Marginal note:Required information
54. At the request of the Board, a first nation that has made a local revenue law 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.
Standards and Procedures
55. (1) The Board may establish standards, not inconsistent with the regulations, respecting
(a) the form and content of laws made under section 9;
(b) approvals of the Board under Part 1;
(c) certification of first nations under section 50; and
(d) financial reporting under subsection 14(1).
(2) The Board may establish procedures respecting
(a) the submission for approval and approval of laws made under section 9;
(b) the issuance of a certificate under subsection 50(3); and
(c) the implementation or termination of a co-management arrangement or third-party management of a first nation’s local revenues.
Marginal note: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).
Marginal note: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.
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, 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.
PART 4FIRST NATIONS FINANCE AUTHORITY
57. The following definitions apply in this Part.
« Administration »
“Authority” means the First Nations Finance Authority.
« membre investisseur »
“investing member” means a first nation that has invested in a short-term investment pool managed by the Authority.
« prêt à long terme »
“long-term loan” means a loan the term of which is one year or longer.
« 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).
« 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.
« titre »
“security” means a security of the Authority issued under paragraph 75(1)(b).
« prêt à court terme »
“short-term loan” means a loan the term of which is less than one year.
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