Financing Secured by Other Revenues Regulations

Marginal note:Other revenues

3 For the purposes of paragraph 74(b) of the Act, the following revenues may be used to secure financing for the purposes set out in section 4:

• (a) tax revenues and fees imposed or collected by a first nation under a law or a contract, other than

  • (i) local revenues, and

  • (ii) revenues from taxes administered by Her Majesty in right of Canada on the first nation’s behalf;

• (b) royalties payable to a first nation under the First Nations Land Management Act or the First Nations Oil and Gas and Moneys Management Act;

• (c) royalties payable to Her Majesty in right of Canada under the Indian Act or the Indian Oil and Gas Act on behalf of a first nation that has assumed control of its moneys under the First Nations Oil and Gas and Moneys Management Act;

• (d) revenues that are from leases, permits or other instruments authorizing the use of reserve land issued under the Indian Act and that a first nation has assumed control of under the First Nations Oil and Gas and Moneys Management Act;

• (e) revenues from leases, permits or other instruments authorizing the use of reserve land issued under the First Nations Land Management Act;

• (f) revenues otherwise payable to a first nation under any contract with a person other than Her Majesty in right of Canada, other than revenues collected by Her Majesty in right of Canada on the first nation’s behalf;

• (g) revenues, other than local revenues, received by a first nation from businesses wholly or partly owned by it, including dividends from shares owned by it;

• (h) transfers from a provincial, regional, municipal or local government to a first nation;

• (i) transfers from Her Majesty in right of Canada to a first nation if the agreement governing the transfer specifically permits such a use and if any other applicable conditions are satisfied; and

• (j) interest earned by a first nation on deposits, investments or loans, other than interest held by Her Majesty in right of Canada on the first nation’s behalf.