First Nations Fiscal Management Act

Marginal note:Financial administration laws

• 9 (1) Subject to subsections (2) and (3), the council of a first nation may make laws

  • (a) respecting the financial administration of the first nation; and

  • (b) delegating to any person or body its powers to make laws under paragraph (a).

• Marginal note:Approval required

  (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.

• Marginal note:Coming into force

  (3) A law made under subsection (1) comes into force on the latest of

  • (a) the day on which it is made,

  • (b) the day of coming into force set out in the law, and

  • (c) in the case of a law or amendment made by a borrowing member, the day after it is approved by the First Nations Financial Management Board.

• Marginal note:Evidence law duly made

  (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.

• Marginal note:Additional information on request

  (5) At the request of the First Nations Financial Management Board, a first nation shall provide any documents that the Board requires in order to

  • (a) review a financial administration law submitted to the Board;

  • (b) determine that the law was made in accordance with this Act, the regulations or any standards made under subsection 55(1); or

  • (c) perform any of its other functions under this Act.