First Nations Fiscal Management Act Adaptation Regulations — 7
venues and to its laws made under section 8.1 of the Act and provide the council of the First Nation with a remedial management plan to address the matters that contributed to the assumption of co-management or third-party management. Remedial management plan — other revenues of an Indigenous group (1.2) Within 60 days after requiring an Indigenous group to enter into a co-management arrangement in respect of the Indigenous group’s other revenues or assuming third-party management of its other revenues, the Board or a manager shall review the available information relating to the Indigenous group’s other revenues and to its laws respecting other revenues and provide the Indigenous group with a remedial management plan to address the matters that contributed to the assumption of co-management or third-party management. Content of plan (2) A remedial management plan may include a debt reduction plan, a budget or an expenditure plan. Continuing need (3) A remedial management plan shall indicate whether the Board is of the opinion that there is a continuing need for a co-management arrangement or third-party management. Report 17 The Board shall provide a written report of the results of each review required under subsection 53(5), 53.1(7) or 53.2(7) of the Act. Final report — First Nation 18 (1) Within six months after the termination of third-party management of a First Nation’s local revenues or other revenues, the Board or a manager shall provide the council of the First Nation with a written report that includes (a) a summary of any third-party management activities not previously reported on; (b) a summary or copy of all laws made by the Board acting in the place of the council of the First Nation under paragraph 53(2)(a) or 53.1(2)(a) of the Act; (c) a summary or copy of all agreements entered into or terminated by the Board in the course of implementing third-party management; (d) in the case of third-party management of the First Nation’s local revenues, a copy of the most recent audited financial report or the audited annual financial statements, as the case may be, that were made available to the Board under subsection 14(2) of the Act, and a statement of the revenues deposited to, and any expenditures from, the local revenue account, from the last day covered by the financial report or financial statements, as the case may be, to the most recent date possible; (d.1) in the case of third-party management of the First Nation’s other revenues, a copy of the most recent accounting information that was provided to the Board under section 14.1 of the Act, if applicable, and a statement of any deposits and expenditures of other revenues, from the last day covered by the accounting information to the most recent date possible; and (e) an update to the remedial management plan. Final report — Indigenous group (1.1) Within six months after the termination of third-party management of an Indigenous group’s other revenues, the Board or a manager shall provide the Indigenous group with a written report that includes (a) a summary of any third-party management activities not previously reported on; (b) a summary or copy of all laws made by the Board acting in the place of a governing body of the Indigenous group under paragraph 53.2(2)(a) of the Act; (c) a summary or copy of all agreements entered into or terminated by the Board in the course of implementing third-party management; (d) a copy of the most recent accounting information that was provided to the Board under section 15.3 of the Act, if applicable, and a statement of any deposits and expenditures of other revenues, from the last day covered by the accounting information to the most recent date possible; and (e) an update to the remedial management plan. Report (2) Within six months after the termination of co-management without assuming third-party management, the Board or a manager shall provide the council of the First Nation, or the Indigenous group, with a written rep