Source: http://www.fntc.ca/index.php/fr/fr/fr/dmdocuments/FlipPub/CTP2012-March/fr/index.php?option=com_content&view=article&id=23&Itemid=19&lang=en
Timestamp: 2013-05-19 00:09:48
Document Index: 574185656

Matched Legal Cases: ['ART 1', 'ART 2', 'art 1', 'ART 3', 'ART 4', 'ART 5', 'art.\n94', 'ART 6', 'ART 7', 'ART 8']

First Nations Fiscal Management Act
First Nations Fiscal Management Act	About FNTC	First Nations Fiscal Management Act
2005, c. 9
F-11.67
[Assented to March 23rd, 2005]
2. (1) The following definitions apply in this Act. "borrowing member" «membre emprunteur »
"borrowing member" means a first nation that has been accepted as a borrowing member under subsection 76(2) and has not ceased to be a borrowing member under section 77.
"council" «conseil de la première nation »
"council" has the same meaning as “council of the band” in subsection 2(1) of the Indian Act.
"first nation" «première nation »
"first nation" means
"First Nations Finance Authority" «Administration financière des premières nations »
"First Nations Finance Authority" means the corporation established under section 58.
"First Nations Financial Management Board" «Conseil de gestion financière des premières nations »
"First Nations Financial Management Board" means the board established under subsection 38(1).
"First Nations Gazette" «Gazette des premières nations »
"First Nations Gazette" means the publication published under section 34.
"First Nations Statistical Institute" «Institut de la statistique des premières nations »
"First Nations Statistical Institute" means the institute established under section 91.
"First Nations Tax Commission" «Commission de la fiscalité des premières nations »
"First Nations Tax Commission" means the commission established under subsection 17(1).
"local revenue law" «texte législatif sur les recettes locales »
"local revenue law" means a law made under subsection 5(1).
"local revenues" «recettes locales »
"local revenues" means moneys raised under a local revenue law.
"Minister" «ministre »
"Minister" means the Minister of Indian Affairs and Northern Development.
"property taxation law" «texte législatif relatif à l’imposition foncière »
"property taxation law" means a law made under paragraph 5(1)(a).
"third-party management" «Version anglaise seulement »
"third-party management" means the management of a first nation’s local revenues under section 53.
(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. Amendments to schedule
PART 1 - FIRST NATIONS FISCAL POWERS
(2) A law made under subsection (1) does not have any force or effect until it is approved by the First Nations Tax Commission. Coming into force
(5) A property taxation law shall provide that, if the First Nations Financial Management Board gives notice to the first nation that third-party management of the first nation’s local revenues is required, the Board may act as agent of the first nation to fulfil any of the powers and obligations of the council under the property taxation law, this Act and any regulations made under this Act. Special levy
(6) A property taxation law of a borrowing member shall provide that the borrowing member must make a law under paragraph (1)(a) in order to recover amounts payable under paragraph 84(5)(b). Assignment of right or interest
(7) Notwithstanding the Indian Act or any instrument conferring a right or interest in reserve lands, if there are outstanding taxes payable pursuant to a law made under paragraph (1)(a) for more than two years, the first nation may assign the right or interest in accordance with the conditions and procedures prescribed by regulation. Judicial notice
(8) In any proceedings, judicial notice may be taken of a local revenue law. Statutory Instruments Act
(9) The Statutory Instruments Act does not apply in respect of local revenue laws or laws made under section 9. Notice of proposed laws
(2) The First Nations Tax Commission may exempt a first nation from the requirements of subsection (1) in respect of an amendment of a law if the Commission considers that the amendment is not significant. Content of notice
(4) Before making a law under any of paragraphs 5(1)(a) to (c), the council of a first nation shall consider any representations that were made in accordance with paragraph (3)(c) or at a meeting referred to in paragraph (3)(d). Further representations
(2) The First Nations Tax Commission may exempt a first nation from the requirements of subsection (1) in respect of an amendment of a property taxation law if the Commission considers that the amendment is not significant. Accompanying information
(4) A law made under paragraph 5(1)(b), (d) or (e) that is submitted to the First Nations Tax Commission for approval shall be accompanied by evidence that it was duly made by the council. Additional information on request
(2) A law made under subsection (1) by a borrowing member, including any amendment of such a law, does not have any force or effect until it is approved by the First Nations Financial Management Board. Coming into force
(4) A law made under subsection (1) that is submitted to the First Nations Financial Management Board for approval shall be accompanied by evidence that it was duly made by the council. Additional information on request
11. (1) A borrowing member shall not repeal a property taxation law. Priority to Authority
(2) A law made under paragraph 5(1)(b) by a borrowing member shall not authorize the expenditure of local revenues unless the borrowing member’s budget provides for the payment of all amounts payable to the First Nations Finance Authority during the budget period. Financial commitment
(3) The borrowing member shall, in every year, reserve such local revenues as are required to ensure that all amounts authorized to be paid to the First Nations Finance Authority in the year are actually paid in that year. Legal capacity of first nations
13. (1) Local revenues of a first nation shall be placed in a local revenue account, separate from other moneys of the first nation. Restriction on expenditures
(2) Local revenues may be expended only under the authority of a law made under paragraph 5(1)(b). Balanced budget
(3) Expenditures provided for in a law made under paragraph 5(1)(b) shall not exceed the local revenues estimated for the year in which those expenditures are to be made, less any deficit accumulated from prior years. Audit
14. (1) The local revenue account shall be audited at least once each calendar year and reported on separately from other accounts. Access to report
PART 2 - FIRST NATIONS TAX COMMISSION
"Commission" «Commission »
"Commission" means the First Nations Tax Commission.
"taxpayer" «contribuable »
"taxpayer" means a person paying tax under a property taxation law.
17. (1) There is hereby established a commission, to be known as the First Nations Tax Commission, consisting of 10 commissioners, including a Chief Commissioner and Deputy Chief Commissioner. Capacity, rights, powers and privileges
18. (1) The Commission is an agent of Her Majesty only for the approval of local revenue laws. Savings
(2) For the purpose of subsection (1), the issuance of a certificate referred to in paragraph 32(2)(b) is deemed not to be an approval of a local revenue law. Appointment of Chief Commissioner
19. (1) On the recommendation of the Minister, the Governor in Council shall appoint a Chief Commissioner and Deputy Chief Commissioner. Tenure
(2) The Chief Commissioner and Deputy Chief Commissioner hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause. Appointment of commissioners
20. (1) On the recommendation of the Minister, the Governor in Council shall appoint four commissioners to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause. Appointment of commissioners
(2) On the recommendation of the Minister, the Governor in Council shall appoint three additional commissioners — one of whom shall be a taxpayer using reserve lands for commercial, one for residential and one for utility purposes — to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause. Appointment of additional commissioner
(3) A body prescribed by regulation shall appoint an additional commissioner to hold office during pleasure for a term not exceeding five years. Staggered terms
(4) In determining the term of appointment of commissioners, the Governor in Council shall endeavour to ensure that the terms of no more than three commissioners expire in any one calendar year. Qualifications
(5) The Commission shall be composed of men and women from across Canada, including members of first nations, who are committed to the development of a system of first nations real property taxation and who have the experience or capacity to enable the Commission to fulfil its mandate. Status
23. (1) Commissioners shall be paid the remuneration determined by the Governor in Council. Expenses
(2) The Chief Commissioner shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from his or her ordinary place of work. Other Commissioners shall be reimbursed for such expenses incurred in performing duties while absent from their ordinary place of residence. Chief Commissioner — functions
26. (1) The head office of the Commission shall be on the reserve lands of the Kamloops Band or at any other location that the Governor in Council determines. Additional office
(2) The Commission shall maintain an additional office in the National Capital Region described in the schedule to the National Capital Act. Rules of procedure
(2) Persons hired under subsection (1) shall be paid the salaries and benefits fixed by the Commission. Purposes
31. (1) The Commission shall review every local revenue law. Written submissions
(2) Before approving a local revenue law, the Commission shall consider, in accordance with any regulations made under paragraph 36(1)(b), any representations made to it under paragraph 7(b) in respect of the law by members of the first nation or others who have interests in the reserve lands of the first nation or rights to occupy, possess or use those lands. Local revenue law approval
(3) Subject to section 32, the Commission shall approve a local revenue law that complies with this Act and with any standards and regulations made under this Act. Registry
(4) The Commission shall maintain a registry of every law approved by it under this section and every financial administration law made under section 9. Restrictions
(3) If the Commission becomes aware that judicial review proceedings have been undertaken in respect of a law made by a first nation under paragraph 5(1)(d) for financing capital infrastructure for the provision of local services on reserve lands, the Commission shall without delay inform the First Nations Finance Authority of those proceedings. Certificate is evidence
(4) A certificate referred to in paragraph (2)(b) is, in the absence of evidence to the contrary, conclusive evidence in any judicial proceedings of the facts contained in it. Review on request
(2) If the Commission is of the opinion that a first nation has not complied with this Part or Part 1 or with a regulation made under either Part or section 141 or 142 or that a law has been unfairly or improperly applied, it shall conduct a review of the matter in accordance with the regulations. Remedy
34. (1) All local revenue laws approved by the Commission and all standards and procedures established by the Commission under section 35 shall be published in the First Nations Gazette. Frequency of publication
(2) The Commission shall publish the First Nations Gazette at least once in each calendar year. Standards and Procedures
(3) The Statutory Instruments Act does not apply to a standard established under subsection (1) or a procedure established under subsection (2). Regulations
(2) Regulations made under paragraph (1)(a) may vary from province to province. Authority to vary
(4) In the event of an inconsistency between a law made under subsection 5(1) and regulations made under subsection (1), the regulations prevail to the extent of the inconsistency. PART 3 - FIRST NATIONS FINANCIAL MANAGEMENT BOARD
Definition of "Board"
37. In this Part, "Board" means the First Nations Financial Management Board.
38. (1) There is hereby established a board, to be known as the First Nations Financial Management Board, to be managed by a board of directors consisting of a minimum of nine and a maximum of 15 directors, including a Chairperson and Vice-Chairperson. Capacity, rights, powers and privileges
41. (1) The Governor in Council, on the recommendation of the Minister, shall appoint a minimum of five, and a maximum of eleven, other directors to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause. Appointment by AFOA
(2) The Aboriginal Financial Officers Association of Canada, or any other body prescribed by regulation, shall appoint up to three additional directors to hold office during pleasure for a term not exceeding five years. Staggered terms
(3) In determining the term of appointment of directors, the Governor in Council shall endeavour to ensure that the terms of no more than three directors expire in any one calendar year. Qualifications
(4) The board of directors shall be composed of men and women from across Canada, including members of first nations, who are committed to the strengthening of first nation financial management and who have the experience or capacity to enable the Board to fulfil its mandate. Election of Vice-Chairperson
42. (1) The board of directors shall elect a Vice-Chairperson from among the directors. Functions
(2) In the event of the absence or incapacity of the Chairperson, or if the office of Chairperson is vacant, the Vice-Chairperson shall assume the duties and functions of the Chairperson. Reappointment
45. (1) Directors shall be paid the remuneration determined by the Governor in Council. Expenses
(2) Directors shall be reimbursed for reasonable travel and other expenses incurred in performing duties while absent from their ordinary place of residence. Rules of procedure
(2) Persons hired under subsection (1) shall be paid the salary and benefits fixed by the board of directors. Purposes
50. (1) On the request of the council of a first nation, the Board may review the first nation’s financial management system or financial performance for compliance with the standards established under subsection 55(1). Report
(3) If after completing a review under subsection (1) the Board is of the opinion that the first nation was in compliance with the standards, it shall issue to the first nation a certificate to that effect. Revocation of certificate
(4) The Board may, on giving notice to a council, revoke a certificate issued under subsection (3) if, on the basis of financial or other information available to the Board, it is of the opinion that the basis upon which the certificate was issued has materially changed. Form and content
(5) The Board may determine the form and content of certificates issued under subsection (3), including any restrictions as to the purposes for which, and the persons by whom, they are intended to be used. Remedial measures required
(6) If a borrowing member’s certificate is revoked, the borrowing member shall, without delay, take any measures required to re-establish its certification. Opinion final
(7) An opinion of the Board referred to in this section is final and conclusive and is not subject to appeal. Required intervention
(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 a co-management arrangement. Third-party management
(3) The Board shall not make a law under paragraph 5(1)(f) that delegates a power to a person or body to whom a power was not delegated at the time the Board assumed third-party management of the local revenues of a first nation, unless the council of the first nation gives its consent. Prohibition
(4) The council of the first nation shall not, during the time that the board assumes third-party management of the first nation’s local revenues, repeal any law made under paragraph 5(1)(g). Review every six months
(5) Where the Board has assumed third-party management of a first nation’s local revenues, it shall review the need for third-party management at least once every six months and advise the First Nations Finance Authority, the First Nations Tax Commission and the council of the first nation of the results of its review. Termination by Board
(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. Required information
(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. Regulations
PART 4 - FIRST NATIONS FINANCE AUTHORITY
"Authority" «Administra­tion »
"Authority" means the First Nations Finance Authority.
"investing member" «membre investisseur »
"investing member" means a first nation that has invested in a short-term investment pool managed by the Authority.
"long-term loan" «prêt à long terme »
"long-term loan" means a loan the term of which is one year or longer.
"member" «membre »
"member" means a borrowing member or investing member.
"property tax revenues" «recettes fiscales foncières »
"property tax revenues" means moneys raised under a law made under paragraph 5(1)(a).
"representative" «représentant »
"representative" , in respect of a first nation that is a member, means the chief or a councillor of the first nation who is designated as a representative by a resolution of its council.
"security" «titre »
"security" means a security of the Authority issued under paragraph 75(1)(b).
"short-term loan" «prêt à court terme »
"short-term loan" means a loan the term of which is less than one year.
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
2005, c. 9, ss. 60, 154(E).
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. Nomination of directors
(3) Directors shall be elected by representatives of borrowing members. Function of Deputy Chairperson
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
66. (1) The Canada Corporations Act does not apply to the Authority. Canada Business Corporations Act
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. Annual general meeting
(4) The Authority may issue securities the principal amounts of which, after payment of any discount and the costs of issue and sale, will realize the net amount authorized by the board of directors in a resolution made under paragraph (1)(a). Declaration conclusive
(5) A declaration in a resolution authorizing the issuance of securities that it is necessary to issue securities in the principal amount authorized in order to realize the net amount authorized is conclusive evidence of that fact. Sale price
(6) The board of directors may sell securities at their par value or at other than par value. Delegation
(7) The board of directors may delegate its powers under this section to a committee of directors and officers of the Authority, subject to any limitations that the board of directors may impose. Application to become borrowing member
76. (1) A first nation may apply to the Authority to become a borrowing member. Criteria
(2) The Authority shall accept a first nation as a borrowing member only if the First Nations Financial Management Board has issued to the first nation a certificate under subsection 50(3) and has not subsequently revoked it. Ceasing to be a borrowing member
78. (1) The Authority has a priority over all other creditors of a first nation that is insolvent, for any moneys that are authorized to be paid to the Authority under a law made under paragraph 5(1)(b) or (d). Debts to the Crown
(2) For greater certainty, subsection (1) does not apply to Her Majesty. Limitations — infrastructure loans
82. (1) The Authority shall establish a sinking fund, or any other system of repayment prescribed by regulation, to fulfil its repayment obligations to the holders of each security issued by the Authority. Separate accounts
(2) Where a sinking fund is established, a separate sinking fund account shall be kept for each borrowing member participating in a security issued by the Authority. Sinking fund investments
(2) The Authority may recover fees payable by a borrowing member from any surplus to be distributed to that member under paragraph (1)(b). Debt reserve fund
84. (1) The Authority shall establish a debt reserve fund to make payments or sinking fund contributions for which insufficient moneys are available from borrowing members. Provisioning of fund
(2) Subject to the regulations, the Authority shall withhold 5% of the amount of any long-term loan to a borrowing member for financing capital infrastructure for the provision of local services on reserve lands and deposit that amount in the debt reserve fund. Separate account
(3) A separate account shall be kept for each security issued and for each borrowing member contributing to the debt reserve fund. Investments
(4) The funds of the debt reserve fund may be invested only in securities, investments or deposits referred to in paragraph 82(3)(a), (c) or (d) that mature or are callable within five years, 25% of which must be callable within 90 days. Liability for shortfall
(6) Money contributed by a borrowing member to the debt reserve fund and investment income received on it shall be repaid by the Authority to the borrowing member when all obligations in respect of the security in respect of which the money was contributed have been satisfied. Credit enhancement fund
85. (1) The Authority shall establish a fund for the enhancement of the Authority’s credit rating. Investments
(2) The funds of the credit enhancement fund may be invested only in securities, investments or deposits referred to in paragraph 82(3)(a), (c) or (d) that mature or are callable within five years, 25% of which must be callable within 90 days. Investment income
(2) If a failure referred to in subsection (1) relates to an obligation other than payment, the Authority may require that the First Nations Financial Management Board review and report on the reasons for the failure. Report
(3) On receipt of a notice referred to in paragraph (1)(b) in respect of a failure related to an obligation other than payment, the First Nations Financial Management Board shall advise the Authority in writing of its opinion on the reasons for the failure and recommend any intervention under section 52 or 53 that it considers appropriate. Required intervention
87. (1) The Authority may establish short-term pooled investment funds. Investments
88. (1) The Chairperson shall, within four months after the end of each fiscal year, submit to the Authority’s members and the Minister a report of the operations of the Authority for that fiscal year. Contents
(2) The annual report shall include the financial statements of the Authority and its auditor’s opinion on them. Regulations
PART 5 - FIRST NATIONS STATISTICAL INSTITUTE
"Institute" «Institut »
"Institute" means the First Nations Statistical Institute.
"other aboriginal group" «autre groupe autochtone »
"other aboriginal group" means an aboriginal group that was formerly a band under the Indian Act and that is a party to a treaty, land claim agreement or self-government agreement with Canada.
"respondent" «intéressé »
"respondent" means a person in respect of whom, or in respect of whose activities, a report or information is sought or provided under this Part.
94. (1) The Institute shall be managed by a board of directors, consisting of 10 to 15 directors, including the Chairperson and Vice-Chairperson. Ex officio director
(2) The Chief Statistician of Canada shall be a member of the board of directors. Appointment of Chairperson
97. (1) In determining the term of appointment of directors, the Governor in Council shall endeavour to ensure that the terms of no more than three directors expire in any one calendar year. Qualifications
(2) The board of directors shall be composed of men and women from across Canada, including members of first nations, who are committed to improving first nations statistical information and analysis and who have the experience or capacity to enable the Institute to fulfil its mandate. Status
99. (1) The board of directors shall elect a Vice-Chairperson from among the directors. Functions
102. (1) On the recommendation of the Minister, the Governor in Council shall appoint a First Nations Chief Statistician to hold office during pleasure on a full-time basis for a term not exceeding five years. Remuneration
(2) The First Nations Chief Statistician shall be paid the remuneration determined by the Governor in Council. Staff
(3) The board of directors shall determine the duties of other officers and employees and the conditions of their employment. Staff
(4) The First Nations Chief Statistician may hire any other officers and employees that are necessary to conduct the work of the Institute. Salaries and benefits
(5) Persons hired under subsection (4) shall be paid salaries and benefits fixed by the board of directors. Oath of office
105. (1) In furtherance of the purposes set out in section 104, the Institute may enter into agreements with aboriginal and other governments and organizations. Particular powers
(3) The Institute shall publish and make publicly available statistical information collected, compiled, analysed or abstracted under subsection (2) in a manner that does not permit the information to be related to any identifiable individual, business or organization. Sharing of information
106. (1) The Institute may enter into an agreement with a first nation or other aboriginal group, federal department or agency, provincial department or agency, municipality, corporation or other organization for the sharing of information collected by or on behalf of either party and for its subsequent tabulation or publication. Agreement
107. (1) Subject to subsection (2), documents or records relating to first nations, Indians or other members of first nations, or to members of other aboriginal groups, that are maintained by any department, body or corporation set out in any of Schedules I to III to the Financial Administration Act that is prescribed by regulation shall be disclosed to the Institute for the purposes of this Part in accordance with an agreement referred to in subsection (3). Exception
(2) A department, body or corporation referred to in subsection (1) is not required to disclose any information that it is required to, or may, withhold under any federal law or under any privilege at law. Agreement required
(3) The Institute shall enter into an agreement for the collection and use of information referred to in subsection (1) with the department, body or corporation from whose documents or records it is to be obtained. General
109. (1) Except for the purpose of conducting a prosecution under this Act, information obtained by the Institute that can be related to any identifiable individual, business, organization or first nation is privileged and shall not be used as evidence in a legal proceeding. No compulsion to produce
(2) No person referred to in section 103 shall be required by an order of a court, tribunal or other body to give testimony in respect of any information referred to in subsection (1). Powers of Statistics Canada
PART 6 - FINANCIAL MANAGEMENT AND CONTROL
"board of directors" «conseil d’administra­tion »
"board of directors" includes
"institution" «institution »
"institution" means the First Nations Tax Commission or the First Nations Financial Management Board.
115. (1) The officers and employees of an institution are not part of the federal public administration. No guarantees
2005, c. 9, ss. 115, 154(E).
118. (1) Each institution shall, in accordance with any directions given by the Minister, establish a corporate plan and budget for each financial year and submit them to the Minister for approval. Scope and contents of corporate plan
(3) The budget of each institution must include a statement of the institution’s projected revenues and expenses for the financial year on account of capital and operations. Form of corporate plan
(4) The corporate plan of each institution shall be prepared in a form that clearly sets out information according to the major businesses or activities of the institution. Restriction on business or activity
(5) No institution may carry on any business or activity in any financial year in a manner that is not consistent with its corporate plan for that year. Amendment
(6) Any amendment by an institution to its corporate plan or budget shall be submitted to the Minister for approval. Books and systems
(3) An institution may cause internal audits to be conducted to assess compliance with subsections (1) and (2). Financial statements
(4) Each institution shall annually prepare financial statements, in accordance with generally accepted accounting principles, as supplemented by any directions given by the Minister under subsection (6). Form of financial statements
(5) The financial statements of an institution shall be prepared in a form that clearly sets out information according to the major businesses or activities of the institution. Directions
(6) The Minister may give directions respecting the preparation of financial statements, to supplement generally accepted accounting principles. Annual auditor’s report
(3) The Minister may require that any quantitative information required to be included in an institution’s annual report pursuant to paragraph (2)(a) be audited. Presentation to Minister
(4) Each institution shall submit its audited financial statements to the Minister at least 30 days before the day of its annual meeting. Special examination
121. (1) Each institution shall, at least once every five years and at any other time required by its board of directors or by the Minister, cause a special examination to be carried out in respect of its operations to determine if the books, records, systems and practices referred to in section 119 were, in the period under examination, maintained in a manner that met the requirements of that section. Plan
(2) Before commencing a special examination, an examiner shall survey the systems and practices of the institution to be examined and submit a plan for the examination, including a statement of the criteria to be applied in the examination, to the audit committee of the institution. Resolution of disagreements
(3) Any disagreement between the examiner and the audit committee or board of directors of an institution with respect to a plan referred to in subsection (2) shall be resolved by the Minister. Reliance on internal audit
(4) An examiner shall, as far as is practica­ble, rely on any internal audit conducted pursuant to subsection 119(3) in respect of the institution being examined. Report
122. (1) An examiner shall, on completion of a special examination in respect of an institution, submit a report on his or her findings, and a summary of that report, to the Minister and to the board of directors of the institution. Contents
(3) An institution shall, as soon as possible after receipt of an examiner’s report, post a summary of the report on an Internet website maintained by the institution. Examiner
123. (1) Subject to subsection (2), a special examination shall be carried out by the auditor of the institution. Other auditor
(2) If, in the opinion of the Minister, a person other than the auditor of an institution should carry out a special examination in respect of the institution, the Minister may, after consulting with the board of directors of the institution, direct that the examination be carried out by another auditor who is qualified for the purpose. Consultation with Auditor General
125. (1) At the request of the auditor or examiner of an institution, the present or former commissioners, directors, officers, employees or agents of the institution shall provide any information and explanations, and give access to any records, documents, books, accounts and vouchers of the institution that are under their control, that the auditor or examiner considers necessary to prepare a report required under this Act. Obligation to inform
(2) If a commissioner or director of an institution does not have information or an explanation requested by an auditor or examiner under subsection (1), the commissioner or director shall obtain the information or explanation and provide it to the auditor or examiner. Restriction
128. (1) Each institution shall establish an audit committee composed of not less than three commissioners or directors who are not officers of the institution and who are competent to perform the duties set out in subsection (2). Duties
(3) An auditor and any examiner of an institution are entitled to receive notice of every meeting of the audit committee and, at the expense of the institution, to attend and be heard at each meeting. Required attendance
(4) The auditor or examiner of an institution shall attend any meeting of the institution’s audit committee at which he or she is requested to attend by a member of that committee. Calling meeting
(5) The auditor or examiner of an institution or a member of the institution’s audit committee may call a meeting of that committee. Disclosure of material developments
130. (1) Each institution shall, within four months after the end of each financial year, submit to the Minister an annual report on the operations of the institution in that year. Form and contents
131. (1) The board of directors of an institution shall call an annual meeting not later than 18 months after the institution is established and subsequently not later than 15 months after the preceding annual meeting. Notice of meeting
(2) An institution shall, at least 30 days before the annual meeting, publish a notice in a major newspaper setting out the time and location of the meeting and specifying that the institution’s annual report may be accessed on an Internet website to be maintained by the institution. Availability to public
PART 7 - PROVISIONS OF GENERAL APPLICATION
132. (1) No person who is appointed to, or is employed by, a commission, board, authority or institute established under this Act shall be appointed to, or be employed by, any other commission, board, authority or institute established under this Act. Conflict of interest
(2) No person referred to in subsection (1) shall accept or hold any office or employment that is inconsistent with that person’s duties or take part in any matter involving the commission, board, authority or institute in which that person has an interest. Conflict of interest
(3) All persons appointed to a commission, board or institute established under this Act shall comply with the Conflict of Interest Act as though they were public office holders as defined in that Act.
2005, c. 9, s. 132; 2006, c. 9, s. 8.
133. (1) No person has a right to receive any compensation, damages, indemnity or other relief from Her Majesty in right of Canada in respect of any claim against the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority or First Nations Statistical Institute arising from its exercise of, or its failure to exercise, any of the powers or functions of that Commission, Board, Authority or Institute, as the case may be, including any claim against the First Nations Tax Commission as an agent of Her Majesty in right of Canada. Insurance required
(2) The First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Statistical Institute shall maintain in good standing at all times the insurance coverage required by any regulations made under paragraph 140(b). No appropriation
138. (1) In the event of a conflict between a local revenue law and an Act of Parliament or any regulations made under an Act of Parliament or a code made by a first nation under another Act of Parliament, the Act, regulations or code prevails to the extent of the conflict. Conflict with other first nation laws
(2) In the event of a conflict between a law made by a first nation under this Act and a law, other than a code, made by the first nation under another Act of Parliament, the law made by the first nation under this Act prevails to the extent of the conflict. Official languages
139. (1) For greater certainty, the provisions of the Official Languages Act applicable to federal institutions apply to the First Nations Tax Commission and First Nations Statistical Institute. Official languages
(2) Where there is a significant demand for services in a particular official language, the First Nations Financial Management Board and First Nations Finance Authority shall offer services in that language. Regulations
PART 8 - TRANSITIONAL PROVISIONS, CONSEQUENTIAL AMENDMENTS, COORDINATING AMENDMENTS AND COMING INTO FORCE
143. (1) Persons who are employed by the Indian Taxation Advisory Board at the time that the First Nations Tax Commission is established shall be offered employment with the Commission, at the same salary and with equivalent terms and conditions of employment. Interim rules of procedure
(2) Until new rules are established by the First Nations Tax Commission, the Commission shall conduct itself in accordance with the rules of procedure established by the Indian Taxation Advisory Board. Continuation of directors
144. Persons who are directors of the First Nations Finance Authority Inc., a corporation incorporated under the Canada Business Corporations Act, on the day on which section 58 comes into force shall continue as directors of the First Nations Finance Authority until new directors are elected. Continuation of existing by-laws
145. (1) By-laws made by a first nation under paragraph 83(1)(a), or any of paragraphs 83(1)(d) to (g), of the Indian Act that are in force on the day on which the name of the first nation is added to the schedule are deemed to be laws made under section 5 or 9, as the case may be, to the extent that they are not inconsistent with section 5 or 9, and remain in force until they are repealed or replaced. Amendment of existing by-laws
(2) For greater certainty, subsections 5(2) to (7) apply to amendments of by-laws referred to in subsection (1). Review and evaluation
146. Within seven years after the day on which this Act receives royal assent, the Minister, after consultation with the First Nations Tax Commission, First Nations Financial Management Board, First Nations Finance Authority and First Nations Statistical Institute, shall review the provisions and operation of this Act and the operations of those institutions, and submit a report to each House of Parliament on that review, including any changes that the Minister recommends relating to the evolution of the mandate and operation of those institutions. Consequential Amendments
147. [Amendment]
148. [Amendment]
149. [Amendment]
150. [Amendment]
151. [Amendment]
152. [Amendment]
153. [Amendment]
154. [Amendments]
*155. The provisions of this Act, other than section 154, come into force on a day or days to be fixed by order of the Governor in Council. * [Note: Section 154 in force on assent March 23, 2005; Act, other than section 154, in force April 1, 2006, see SI/2006-59.] x. SCHEDULE
(Subsections 2(1) and (3))