GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
First Nations Fiscal Management Act Adaptation Regulations — 52.1
Imposed co-management — other revenues of a First Nation 52.1 (1) 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, (a) 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 (b) if the Board has received a notice under subsection 86(5). Powers (2) Under the co-management arrangement, the Board may (a) recommend amendments to a law of the First Nation made under any of paragraphs 8.1(1)(a) or (b) or subsection 9(1); (b) recommend changes to the First Nation’s expenditures or budgets with respect to its other revenues; (c) recommend improvements to the First Nation’s financial management system with respect to its other revenues; (d) recommend changes to the delivery of programs and services that are paid for out of the First Nation’s other revenues; (e) 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 (f) 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. Termination by Board (3) 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 (a) 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; (b) 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; (c) the co-management arrangement is no longer required; or (d) third-party management of the First Nation’s other revenues is required. Opinion final (4) An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice (5) 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.
First Nations Fiscal Management Act Adaptation Regulations — 52.2
Imposed co-management — other revenues of an Indigenous group 52.2 (1) The Board may, on giving notice to an Indigenous group, require the Indigenous group to enter into a co-management arrangement in respect of the Indigenous group’s other revenues, including those that have not been used as security for a loan from the First Nations Finance Authority, (a) if, in the opinion of the Board, there is a serious risk that the Indigenous group will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues; or (b) if the Board has received a notice under subsection 86(5). Powers (2) Under the co-management arrangement, the Board may (a) recommend amendments to the Indigenous group’s borrowing laws or its laws respecting financial administration or the expenditure of other revenues; (b) recommend changes to the Indigenous group’s expenditures or budgets with respect to its other revenues; (c) recommend improvements to the Indigenous group’s financial management system with respect to its other revenues; (d) recommend changes to the delivery of programs and services that are paid for out of the Indigenous group’s other revenues; (e) order that expenditures of other revenues of the Indigenous group be approved by, or paid with cheques co-signed by, a manager appointed by the Board; and (f) with respect to other revenues, exercise any powers delegated to the Board under a law of the Indigenous group or under an agreement between the Indigenous group and the Board or the Indigenous group and the First Nations Finance Authority. Termination by Board (3) The Board may terminate the co-management arrangement on giving notice to the Indigenous group that the Board is of the opinion that (a) there is no longer a serious risk that the Indigenous group will default on an obligation to the First Nations Finance Authority relating to a loan secured by other revenues; (b) in the case of an Indigenous group that was in default of a payment obligation to the First Nations Finance Authority relating to a loan secured by other revenues, the Indigenous group has remedied the default; (c) the co-management arrangement is no longer required; or (d) third-party management of the Indigenous group’s other revenues is required. Opinion final (4) An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice (5) 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.
First Nations Fiscal Management Act Adaptation Regulations — 53
ents to the termination in writing; (c) 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 (d) 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. Opinion final (7) An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice (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.
First Nations Fiscal Management Act Adaptation Regulations — 53.1
te third-party management of a First Nation’s other revenues, on giving notice to the council of the First Nation, if (a) 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; (b) 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; (c) 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 (d) 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. Opinion final (9) An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice (10) 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.
First Nations Fiscal Management Act Adaptation Regulations — 53.2
ird-party management at least once every six months and advise the First Nations Finance Authority, the First Nations Tax Commission and the Indigenous group of the results of its review. Termination by Board (8) The Board may terminate third-party management of an Indigenous group’s other revenues, on giving notice to the Indigenous group, if (a) it is of the opinion that there is no longer a serious risk that the Indigenous group 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; (b) in the case of an Indigenous group 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 Indigenous group has remedied the default and the Authority consents to the termination in writing; (c) it is of the opinion that the situation for which third-party management of the Indigenous group’s other revenues was required has been remedied; or (d) 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. Opinion final (9) An opinion given by the Board under this section is final and conclusive and is not subject to appeal. Notice (10) The Board shall advise the First Nations Finance Authority and First Nations Tax Commission of the assumption or termination of third-party management of an Indigenous group’s other revenues.
First Nations Fiscal Management Act Adaptation Regulations — 54
Required information — First Nation 54 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.
First Nations Fiscal Management Act Adaptation Regulations — 54.1
Required information — Indigenous group 54.1 At the request of the Board, an Indigenous group shall provide to the Board any information about the Indigenous group’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 Indigenous group’s other revenues.
First Nations Fiscal Management Act Adaptation Regulations — 55
Standards 55 (1) The Board may establish standards, not inconsistent with the regulations, respecting (a) the form and content of laws made under section 9; (a.1) the content of Indigenous groups’ laws respecting financial administration; (a.2) in relation to Indigenous groups named in Schedule 1 to the First Nations Fiscal Management Act Adaptation Regulations , the content of their laws concerning notices to be given, representations to be considered and other procedural formalities to be respected before the Indigenous groups may make a law after receipt of an opinion referred to in subsection 15.1(4); (a.3) in relation to Indigenous groups named in Schedule 1 to the First Nations Fiscal Management Act Adaptation Regulations , the content of their laws concerning the delegation to the Board of the powers set out in subsection 53.2(2); (b) approvals of the Board under Part 1; (c) certification of First Nations and Indigenous groups under section 50; and (d) financial reporting under subsection 14(1). Procedures (2) The Board may establish procedures respecting (a) the submission for approval and approval of laws made under section 9; (a.1) the submission of a request for a review under subsection 15.1(1) and the provision of an opinion under subsection 15.1(4); (b) the issuance of a certificate under subsection 50(3); (c) the implementation or termination of a co-management arrangement or third-party management of a First Nation’s local revenues or other revenues; and (d) the implementation or termination of a co-management arrangement or third-party management of an Indigenous group’s other revenues. Statutory Instruments Act (3) The Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2). First Nations Gazette (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 .
First Nations Fiscal Management Act Adaptation Regulations — 55.1
Functions and powers 55.1 (1) The Board may, on matters within the scope of its purposes, collect, analyze, abstract and publish data for statistical purposes. No identifying information (2) The Board shall ensure that no First Nation, Indigenous group, 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). Exception (3) The Board is not required to comply with subsection (2) if the information is already in the public domain or the First Nation, Indigenous group, entity or individual to whom it relates consents to being identified.
First Nations Fiscal Management Act Adaptation Regulations — 55.2
Information sharing agreements 55.2 The Board may enter into agreements with a First Nation, Indigenous group, 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.
First Nations Fiscal Management Act Adaptation Regulations — 56
Regulations 56 The Governor in Council may, on the recommendation of the Minister made having regard to any representations by the Board, make regulations (a) 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 (b) 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.
First Nations Fiscal Management Act Adaptation Regulations — 56.1
Regulations 56.1 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 (a) adapting any provision of this Act or of any regulation made under this Act; and (b) restricting the application of any provision of this Act or of any regulation made under this Act.
First Nations Fiscal Management Act Adaptation Regulations — 57
Definitions 57 The following definitions apply in this Part. Authority means the First Nations Finance Authority. ( Administration ) investing member means a First Nation or Indigenous group that has invested in a short-term investment pool managed by the Authority. ( membre investisseur ) 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 means (a) in respect of a First Nation that is a member, the chief or a councillor of the First Nation who is designated as a representative by a resolution of its council; and (b) in respect of an Indigenous group that is a member, the person who is elected to, or is otherwise a member of, a governing body of the Indigenous group and is designated in writing by that governing body as the Indigenous group’s representative. ( représentant ) security means a security of the Authority issued under paragraph 75(1)(b). ( titre )
First Nations Fiscal Management Act Adaptation Regulations — First Nations Fiscal Management Act Adaptation Regulations
Authority means the First Nations Finance Authority. ( Administration )
First Nations Fiscal Management Act Adaptation Regulations — First Nations Fiscal Management Act Adaptation Regulations
investing member means a First Nation or Indigenous group that has invested in a short-term investment pool managed by the Authority. ( membre investisseur )
First Nations Fiscal Management Act Adaptation Regulations — First Nations Fiscal Management Act Adaptation Regulations
member means a borrowing member or investing member. ( membre )
First Nations Fiscal Management Act Adaptation Regulations — First Nations Fiscal Management Act Adaptation Regulations
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 )
First Nations Fiscal Management Act Adaptation Regulations — (a)
representative means (a) in respect of a First Nation that is a member, the chief or a councillor of the First Nation who is designated as a representative by a resolution of its council; and (b) in respect of an Indigenous group that is a member, the person who is elected to, or is otherwise a member of, a governing body of the Indigenous group and is designated in writing by that governing body as the Indigenous group’s representative. ( représentant )
First Nations Fiscal Management Act Adaptation Regulations — First Nations Fiscal Management Act Adaptation Regulations
security means a security of the Authority issued under paragraph 75(1)(b). ( titre )
First Nations Fiscal Management Act Adaptation Regulations — 58
Establishment 58 There is hereby established a non-profit corporation without share capital, to be known as the First Nations Finance Authority.
First Nations Fiscal Management Act Adaptation Regulations — 59
Membership 59 The members of the Authority shall be its borrowing members and investing members.
First Nations Fiscal Management Act Adaptation Regulations — 60
Not agent of Her Majesty 60 (1) 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 (2) No person shall give a guarantee on behalf of Her Majesty for the discharge of an obligation or liability of the Authority.
First Nations Fiscal Management Act Adaptation Regulations — 61
Board of Directors 61 (1) 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 (2) 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 (3) Directors shall be elected by representatives of borrowing members.
First Nations Fiscal Management Act Adaptation Regulations — 62
Function of Deputy Chairperson 62 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.
First Nations Fiscal Management Act Adaptation Regulations — 63
Term of office 63 (1) Directors shall hold office on a part-time basis for a term of one year. Additional terms (2) A director is eligible to be re-elected for a second or subsequent term of office. Ceasing to be director (3) A person ceases to be a director when (a) the person ceases to hold office as a chief or councillor of a First Nation that is a borrowing member; (a.1) the person ceases to be a member of a governing body of an Indigenous group that is a borrowing member; (b) the person’s designation as a representative of a First Nation that is a borrowing member is revoked by a resolution of the council of that First Nation; (b.1) the person’s designation as a representative of an Indigenous group that is a borrowing member is revoked in writing by the governing body that designated the person; or (c) the person is removed from office before the expiry of the term of the appointment by a special resolution of the board of directors.
First Nations Fiscal Management Act Adaptation Regulations — 64
Quorum 64 Two thirds of the directors constitute a quorum at any meeting of the board of directors.
First Nations Fiscal Management Act Adaptation Regulations — 65
Majority vote 65 Decisions by the board of directors shall be made by a majority vote of the directors present.
First Nations Fiscal Management Act Adaptation Regulations — 66
Canada Not-for-profit Corporations Act 66 (1) The Canada Not-for-profit Corporations Act does not apply to the Authority. 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: (a) subsection 15(1) (capacity of a natural person); (b) section 16 (by-law not required to confer powers on Authority, restriction on powers of Authority, and validity of acts of Authority); (c) subsection 21(1) (access to Authority’s records by members and creditors); (d) section 23 (corporate seal not needed to validate instrument); (e) 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); (f) subsection 105(1) (qualifications of directors); (g) subsection 108(2) (resignation of director); (h) section 110 (right of director to attend members’ meetings and statements by retiring directors); (i) subsection 114(1) (place of directors’ meetings); (j) section 116 (validity of acts of directors and officers); (k) section 117 (validity of directors’ resolutions not passed at meeting); (l) subsections 119(1) and (4) (liability of directors); (m) section 120 (conflict of interests of directors); (n) section 123 (directors’ dissents); (o) section 124 (directors’ indemnity); (p) section 155 (financial statements); (q) section 158 (approval of financial statements by directors); (r) section 159 (sending financial statements to members before annual meeting); (s) sections 161 and 162 (qualifications and appointment of auditor); (t) section 168 (rights and duties of auditor); (u) section 169 (examination by auditor); (v) section 170 (auditor’s right to information); (w) subsections 171(3) to (9) (duty and administration of audit committee and penalty for failure to comply); (x) section 172 (qualified privilege in defamation for auditor’s statements); and (y) subsections 257(1) and (2) (certificates of Authority as evidence).
First Nations Fiscal Management Act Adaptation Regulations — 67
Remuneration of directors 67 Directors shall be paid a fee for attendance at meetings of the board of directors, as fixed by the by-laws of the Authority.
First Nations Fiscal Management Act Adaptation Regulations — 68
Duty of care 68 (1) The directors and officers of the Authority in exercising their powers and performing their duties shall (a) act honestly and in good faith with a view to the best interests of the Authority; and (b) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances. Limit of liability (2) Directors and officers are not liable for a failure to comply with subsection (1) if they rely in good faith on (a) 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 (b) 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.
First Nations Fiscal Management Act Adaptation Regulations — 69
President 69 (1) The board of directors shall appoint a President to act as the chief executive officer of the Authority. Other staff (2) The President may employ any other officers and employees that are necessary to conduct the work of the Authority.