First Nations Fiscal Management Act Adaptation Regulations

Contents

Whereas the Governor in Council considers that the annexed First Nations Fiscal Management Act Adaptation Regulations are necessary for the purpose of enabling an Indigenous group that is a party to a treaty, land claims agreement or self-government agreement with Canada to benefit from the provisions of the First Nations Fiscal Management Act or obtain the services of any body established under that Act;^noteTherefore, Her Excellency the Governor General in Council, on the recommendation of the Minister of Crown-Indigenous Relations, makes the annexed First Nations Fiscal Management Act Adaptation Regulations under subsection 141(1) of the First Nations Fiscal Management Act.^note

Part 1 · Definition, Purpose and Application

1Definition of Act#

In these Regulations, Act means the First Nations Fiscal Management Act.^note

2Purpose#

The purpose of these Regulations is to enable an Indigenous group that is a party to a treaty or self-government agreement with Canada to benefit from the provisions of the Act or obtain the services of the bodies established under the Act, specifically the ability to obtain financing secured by other revenues within the meaning of subsection 2(1) of the Act, as adapted by section 5 of these Regulations.

3Application#

The Act and the regulations made under the Act apply in respect of an Indigenous group referred to in section 2 that is named in Schedule 1 or 2, subject to the adaptations set out in these Regulations.

4Precision#

For greater certainty, the adaptations to the Act that are set out in these Regulations are not intended to re-establish the First Nations Tax Commission, the First Nations Financial Management Board, the First Nations Finance Authority or the First Nations Infrastructure Institute, nor to affect the composition of those bodies.

Part 2 · Adaptation to the Act

5Adaptation#

The heading before section 1 and sections 1 to 141.2 of the Act are adapted as follows:

Part 3 · Adaptations to Regulations

Division 1 — Adaptation to the Debt Reserve Fund Replenishment Regulations

6Adaptation#

The heading before section 1 and sections 1 to 4 of the Debt Reserve Fund Replenishment Regulations are adapted as follows:

Division 2 — Adaptation to the Revenue Management Implementation Regulations

7Adaptation#

The heading before section 1 and sections 1 to 23 of the Revenue Management Implementation Regulations are adapted as follows:

Part 4 · Coming into Force

*8Addition to Schedule 1 or 2#

These Regulations come into force on the day on which an amendment to add the name of an Indigenous group to Schedule 1 or 2 comes into force.

Schedule 1 · Indigenous Groups — Treaty or Self-Government Agreement That Became Effective Before 2017 (Section 3)

Schedule 2 · Indigenous Groups — Treaty or Self-Government Agreement That Became Effective in 2017 or Later (Section 3)

Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.