First Nations Fiscal Management Act Adaptation Regulations — 7
ping of the records or documents. Co-Management Copy of order 10 (1) If an order is made under paragraph 52(2)(e), 52.1(2)(e) or 52.2(2)(e) of the Act requiring that cheques be co-signed by a manager, the Board or the manager shall provide a copy of the order to each financial institution with which the First Nation or Indigenous group has any ongoing financial arrangements. Revocation of order (2) If an order referred to in subsection (1) is revoked by the Board, the Board or a manager shall provide a copy of the revocation to each financial institution referred to in that subsection. Third-Party Management Notice to financial institutions 11 (1) If the Board assumes third-party management, the Board or a manager shall provide, to each financial institution with which the First Nation or Indigenous group has any ongoing financial arrangements, a copy of the notice of assumption of third-party management given by the Board to the council of the First Nation or to the Indigenous group. Signatories (2) The Board or a manager may, by written notice to a financial institution, authorize one or more individuals to act as signatory for a manager for the purposes of subsection (1) and establish the number of signatories required for any purpose. Notice of termination of third-party management (3) If third-party management is terminated by the Board, the Board or a manager shall provide a copy of the notice of termination to each financial institution referred to in subsection (1). Application of Act and regulations to Board 12 For greater certainty, nothing in these Regulations exempts the Board, while acting in the place of the council of a First Nation under paragraph 53(2)(a) or (b) or 53.1(2)(a) or (b) of the Act or in the place of a governing body of an Indigenous group under paragraph 53.2(2)(a) or (b) of the Act, from complying with any of the requirements applicable to the council of the First Nation or to the Indigenous group under the Act and any regulations made under it. Notice of law-making 12.1 (1) Before making a law under paragraph 53.2(2)(a) of the Act in relation to an Indigenous group named in Schedule 2 to the First Nations Fiscal Management Act Adaptation Regulations , the Board shall give 30 days’ written notice to the Indigenous group, the First Nations Finance Authority and the First Nations Tax Commission, accompanied by a copy of the proposed law, an indication of the timing of the making of the law and the reasons that the Board intends to make the law. Exception (2) Subsection (1) does not apply if the Board is of the opinion that giving the notice would obstruct its ability to take timely and necessary actions to remedy the situation for which third-party management was required. Written representations (3) Within 15 days after the day on which the notice is received or any longer period permitted by the Board, the Indigenous group may make written representations to the Board regarding the proposed law and its timing. Conditions for law-making (4) Before making the law, the Board shall (a) consider any representations made by the Indigenous group; (b) ensure that the requirements of this section are met; and (c) in the case of a law respecting financial administration, ensure that the law complies, in all material respects, with the standards established under paragraph 55(1)(a.1) of the Act. Meeting of board of directors (5) The making of the law shall take place at a meeting of the board of directors of the Board, held in accordance with the board of directors’ rules. Making of law (6) The making of the law shall be effected by the passing of a resolution. Copy to Indigenous group (7) No later than 15 days after the day on which the law is made, the Board shall provide the Indigenous group with a certified copy of the resolution and a copy of the law. Certification Powers of the Board Scope of implementation 13 The implementation of a co-management arrangement or third-party management in respect of a