First Nations Fiscal Management Act Adaptation Regulations — 5
ndigenous group from businesses wholly or partly owned by it, including dividends from shares owned by it, (v) transfers from a provincial, regional, municipal or local government to the Indigenous group, (vi) transfers from His Majesty in right of Canada to the Indigenous group if the agreement governing the transfer specifically permits the use of the transfer as security for a loan referred to in paragraph 74(b.1) and if any other applicable conditions are satisfied, and (vii) interest earned by the Indigenous group on deposits, investments or loans, other than interest held by His Majesty in right of Canada on the Indigenous group’s behalf. ( autres recettes ) property taxation law means a law made under paragraph 5(1)(a). ( texte législatif relatif à l’imposition foncière ) right , in relation to reserve lands in Quebec, means any right of any nature in or to the lands, including any right to occupy, possess or use the lands and any right of a lessee, but does not include title to the lands that is held by her Majesty. ( droit ) secured revenues trust account means an account established by the First Nations Finance Authority and a First Nation or Indigenous group in which other revenues to be used for financing under this Act are maintained. ( compte de recettes en fiducie garanti ) Indian Act definitions (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 . Extended meaning of “ borrowing member ” (2.1) For the purpose of sections 57, 59, 74, 77, 78, 83 and 84 and paragraph 89(c), borrowing member also means an organization referred to in paragraph 50.1(1)(e) that has been accepted as a borrowing member under a regulation made under section 141.1. Amendments to schedule (3) At the request of the council of a band, the Minister may, by order, amend the schedule in order to (a) add or change the name of the band; or (b) delete the name of the band, as long as there are no amounts owing by the band to the First Nations Finance Authority that remain unpaid. Regulations (3.1) The Governor in Council may make regulations prescribing anything that is to be prescribed under subparagraph (a)(xi) of the definition other revenues . For greater certainty (4) For greater certainty, nothing in this Act shall be construed as requiring capital assets for the provision of local services on reserve lands to be located on reserve lands. PART 1 First Nations Fiscal Powers Financial administration laws 4 The council of a First Nation may not make a law under paragraph 5(1)(d) or 8.1(1)(a) until the council has made a law respecting the financial administration of the First Nation under paragraph 9(1)(a) and that law has been approved by the First Nations Financial Management Board. Local revenue laws 5 (1) Subject to sections 4 and 6 and any regulations made under paragraph 36(1)(d), the council of a First Nation may make laws (a) respecting taxation for local purposes of reserve lands and interests or rights in reserve lands, including (i) the assessment of the value of those lands and interests or 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 and interests or 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; (a.1) respecting the charging of fees for the provision of services or the use of facilities on reserve lands, or for a regulatory process, permit, licence or other authorization, in relation to water, sewers, waste management, animal control, recreation and transportation, as well as any other similar servi