First Nations Fiscal Management Act Adaptation Regulations — 5
 those charges to be paid by each borrowing member. PART 5 Payment of Moneys Council resolution 90 (1) The council of a First Nation may submit to the Minister a resolution of the council requesting the payment to the First Nation of (a) moneys held by Her Majesty for the use and benefit of the First Nation; and (b) moneys to be collected or received in future by Her Majesty for the use and benefit of the First Nation. Information to accompany resolution (2) The resolution shall be accompanied by proof that (a) 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; (b) 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 (c) the payment of the moneys to the First Nation has been approved under section 91. Approval by members 91 (1) 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 (2) 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 (3) 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 (4) 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 (a) their right to vote and the means of exercising that right; (b) the fact that council has obtained the legal and financial advice referred to in subsection (3); (c) the implications of the payment of the moneys and the reasons why the payment is for the benefit of the First Nation; and (d) the fact that the council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a). Majority approval (5) 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 (6) Despite subsection (5), the payment is not approved unless at least 25% of all eligible voters participated in the vote. Increased percentage (7) The council may, by resolution adopted before the vote, increase the percentage of eligible voters required under subsection (6). Initial payment of moneys 92 (1) 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 (a) 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; (b) 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 (c) the payment of the moneys to the First Nation has been approved under section 91. Subsequent payment (2) 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 (3) 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 o