First Nations Fiscal Management Act
Marginal note:Local revenue account
13 (1) Local revenues of a first nation shall be placed in a local revenue account with a financial institution, separate from other moneys of the first nation.
Marginal note:Restriction on expenditures
(2) Local revenues may be expended only under the authority of a law made under paragraph 5(1)(b).
Marginal note: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.
- 2005, c. 9, s. 13
- 2015, c. 36, s. 184
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