any staff that is necessary to conduct the work of the Commission; and determine the duties of those persons and the conditions of their employment. Salaries and benefits Persons hired under subsection (1) shall be paid the salaries and benefits fixed by the Commission. Mandate The purposes of the Commission are to support 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; and collect data, publish statistical information and conduct research and analysis on matters related to the purposes set out in the other paragraphs of this section. Powers In 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. Local revenue law review The Commission shall review every local revenue law. Written submissions Before 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 approval Subject 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. Registry The Commission shall maintain a registry of every law approved by it under this section and every financial administration law made under section 9. Restrictions The Commission shall not approve a law made under paragraph 5(1)(d) with respect to a loan referred to in paragraph 74(a) unless the 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); and the First Nation has sufficient unutilized borrowing capacity in respect of that loan. Copy and certificate On 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 with a true copy of the law registered under subsection 31(4); and a certificate stating that the law meets all the requirements of this Act and the regulations made under this Act. Notice of judicial review If 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 evidence A 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. Review on request On the request in writing by a member of a First Nation, or by a person who holds an interest or right in reserve lands, who is 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, and is 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 review If 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 situation If, 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 Commission shall order the First Nation to remedy the situation; and may, 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. First Nations Gazette All 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 publication The Commission shall publish the First Nations Gazette at least once in each calendar year. Standards The Commission may establish standards, not inconsistent with the regulations, respecting the 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; and the dates on or before which laws must be made by a council of a First Nation under section 10. Procedures The Commission may establish procedures respecting submission for approval of local revenue laws; approval of those laws; representation of taxpayers’ interests in the decisions of the Commission; and resolution of disputes with First Nations concerning the taxation of interests or rights on reserve lands. The Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2). Functions and powers The Commission may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes. No identifying information The 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). Exception The 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. Information sharing agreements The 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. The Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Commission, make regulations prescribing 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 procedures for requiring the production of documents from a First Nation or person requesting a review under subsection 33(1), for conducting hearings, and authorizing 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; and respecting the exercise of the law-making powers of First Nations under subsection 5(1). Provincial differences Regulations made under paragraph (1)(a) may vary from province to province. Authority to vary Regulations made under paragraph (1)(b) may authorize the Commission to vary 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; and delegate 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 Commissioner Regulations 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). Inconsistencies In 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. Definition of Board In this Part, Board means the First Nations Financial Management Board. Establishment There 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. The Board has the capacity, rights, powers and privileges of a natural person, including the capacity to Not agent of Her Majesty The Board is not an agent of Her Majesty. Appointment of Chairperson On 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 directors The 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 directors The Governor in Council shall endeavour to ensure that the majority of the directors are Indigenous. Appointment by AFOA Canada AFOA 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. In 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. The 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. Election of Vice-Chairperson The board of directors shall elect a Vice-Chairperson from among the directors. Functions In 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. Directors may be reappointed for a second or subsequent term of office. The Chairperson shall hold office on a full-time basis and the other directors shall hold office on a part-time basis. Directors shall be paid the remuneration determined by the Governor in Council. The 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. The board of directors may make any rules that it considers necessary for the conduct of its meetings. The head office of the Board shall be at a location determined by the Governor in Council. The board of directors may hire any staff that is necessary to conduct the work of the Board; and Persons hired under subsection (1) shall be paid the salary and benefits fixed by the board of directors. The purposes of the Board are to assist 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; and Review of financial management system On 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). Report On completion of a review under subsection (1), the Board shall provide to the First Nation a report setting out the scope of the review undertaken; and an 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 certificate If 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 certificate The 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 that the 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; or the First Nation is no longer in compliance, in all material respects, with the standards. Form and content The 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 required If a borrowing member’s certificate is revoked, the borrowing member shall, without delay, take any measures required to re-establish its certification. Opinion final An opinion of the Board referred to in this section is final and conclusive and is not subject to appeal. Review and monitoring On 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 monitor the implementation of laws of the First Nation respecting financial administration; the compliance of those laws with the standards established under paragraph 55(1)(a); and the First Nation’s compliance with the standards established under paragraph 55(1)(c) or (d). On 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. The Board may establish procedures respecting the requests for review and monitoring referred to in subsection (1); the review and monitoring referred to in subsection (1); and the reports referred to in subsection (2). The Statutory Instruments Act does not apply in respect of procedures established under subsection (3). Review of financial management system — non-scheduled entities On 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; or a 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. On completion of a review under subsection (1), the Board shall provide to the entity a report setting out an 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. The Board may establish standards, not inconsistent with the regulations, respecting financial management systems and financial performance of entities referred to in subsection (1); and the form and content of laws or by-laws respecting financial administration of entities referred to in subsection (1). The Board may establish procedures respecting the review referred to in subsection (1). The Statutory Instruments Act does not apply to a standard established under subsection (3) or a procedure established under subsection (4). All standards established by the Board under subsection (3) shall be published in the First Nations Gazette. On 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 monitor the 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); and the entity’s compliance with the standards established under paragraph 50.1(3)(a). On 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. Required intervention — local revenues On 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 revenues On 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. Imposed co-management — local revenues The 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; or if the Board has received a notice under paragraph 33(3)(b) or subsection 86(4). Under the co-management arrangement, the Board may recommend 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; and with 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 Board The Board may terminate the co-management arrangement on giving notice to the council of the First Nation that the Board 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; 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; or third-party management of the First Nation’s local revenues is required. An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice The Board shall advise the First Nations Finance Authority and the First Nations Tax Commission of the commencement or termination of the co-management arrangement. Imposed co-management — other revenues The 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; or if the Board has received a notice under subsection 86(5). recommend 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; and with 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. 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; 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; third-party management of the First Nation’s other revenues is required. Third-party management — local revenues The 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 the Board assumes third-party management of the local revenues of a First Nation, the Board has the exclusive authority to subject 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 to with 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, and provide 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); and with 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. Delegation — consent of council required The 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. Prohibition The 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 months Where 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 mandatary For 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). The Board may terminate third-party management of a First Nation’s local revenues, on giving notice to the council of the First Nation, if it 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; or in 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. The 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. Third-party management — other revenues The 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 the Board assumes third-party management of the other revenues of a First Nation, the Board has the exclusive authority to subject 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); with 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, provide 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; and with 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 power In 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. For greater certainty, the Board is not an agent or mandatary of the First Nations Finance Authority while exercising its exclusive authority under subsection (2). The 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. The 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). If 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. The Board may terminate third-party management of a First Nation’s other revenues, on giving notice to the council of the First Nation, if it 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; or in 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. The 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. Required information At 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. the form and content of laws made under section 9; approvals of the Board under Part 1; certification of First Nations under section 50; and financial reporting under subsection 14(1). the submission for approval and approval of laws made under section 9; the issuance of a certificate under subsection 50(3); and the implementation or termination of a co-management arrangement or third-party management of a First Nation’s local revenues or other revenues. All 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. The Board may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes. The 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). The 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. The 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. The Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Board, make regulations respecting 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; and fixing 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. For 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 regulations adapting any provision of this Act or of any regulation made under this Act; and restricting the application of any provision of this Act or of any regulation made under this Act. 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] There is hereby established a non-profit corporation without share capital, to be known as the First Nations Finance Authority. Membership The members of the Authority shall be its borrowing members and investing members. The 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 guarantees No person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of the Authority. Board of Directors The 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 directors A 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 directors Directors shall be elected by representatives of borrowing members. Function of Deputy Chairperson In 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 office Directors shall hold office on a part-time basis for a term of one year. Additional terms A director is eligible to be re-elected for a second or subsequent term of office. Ceasing to be director A person ceases to be a director when the 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; or the person is removed from office before the expiry of the term of the appointment by a special resolution of the board of directors. Quorum Two thirds of the directors constitute a quorum at any meeting of the board of directors. Majority vote Decisions by the board of directors shall be made by a majority vote of the directors present. Canada Not-for-profit Corporations Act The Canada Not-for-profit Corporations Act does not apply to the Authority. Canada Business Corporations Act The 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); and subsections 257(1) and (2) (certificates of Authority as evidence). Remuneration of directors Directors 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 care The directors and officers of the Authority in exercising their powers and performing their duties shall act honestly and in good faith with a view to the best interests of the Authority; and exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. Limit of liability Directors and officers are not liable for a failure to comply with subsection (1) if they rely in good faith on a 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; or a report of a lawyer, notary, accountant, engineer, appraiser or other person whose position or profession lends credibility to a statement made by that person. President The board of directors shall appoint a President to act as the chief executive officer of the Authority. Other staff The President may employ any other officers and employees that are necessary to conduct the work of the Authority. Annual general meeting The Authority shall hold an annual general meeting of representatives for the purpose of presenting the annual report and audited financial statements of the Authority; electing the board of directors; and dealing with any other business of the Authority that may be presented by the board of directors. By-laws The board of directors may make by-laws respecting 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; and generally for the conduct and management of the affairs of the Authority. The head office of the Authority shall be on reserve lands at a location determined by the board of directors. Annual budget At 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. The purposes of the Authority are to secure 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, or loans 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 for capital 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, and short-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); and provide advice regarding the development of financing mechanisms for First Nations. Powers of board of directors For the purposes of this Part, the board of directors may by resolution borrow 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; and provide for payments 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, or the timing of the issuance of securities. Security issuance requirements A resolution respecting the issuance of securities shall set out the rate of interest; the time and place of repayment of principal and interest; and the currency in which repayment of principal and interest will be made. Security issuance resolutions A resolution respecting the issuance of securities may provide that the 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; or the 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 issue The 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 conclusive A 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 price The board of directors may sell securities at their par value or at other than par value. Delegation The 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 member A First Nation may apply to the Authority to become a borrowing member. Criteria The 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. Ceasing to be borrowing member A 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. Priority If 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 Crown For greater certainty, subsection (1) does not apply to Her Majesty. Limitations — loans secured by property tax revenues The 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 revenues The Authority shall not make a loan secured by other revenues to a borrowing member unless the 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 is managed by a third party approved by the Authority, and subject 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; and the 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. Maintenance of registry and publication The 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. Restriction A 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. Limitations — short-term loans The 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). Sinking fund The 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 accounts Where 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 investments Funds in a sinking fund may be invested only in securities 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; or deposits in a bank or trust company in Canada or non-equity or membership shares in a credit union. Surpluses The Authority may declare a surplus in a sinking fund and use the surplus, in order of priority, to replenish any amounts paid out of the debt reserve fund; and make a distribution to borrowing members who are participating in that fund. Recovery from sinking fund The Authority may recover fees payable by a borrowing member from any surplus to be distributed to that member under paragraph (1)(b). Debt reserve fund The 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 fund The Authority shall withhold — and deposit in the debt reserve fund — 5% of the amount of any loan. Percentage withheld may be reduced by board However, 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 account A separate account shall be kept for each security issued and for each borrowing member contributing to the debt reserve fund. Investments The 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 shortfall The 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; and if 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. Repayment Money 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. Credit enhancement fund The Authority shall establish a fund for the enhancement of the Authority’s credit rating. The 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 income Investment income from the credit enhancement fund may be used to temporarily offset any shortfalls in the debt reserve fund; to defray the Authority’s costs of operation; and for any other purpose prescribed by regulation. Capital The capital of the credit enhancement fund may be used to temporarily offset any shortfalls in the debt reserve fund; and Repayment to credit enhancement fund Any 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. Default by first nation If 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 shall notify the borrowing member of the failure; and send 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 report If 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. On 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 intervention The 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 revenues if, 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; or if, 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. The 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 revenues if, 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; or if, 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 Commission The Authority must provide a copy of the notices referred to in subsections (4) and (5) to the First Nations Tax Commission. Short-term pooled investment funds The Authority may establish short-term pooled investment funds. Funds in a short-term pooled investment fund may be invested only in securities 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; or any other investments or class of investments prescribed by regulation. Annual report The 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. Contents The annual report shall include the financial statements of the Authority and its auditor’s opinion on them. Assignment — revenues payable by Her Majesty Despite 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 binding An 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; and the rights of the assignee are subject to all rights of set-off or compensation in favour of Her Majesty in right of Canada. The Governor in Council may, on the recommendation of the Minister after consultation by the Minister with the Authority, make regulations prescribing 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] Council resolution The council of a First Nation may submit to the Minister a resolution of the council requesting the payment to the First Nation of moneys held by Her Majesty for the use and benefit of the First Nation; and moneys to be collected or received in future by Her Majesty for the use and benefit of the First Nation.

Information to accompany resolution The resolution shall be accompanied by proof that the 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; and the payment of the moneys to the First Nation has been approved under section 91. Approval by members If 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 voters Every 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 advice Before 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 provided Before 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 of their 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; and the fact that the council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a). Majority approval The payment of the moneys to the First Nation is approved if a majority of eligible voters who participated voted to approve the payment. Minimum participation Despite subsection (5), the payment is not approved unless at least 25% of all eligible voters participated in the vote. Increased percentage The council may, by resolution adopted before the vote, increase the percentage of eligible voters required under subsection (6). Initial payment of moneys After 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 that Subsequent payment Following 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 apply Subsection (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. Liability for future management Following the payment of moneys under section 92, Her Majesty is not liable for the management of those moneys. Past liability This 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. Indian Act Sections 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. Definition of service In 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. Laws respecting the provision of services The 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 laws regulating or prohibiting the provision of services; imposing requirements and prohibitions with respect to infrastructure; and respecting, subject to any conditions and procedures prescribed by regulation, the enforcement of laws made under this subsection, including by providing for measures to require 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, and discontinue services. For greater certainty, laws made under subsection (1) apply only on the reserve lands of the First Nation that made the laws. Non-compliance with measure If 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. The 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 by If 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). The 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). The 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. A law made under subsection 97(1) comes into force on the later of the day on which it is published in the First Nations Gazette. In any proceedings, judicial notice may be taken of a law made under subsection 97(1). The Statutory Instruments Act does not apply in respect of a law made under subsection 97(1). Definition of Institute In this Part, Institute means the First Nations Infrastructure Institute. There 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. The Institute has the capacity, rights, powers and privileges of a natural person, including the capacity to Not agent of His Majesty The Institute is not an agent of His Majesty in right of Canada. Appointment of first directors On 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. Appointment of subsequent directors — Governor in Council On 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 Minister The 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 bodies One 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. The 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. Removal of directors The 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). Continuation in office Despite subsections 105(1) and (3), an appointed director continues to hold office until they are reappointed or their successor is appointed. Chairperson — functions The Chairperson is the chief executive officer of the Institute and has supervision over, and direction of, the work and staff of the Institute. Interim Chairperson In the event of the absence or incapacity of the Chairperson, the Vice-Chairperson shall assume the duties and functions of the Chairperson. Powers of the board make any rules and procedures that it considers necessary for the conduct of its meetings; and in 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, and establish the length of their term, which shall not exceed five years. The head office of the Institute shall be on reserve lands at a location determined by the board of directors. hire any staff that is necessary to conduct the work of the Institute; and The purposes of the Institute are to assist 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; and In 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 services On 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, including assistance 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; and support in asset management. Review of infrastructure project On 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). On completion of the review, the Institute shall provide to the First Nation or entity a report setting out an 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. If 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. The 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. The 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. An opinion of the Institute referred to in this section is final and conclusive and is not subject to appeal. Review for continued compliance On 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). On 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 final The content of the report is final and conclusive and is not subject to appeal. Review of First Nation laws On 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 compliance If 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. The Institute may establish standards, not inconsistent with the regulations, respecting the form and content of laws made under subsection 97(1); the planning, developing, procuring, owning, managing, operating and maintaining infrastructure; asset management; and the certification and review of infrastructure projects. The Institute may establish procedures respecting reviews 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; and reviews for continued compliance under section 113.6 and requests for such reviews. The Institute shall publish all standards established under subsection (1) and procedures established under subsection (2) in the First Nations Gazette. The Institute may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes. The 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). The 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. The 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. The 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. board of directors includes in 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; and in 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) Exclusion from federal public administration The officers and employees of an institution are not part of the federal public administration. No person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of an institution. Financial year The financial year of each institution is the period from April 1 to March 31, unless otherwise prescribed by regulation. Expenditure of revenues Subject 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 plans Each 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 plan The corporate plan of each institution shall encompass all of the businesses and activities of the institution and include a statement of the 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; and the institution’s expected performance for that five-year period as compared to its objectives set out in the last corporate plan. Contents of budget The 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 plan The 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 activity No 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. Amendment Any amendment by an institution to its corporate plan or budget shall be submitted to the Minister for approval. Books and systems Each institution shall keep books of account and records in relation to them; and maintain financial and management control and information systems. The books, records and systems referred to in subsection (1) shall be kept and maintained in such a manner as will provide reasonable assurance that the 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; and its operations are carried out effectively. Internal audit An institution may cause internal audits to be conducted to assess compliance with subsections (1) and (2). Financial statements Each 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 statements The 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. Directions The Minister may give directions respecting the preparation of financial statements, to supplement generally accepted accounting principles. Annual auditor’s report Each institution shall cause an annual auditor’s report to be prepared in accordance with any directions of the Minister, on its financial statements; and any quantitative information required to be audited under subsection (3). A report under subsection (1) shall include separate statements as to whether in the auditor’s opinion the 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, and the 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; and call 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 information The 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 Minister Each institution shall submit its audited financial statements to the Minister at least 30 days before the day of its annual meeting. Special examination Each 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. Plan Before 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 disagreements Any 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 audit An 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. An 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. The report of an examiner shall include a 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; and a statement of the extent to which the examiner relied on internal audits. Posting of report An 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. Examiner Subject to subsection (2), a special examination shall be carried out by the auditor of the institution. Other auditor If, 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 General The 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 information At 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 inform If 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. Nothing 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 of the 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; or any business or policy decision of the institution. Qualified privilege An oral or written statement or report made under this Part by an auditor or examiner has qualified privilege. Audit committee Each 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). Duties An audit committee shall review, 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; and perform any other functions that are assigned to it by the board of directors of the institution. Auditor’s or examiner’s attendance An 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 attendance The 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 meeting The 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 developments The 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. Each 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 contents The 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 include the 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; and any other information that is required under this Act or any other Act of Parliament. Annual meeting The 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 held The 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 meeting An institution shall, at least 30 days before the annual meeting, publish a notice on an Internet website to be maintained by the institution setting 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; and specifying that the institution’s annual report may be accessed on that website. Availability to public At the annual meeting, the board of directors shall ensure that the institution’s most recent annual report is made available to those participating in the meeting; and the 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. Conflict of interest No 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. No 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. All 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. Liability of His Majesty No 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 required The 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). No appropriation No 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). No compensation No 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; and a director or employee of the First Nations Infrastructure Institute or a person acting on its behalf. Limit of liability — co-management or third-party management Despite 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. Personal liability for costs No director or employee of the First Nations Financial Management Board or person acting on behalf of the Board is personally liable for costs awarded 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; or awarded against the Board in any civil proceedings. No 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. Conflict with other laws In 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 laws In 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. Official languages For greater certainty, the provisions of the Official Languages Act applicable to federal institutions apply to the First Nations Tax Commission. If 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. The Governor in Council may make regulations prescribing anything that is to be prescribed under subsection 20(3), 41(2) or 105(3) or section 116; and respecting 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. For 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 regulations Amendments to schedule in regulations The 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 to add or change the name of the Indigenous group; or delete 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. 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 regulations The 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 to add or change the name of the organization; or delete 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. Regulations — joint reserve lands For 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 regulations [Repealed, 2023, c. 16, s. 57] ITAB employees Persons 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 procedure Until 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 directors Persons 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-laws By-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-laws For greater certainty, subsections 5(2) to (7) apply to amendments of by-laws referred to in subsection (1). Non-application of section This 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. By-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. By-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). By-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. By-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). Review and evaluation Within 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. [Amendment] [Amendments] Order in council The 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.] Aamjiwnaang Abegweit Abénakis of Wôlinak First Nation Acadia Acho Dene Koe First Nation Adams Lake Indian Band Ahousaht First Nation Ahtahkakoop Cree Nation Aitchelitz First Nation ?Akisq’nuk First Nation Algonquins of Barriere Lake Algonquins of Pikwakanagan First Nation Animakee Wa Zhing #37 First Nation Animbiigoo Zaagi’igan Anishinaabek Anishnaabeg of Naongashiing Annapolis Valley First Nation ?Aq’am Atikameksheng Anishnawbek Atikamekw of Opitciwan First Nation Atikamekw of Wemotaci First Nation Attawapiskat Batchewana First Nation Beardy’s and Okemasis Bear River First Nation Beausoleil First Nation Beaver Lake Cree Nation Beecher Bay Behdzi Ahda″ First Nation Berens River Big Grassy Big Island Lake Cree Nation Bigstone Cree Nation Biinjitiwaabik Zaaging Anishinaabek First Nation Binche Whut'en Bingwi Neyaashi Anishinaabek Black River First Nation Bonaparte First Nation Brokenhead Ojibway Nation Brunswick House First Nation Buctouche Mic Mac Band Buffalo Point First Nation Caldwell First Nation Campbell River Indian Band Canoe Lake Cree First Nation Carry the Kettle Cat Lake First Nation Cayoose Creek Indian Band Chapleau Cree First Nation Chawathil First Nation Cheam Cheslatta Carrier Nation Chippewas of Georgina Island First Nation Chippewas of Kettle and Stony Point First Nation Chippewas of Rama First Nation Chippewas of the Thames First Nation Cold Lake First Nations Coldwater Indian Band Conseil de la Première Nation Abitibiwinni Constance Lake Cook’s Ferry Cote First Nation Cowichan Cross Lake Band of Indians Cumberland House Cree Nation Curve Lake First Nation Dakota Plains Dakota Tipi Doig River First Nation Douglas Driftpile Cree Nation Eagle Lake First Nation Ebb and Flow Eel River Bar First Nation Ehattesaht Elsipogtog First Nation English River First Nation Enoch Cree Nation #440 Esdilagh First Nation Eskasoni Esk’etemc Esquimalt Nation Fisher River Flying Dust First Nation Fort McKay First Nation Fort McMurray #468 First Nation Fort Nelson First Nation Fort William Fox Lake Frog Lake First Nation Gambler First Nation Garden Hill First Nation Garden River First Nation George Gordon First Nation Gitanmaax Gitanyow Gitga’at First Nation Gitsegukla First Nation Gitwangak First Nation Gitxaala Nation Glen Vowell Glooscap First Nation Gwa’sala-’Nakwaxda’xw Nations Gwichya Gwich'in Hagwilget Village Council Haisla Nation Halalt First Nation Halfway River First Nation Heiltsuk Henvey Inlet First Nation High Bar First Nation Homalco First Nation Hupacasath First Nation Indian Island First Nation Innue Essipit Bande des Innus de Pessamit Innu Takuaikan Uashat mak Mani-utenam Inuvik Native Band Iskatewizaagegan #39 Independent First Nation Iskut Jean Marie River First Nation Kahkewistahaw First Nation Kanaka Bar K’atlodeeche First Nation Katzie First Nation Kawacatoose First Nation Kebaowek First Nation Kehewin Cree Nation The Key First Nation Kingfisher Kingsclear First Nation Kinistin Saulteaux Nation Kispiox First Nation Kitigan Zibi Anishinabeg Kitselas First Nation Kitsumkalum Klahoose First Nation K’ómoks First Nation Kwadacha Kwantlen First Nation Kwaw-Kwaw-Apilt First Nation Kwikwetlem First Nation Lac des Mille Lacs First Nation Lac La Ronge Indian Band Lac Seul First Nation Lake Babine Nation Lake Manitoba First Nation Lake St.

Martin Lax Kw’alaams Lennox Island First Nation Leq’á:mel First Nation Lheidli T’enneh Lhtako Dene Nation Liard First Nation Liidlii Kue First Nation Lil’wat Nation Listuguj Mi’gmaq Government Little Grand Rapids Little Red River Cree Nation Little Saskatchewan Little Shuswap Lake Indian Band Long Plain First Nation Long Point First Nation Loon River Cree Louis Bull Tribe Lower Kootenay Indian Band Lower Nicola Indian Band Lower Similkameen Lubicon Lake Lyackson Lytton Madawaska Maliseet First Nation Makwa Sahgaiehcan First Nation Malahat Nation Marcel Colomb First Nation Martin Falls Matsqui First Nation M’Chigeeng First Nation McLeod Lake Indian Band Membertou First Nation Metepenagiag Mi’kmaq Nation Metlakatla First Nation Miawpukek First Nation La Nation Micmac de Gespeg Micmacs of Gesgapegiag Mikisew Cree First Nation Millbrook Band Misipawistik Cree Nation Mississauga Mississaugas of Scugog Island First Nation Mississaugas of the Credit Mistawasis Nêhiyawak Mitaanjigamiing First Nation Mohawks of the Bay of Quinte Montagnais de Pakua Shipi Montana First Nation Moosomin Mosquito, Grizzly Bear’s Head, Lean Man First Nations Munsee-Delaware First Nation Mushuau Innu First Nation Muskeg Lake Cree Nation #102 Muskoday First Nation Muskowekwan Musqueam Nadleh Whut’en Band Nahanni Butte Nak’azdli Whut’en Namgis First Nation Nanoose First Nation Naotkamegwanning First Nation Nation Anishnabe du Lac Simon Nation Huronne Wendat Natoaganeg Nazko First Nation Nee-Tahi-Buhn Neskonlith Indian Band Netmizaaggamig Nishnaabeg Niisaachewan Anishinaabe Nation Nipissing First Nation Nisichawayasihk Cree Nation Nooaitch Northwest Angle No.33 Norway House Cree Nation N’Quatqua Ocean Man First Nation Ochapowace O’Chiese Odanak Ojibway Nation of Saugeen Okanese First Nation Old Massett Village Council One Arrow First Nation Onion Lake Cree Nation Opaskwayak Cree Nation Oromocto First Nation Osoyoos Indian Band Pabineau Pacheedaht First Nation Paqtnkek Mi’kmaw Nation Pauingassi First Nation Paul First Nation Pauquachin Peepeekisis Cree Nation No. 81 Peguis Pekuakamiulnuatsh First Nation Pelican Lake Penticton Indian Band Peter Ballantyne Cree Nation Peters First Nation Pheasant Rump Nakota Piapot First Nation Pictou Landing First Nation Piikani Nation Pinaymootang First Nation Pine Creek Popkum First Nation Poplar River First Nation Potlotek First Nation Poundmaker Prophet River First Nation Qalipu Mi’kmaq First Nation Qualicum First Nation Quatsino Rainy River First Nations Red Pheasant Cree Nation Red Sucker Lake First Nation Rolling River First Nation Roseau River Anishinabe First Nation Government Sagamok Anishnawbek Saik’uz First Nation Saint Mary’s Salt River First Nation #195 Sandy Bay Ojibway First Nation Sapotaweyak Cree Nation Saugeen Saulteau First Nations Saulteaux First Nation Seabird Island Band Semiahmoo First Nation Serpent River First Nation Shackan First Nation Shawanaga First Nation Sheguiandah First Nation Sheshatshiu Innu First Nation Sheshegwaning First Nation Shoal Lake No. 40 First Nation Shuswap First Nation Shxwhá:y Village First Nation Shxw’ow’hamel First Nation Siksika Nation Simpcw First Nation Sipekne’katik Skatin Nations Skawahlook First Nation Skeetchestn Indian Band Skidegate First Nation Skin Tyee Nation Skowkale First Nation Skownan First Nation Skwah Sliammon First Nation Snuneymuxw First Nation Songhees Nation Soowahlie Splatsin Spuzzum Sq’éwlets Squamish Nation Squiala First Nation Standing Buffalo Dakota Nation Star Blanket Cree Nation Stellat’en First Nation Stoney Nation Sts’ailes Stswecem’c Xgat’tem First Nation St. Theresa Point Sturgeon Lake First Nation Stz’uminus First Nation Sucker Creek Sumas First Nation Sunchild First Nation Swan Lake First Nation Swan River First Nation Sweetgrass Tahltan Takla Nation Taku River Tlingit First Nation Tataskweyak Cree Nation Taykwa Tagamou Nation Teetl’it Gwich’in Band Council Temagami First Nation Thunderchild First Nation Timiskaming First Nation T’it’q’et Tk’emlúps te Secwépemc Tla-o-qui-aht First Nations Tl'azt'en Nation Tl’etinqox Government Tobique First Nation Tsal’alh Tsawout First Nation Tsay Keh Dene Nation Tseshaht Tseycum First Nation Tŝideldel First Nation Ts'il Kaz Koh Ts’kw’aylaxw First Nation Tsleil-Waututh Nation T’Sou-ke First Nation Tsq’escen’ First Nation Ts’uubaa-asatx Tsuut’ina Nation Tzeachten First Nation Ulkatcho Upper Nicola Indian Band Wagmatcook First Nation Wahgoshig First Nation Wahnapitae First Nation Walpole Island Wasagamack First Nation Wasauksing First Nation Washagamis Bay Waterhen Lake Waywayseecappo First Nation Treaty 4-1874 Webequie First Nation We’koqma’q First Nation West Moberly First Nations Wet’suwet’en First Nation We Wai Kai Nation Whispering Pines/Clinton Indian Band White Bear First Nation Whitefish Lake Whitefish River First Nation Wikwemikong Williams Lake First Nation Witset First Nation W̱JOȽEȽP Wolastoqiyik (Malecite) Wahsipekuk First Nation Wolf Lake Woodstock First Nation Wuikinuxv Nation Wunnumin Wuskwi Sipihk First Nation Xatśūll First Nation Xaxli’p Yakweakwioose First Nation Yale First Nation Yaq̓it ʔa·knuqⱡi’it Yekooche First Nation Yellowknives Dene First Nation Yellow Quill Band York Factory First Nation Zagimē Anishinabēk Definition In sections 668 to 673, Institute means the First Nations Statistical Institute. Appointments terminated Directors of the Institute, including the Chairperson and Vice-Chairperson, cease to hold office on the coming into force of this subsection. Despite 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. References Every 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. Minister authorized The 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. Surplus Any 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 liabilities Any 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. Despite 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. Commencement of legal proceedings Any 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 proceedings Any 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. No 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. Transition to five-year plan An 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. Part 6 of First Nations Fiscal Management Act Subsections 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 meeting Despite 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. In this section, Institute has the same meaning as in subsection 101 of the First Nations Fiscal Management Act.