First Nations Fiscal and Statistical Management Act
2005, c. 9
[Assented to March 23rd, 2005]
An Act to provide for real property taxation powers of first nations, to create a First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Statistical Institute and to make consequential amendments to other Acts
“borrowing member”
« membre emprunteur »
“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.
“council”
« conseil de la première nation »
“council” has the same meaning as “council of the band” in subsection 2(1) of the Indian Act.
“First Nations Finance Authority”
« Administration financière des premières nations »
“First Nations Finance Authority” means the corporation established under section 58.
“First Nations Financial Management Board”
« Conseil de gestion financière des premières nations »
“First Nations Financial Management Board” means the board established under subsection 38(1).
“First Nations Gazette”
« Gazette des premières nations »
“First Nations Gazette” means the publication published under section 34.
“First Nations Statistical Institute”
« Institut de la statistique des premières nations »
“First Nations Statistical Institute” means the institute established under section 91.
“First Nations Tax Commission”
« Commission de la fiscalité des premières nations »
“First Nations Tax Commission” means the commission established under subsection 17(1).
“local revenue law”
« texte législatif sur les recettes locales »
“local revenue law” means a law made under subsection 5(1).
“local revenues”
« recettes locales »
“local revenues” means moneys raised under a local revenue law.
“property taxation law”
« texte législatif relatif à l’imposition foncière »
“property taxation law” means a law made under paragraph 5(1)(a).
“third-party management”
« Version anglaise seulement »
“third-party management” means the management of a first nation’s local revenues under section 53.
(2) 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.
(3) At the request of the council of a band, the Governor in Council may, by order, amend the schedule in order to
(i) the assessment of the value of those lands, interests and 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,
(ii) a mechanism to establish tax rates and apply them to the assessed value of those lands, interests and rights,
(iii) taxation for the provision of services in respect of reserve lands,
(iv) the taxation of business activities on reserve lands, and
(v) the imposition of development cost charges;
(i) the creation of liens on reserve lands and interests in reserve lands,
(ii) 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,
(iii) subject to subsection (7), the seizure, forfeiture and assignment of interests or rights in reserve lands,
(iv) the seizure and sale of personal property located on reserve lands, other than property located in a dwelling, and
(v) the discontinuance of services;
(2) A law made under subsection (1) does not have any force or effect until it is approved by the First Nations Tax Commission.
(3) A law made under subsection (1) comes into force on the later of
(4) A law made under paragraph (1)(a) shall include
(5) A property taxation law shall provide that, if the First Nations Financial Management Board gives notice to the first nation that third-party management of the first nation’s local revenues is required, the Board may act as agent of the first nation to fulfil any of the powers and obligations of the council under the property taxation law, this Act and any regulations made under this Act.
(6) A property taxation law of a borrowing member shall provide that the borrowing member must make a law under paragraph (1)(a) in order to recover amounts payable under paragraph 84(5)(b).
Assignment of right or interest
(7) Notwithstanding the Indian Act or any instrument conferring a right or interest in reserve lands, if there are outstanding taxes payable pursuant to a law made under paragraph (1)(a) for more than two years, the first nation may assign the right or interest in accordance with the conditions and procedures prescribed by regulation.
(8) In any proceedings, judicial notice may be taken of a local revenue law.
(9) The Statutory Instruments Act does not apply in respect of local revenue laws or laws made under section 9.
(2) 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.
(3) A notice referred to in subsection (1) shall
Council to consider representations
(4) Before making a law under any of paragraphs 5(1)(a) to (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).
Information accompanying property taxation law
(2) 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.
(3) A law made under paragraph 5(1)(c), when submitted to the First Nations Tax Commission for approval, shall be accompanied by
(4) A law made under paragraph 5(1)(b), (d) or (e) 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
(5) At the request of the First Nations Tax Commission, a first nation shall provide any documents that the Commission requires in order to
(2) A law made under subsection (1) by a borrowing member, including any amendment of such a law, does not have any force or effect until it is approved by the First Nations Financial Management Board.
(3) A law made under subsection (1) comes into force on the latest of
(4) A law made under subsection (1) that is submitted to the First Nations Financial Management Board for approval shall be accompanied by evidence that it was duly made by the council.
Additional information on request
(5) At the request of the First Nations Financial Management Board, a first nation shall provide any documents that the Board requires in order to
Annual rate and expenditure laws
No repeal by borrowing members
(2) A law made under paragraph 5(1)(b) by a borrowing member 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.
(3) The borrowing member shall, in every year, reserve such local revenues as are required to ensure that all amounts authorized to be paid to the First Nations Finance Authority in the year are actually paid in that year.
Legal capacity of first nations
(2) Local revenues may be expended only under the authority of a law made under paragraph 5(1)(b).
(3) 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.
(2) The audit report of the local revenue account shall be made available to
Non-application of certain provisions
Capacity, rights, powers and privileges
(2) The Commission has the capacity, rights, powers and privileges of a natural person, including the capacity to
(2) 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
(2) 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.
(2) 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
(3) A body prescribed by regulation shall appoint an additional commissioner to hold office during pleasure for a term not exceeding five years.
(4) 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.
(5) The Commission shall be composed of men and women from across Canada, including members of first nations, who are committed to the development of a system of first nations real property taxation and who have the experience or capacity to enable the Commission to fulfil its mandate.
(2) The Chief Commissioner shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from his or her 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
Deputy Chief Commissioner — functions
(2) The Commission shall maintain an additional office in the National Capital Region described in the schedule to the National Capital Act.
(2) Persons hired under subsection (1) shall be paid the salaries and benefits fixed by the Commission.
(2) Before approving a local revenue law, 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 by members of the first nation or others who have interests in the reserve lands of the first nation or rights to occupy, possess or use those lands.
(3) 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.
(4) The Commission shall maintain a registry of every law approved by it under this section and every financial administration law made under section 9.
(2) On approving a law made by a first nation under paragraph 5(1)(d) for financing capital infrastructure for the provision of local services on reserve lands, the Commission shall provide the First Nations Finance Authority with
(3) If the Commission becomes aware that judicial review proceedings have been undertaken in respect of a law made by a first nation under paragraph 5(1)(d) for financing capital infrastructure for the provision of local services on reserve lands, the Commission shall without delay inform the First Nations Finance Authority of those proceedings.
(4) 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.
(2) If the Commission is of the opinion that a first nation has not complied with this Part or Part 1 or with a regulation made under either Part or section 141 or 142 or that a law has been unfairly or improperly applied, it shall conduct a review of the matter in accordance with the regulations.
(3) If, after conducting a review, the Commission considers that a first nation has not complied with this Part or Part 1 or with a regulation made under either Part or section 141 or 142 or that a law has been unfairly or improperly applied, the Commission
(2) The Commission shall publish the First Nations Gazette at least once in each calendar year.
(2) The Commission may establish procedures respecting
(3) The Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2).
(i) for requiring the production of documents from a first nation or person requesting a review under subsection 33(1),
(ii) for conducting hearings, and
(iii) 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;
(2) Regulations made under paragraph (1)(a) may vary from province to province.
(3) Regulations made under paragraph (1)(b) may authorize the Commission to
(4) 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.
Capacity, rights, powers and privileges
(2) The Board has the capacity, rights, powers and privileges of a natural person, including the capacity to
Appointment of additional directors
(2) The Aboriginal Financial Officers Association of 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.
(3) 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.
(4) The board of directors shall be composed of men and women from across Canada, including members of first nations, who are committed to the strengthening of first nation financial management and who have the experience or capacity to enable the Board to fulfil its mandate.
(2) 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.
(2) Directors shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from their ordinary place of residence.
(2) Persons hired under subsection (1) shall be paid the salary and benefits fixed by the board of directors.
Review of financial management system
(2) On completion of a review under subsection (1), the Board shall provide to the first nation a report setting out
(3) If after completing a review under subsection (1) the Board is of the opinion that the first nation was in compliance with the standards, it shall issue to the first nation a certificate to that effect.
(4) 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 upon which the certificate was issued has materially changed.
(5) 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.
(6) If a borrowing member’s certificate is revoked, the borrowing member shall, without delay, take any measures required to re-establish its certification.
(7) An opinion of the Board referred to in this section is final and conclusive and is not subject to appeal.
(2) Under a co-management arrangement, the Board may
(3) The Board may terminate a co-management arrangement with a first nation on giving notice to its council that the Board is of the opinion that
(4) An opinion given by the Board under this section is final and conclusive and is not subject to appeal.
(5) The Board shall advise the First Nations Finance Authority and the First Nations Tax Commission of the commencement or termination of a co-management arrangement.
(2) If the Board assumes third-party management of the local revenues of a first nation, the Board has the exclusive right to
(3) The Board shall not make a law under paragraph 5(1)(f) 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.
(4) 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).
(5) 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.
(6) 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
(7) An opinion given by the Board under this section is final and conclusive and is not subject to appeal.
(8) 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.
(2) The Board may establish procedures respecting
(3) The Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2).
(4) 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.
“investing member”
« membre investisseur »
“investing member” means a first nation that has invested in a short-term investment pool managed by the Authority.
“long-term loan”
« prêt à long terme »
“long-term loan” means a loan the term of which is one year or longer.
“property tax revenues”
« recettes fiscales foncières »
“property tax revenues” means moneys raised under a law made under paragraph 5(1)(a).
“representative”
« représentant »
“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.
“short-term loan”
« prêt à court terme »
“short-term loan” means a loan the term of which is less than one year.
(2) No person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of the Authority.
2005, c. 9, ss. 60, 154(E).
(2) A representative of a borrowing member may nominate
(3) Directors shall be elected by representatives of borrowing members.
Function of Deputy Chairperson
(2) A director is eligible to be re-elected for a second or subsequent term of office.
(3) A person ceases to be a director when
Canada Business Corporations Act
(2) 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:
(2) Directors and officers are not liable for a failure to comply with subsection (1) if they rely in good faith on
(2) The President may employ any other officers and employees that are necessary to conduct the work of the Authority.
(i) long-term financing of capital infrastructure for the provision of local services on reserve lands,
(ii) lease financing of capital assets for the provision of local services on reserve lands, or
(iii) short-term financing to meet cash-flow requirements for operating or capital purposes under a law made under paragraph 5(1)(b), or to refinance a short-term debt incurred for capital purposes;
(i) payments related to the issuance of securities,
(ii) the registration, transfer, management and redemption of securities,
(iii) the re-issuance, reinstatement or other disposition of lost, stolen, destroyed or damaged securities or interest coupons,
(iv) the examination, cancellation or destruction of securities and of materials used in their production, or
(v) the timing of the issuance of securities.
Security issuance requirements
(2) A resolution respecting the issuance of securities shall set out
(3) A resolution respecting the issuance of securities may provide that
(4) 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).
(5) 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.
(6) The board of directors may sell securities at their par value or at other than par value.
(7) 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
(2) 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 under subsection 50(3) and has not subsequently revoked it.
Ceasing to be a borrowing member
(2) For greater certainty, subsection (1) does not apply to Her Majesty.
Limitations — infrastructure loans
Limitations — short-term loans
(2) 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.
(3) Funds in a sinking fund may be invested only in
(2) The Authority may recover fees payable by a borrowing member from any surplus to be distributed to that member under paragraph (1)(b).
(2) Subject to the regulations, the Authority shall withhold 5% of the amount of any long-term loan to a borrowing member for financing capital infrastructure for the provision of local services on reserve lands and deposit that amount in the debt reserve fund.
(3) A separate account shall be kept for each security issued and for each borrowing member contributing to the debt reserve fund.
(4) 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.
(5) If payments from the debt reserve fund reduce its balance
(i) the Authority shall, in accordance with the regulations, require all borrowing members to pay without delay amounts sufficient to replenish the debt reserve fund, and
(ii) the borrowing members shall recover those amounts under their property taxation laws.
(6) Money contributed by a borrowing member to the debt reserve fund and investment income received on it shall be repaid by the Authority to the borrowing member when all obligations in respect of the security in respect of which the money was contributed have been satisfied.
(2) 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.
(3) Investment income from the credit enhancement fund may be used
(4) The capital of the credit enhancement fund may be used
(2) 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.
(3) 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 that it considers appropriate.
(4) 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 or assume third-party management of the first nation’s local revenues
Short-term pooled investment funds
(2) Funds in a short-term pooled investment fund may be invested only in
(2) The annual report shall include the financial statements of the Authority and its auditor’s opinion on them.
“other aboriginal group”
« autre groupe autochtone »
“other aboriginal group” means an aboriginal group that was formerly a band under the Indian Act and that is a party to a treaty, land claim agreement or self-government agreement with Canada.
“respondent”
« intéressé »
“respondent” means a person in respect of whom, or in respect of whose activities, a report or information is sought or provided under this Part.
(2) The Chief Statistician of Canada shall be a member of the board of directors.
Appointment of other directors
(2) The board of directors shall be composed of men and women from across Canada, including members of first nations, who are committed to improving first nations statistical information and analysis and who have the experience or capacity to enable the Institute to fulfil its mandate.
(2) 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.
First Nations Chief Statistician
(2) The First Nations Chief Statistician shall be paid the remuneration determined by the Governor in Council.
(3) The board of directors shall determine the duties of other officers and employees and the conditions of their employment.
(4) The First Nations Chief Statistician may hire any other officers and employees that are necessary to conduct the work of the Institute.
(5) Persons hired under subsection (4) shall be paid salaries and benefits fixed by the board of directors.
(i) Indians and other members of first nations,
(ii) members of other aboriginal groups, and
(iii) other persons who reside on reserve lands or lands of other aboriginal groups;
(2) The Institute may collect, compile, analyze and abstract data for statistical purposes respecting any of the following matters as they relate to first nations, to reserve lands, to Indians and other members of first nations, to members of other aboriginal groups, and to other persons who reside on reserve lands or lands of other aboriginal groups:
(3) The Institute shall publish and make publicly available statistical information collected, compiled, analysed or abstracted under subsection (2) in a manner that does not permit the information to be related to any identifiable individual, business or organization.
(2) An agreement under subsection (1) shall provide that
(2) A department, body or corporation referred to in subsection (1) is not required to disclose any information that it is required to, or may, withhold under any federal law or under any privilege at law.
(3) The Institute shall enter into an agreement for the collection and use of information referred to in subsection (1) with the department, body or corporation from whose documents or records it is to be obtained.
(2) The First Nations Chief Statistician may authorize the following information to be disclosed:
(i) their names and addresses,
(ii) the telephone numbers at which they may be reached in relation to statistical matters,
(iii) the official language in which they prefer to be addressed in relation to statistical matters,
(iv) the products they produce, transport, store, purchase or sell, or the services they provide, in the course of their business, or
(v) the number of persons they employ, as a specified range.
(2) No person referred to in section 103 shall be required by an order of a court, tribunal or other body to give testimony in respect of any information referred to in subsection (1).
“institution”
« institution »
“institution” means the First Nations Tax Commission or the First Nations Financial Management Board.
Exclusion from federal public administration
(2) No person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of an institution.
2005, c. 9, ss. 115, 154(E).
Scope and contents of corporate plan
(2) The corporate plan of each institution shall encompass all of the businesses and activities of the institution and include a statement of
(3) 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.
(4) 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
(5) 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.
(6) Any amendment by an institution to its corporate plan or budget shall be submitted to the Minister for approval.
(2) 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
(3) An institution may cause internal audits to be conducted to assess compliance with subsections (1) and (2).
(4) 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).
(5) 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.
(6) The Minister may give directions respecting the preparation of financial statements, to supplement generally accepted accounting principles.
(2) A report under subsection (1) shall
(i) the financial statements are presented fairly, in accordance with generally accepted accounting principles, applied on a basis consistent with that of the preceding year,
(ii) 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
(iii) the transactions of the institution that have come to the auditor’s notice in the course of his or her examination for the report were carried out in accordance with this Act; and
Audit of quantitative information
(3) 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.
(4) Each institution shall submit its audited financial statements to the Minister at least 30 days before the day of its annual meeting.
(2) 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.
(3) 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.
(4) 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.
(2) The report of an examiner shall include
(3) 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.
(2) 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
(2) 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.
(2) An audit committee shall
Auditor’s or examiner’s attendance
(3) 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.
(4) 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.
(5) 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
(2) 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
(2) An institution shall, at least 30 days before the annual meeting, publish a notice in a major newspaper setting out the time and location of the meeting and specifying that the institution’s annual report may be accessed on an Internet website to be maintained by the institution.
(3) At the annual meeting, the board of directors shall ensure that
(2) No person referred to in subsection (1) shall accept or hold any office or employment that is inconsistent with that person’s duties or take part in any matter involving the commission, board, authority or institute in which that person has an interest.
(3) All persons appointed to a commission, board or institute established under this Act shall comply with the Conflict of Interest Act as though they were public office holders as defined in that Act.
2005, c. 9, s. 132; 2006, c. 9, s. 8.
(2) The First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Statistical Institute shall maintain in good standing at all times the insurance coverage required by any regulations made under paragraph 140(b).
Conflict with other first nation laws
(2) 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.
(2) Where there is a significant demand for services in a particular official language, the First Nations Financial Management Board and First Nations Finance Authority shall offer services in that language.
PART 8
TRANSITIONAL PROVISIONS, CONSEQUENTIAL AMENDMENTS, COORDINATING AMENDMENTS AND COMING INTO FORCE
(2) 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 existing by-laws
(2) For greater certainty, subsections 5(2) to (7) apply to amendments of by-laws referred to in subsection (1).
* [Note: Section 154 in force on assent March 23, 2005; Act, other than section 154, in force April 1, 2006, see SI/2006-59.]
(Subsections 2(1) and (3))
| Adams Lake Indian Band |
| Aitchelitz First Nation |
| ?Akisq’nuk First Nation |
| Alexander First Nation |
| Beaver Lake Cree Nation |
| Chawathil First Nation |
| Chehalis Indian Band |
| Chemainus First Nation |
| Chippewas of Georgina Island First Nation |
| Chippewas of Kettle and Stony Point First Nation |
| Elsipogtog First Nation |
| Gitsegukla First Nation |
| Indian Island First Nation |
| Kahkewistahaw First Nation |
| Kamloops Indian Band |
| Kitselas First Nation |
| Kwaw-Kwaw-Apilt First Nation |
| Leq’á:mel First Nation |
| Lower Kootenay Indian Band |
| Lower Nicola Indian Band |
| Matsqui First Nation |
| Metepenagiag Mi’kmaq Nation |
| Moricetown Indian Band |
| Mosquito, Grizzly Bear’s Head, Lean Man First Nation |
| Muskeg Lake Cree Nation |
| Nanoose First Nation |
| Neskonlith Indian Band |
| Osoyoos Indian Band |
| Popkum First Nation |
| Seabird Island Band |
| Shuswap First Nation |
| Shxwhá:y Village First Nation |
| Shxw’ow’hamel First Nation |
| Simpcw First Nation |
| Skawahlook First Nation |
| Skeetchestn Indian Band |
| Skowkale First Nation |
| Sliammon First Nation |
| Songhees First Nation |
| Squamish Nation |
| Squiala First Nation |
| St. Mary’s First Nation |
| Sumas First Nation |
| Thunderchild First Nation |
| Tla-o-qui-aht First Nations |
| Tobacco Plains Indian Band |
| Tobique First Nation |
| Tsawout First Nation |
| Tsawwassen First Nation |
| Tsleil-Waututh Nation (also known as Burrard Indian Band) |
| Tzeachten First Nation |
| We Wai Kai Nation |
| White Bear First Nation |
| Yakweakwioose First Nation |
2005, c. 9, Sch.; SOR/2007-276, s. 1; SOR/2008-264; SOR/2009-25, 284.