Marginal note:Definitions

1. The following definitions apply in these Regulations.

“Act”

« Loi »

“Act” means the First Nations Fiscal and Statistical Management Act.

“other revenues”

« autres recettes »

“other revenues” means the revenues described in section 3.

“secured revenues trust account”

« compte de recettes en fiducie garanti »

“secured revenues trust account”, in respect of a first nation, means an account, established by the First Nations Finance Authority and the first nation, in which other revenues to be used for financing under these Regulations are maintained.

Marginal note:Adapted references

• 2. (1) In these Regulations, a reference to a provision of the Act or any regulations made under it — including a reference that occurs in any provision that is adapted by these Regulations — is to be read as a reference to that provision as adapted or restricted by these Regulations, except if the reference is made for the purpose of specifying the provision that is being adapted or restricted.

• Marginal note:Adapted references

  (2) In relation to financing secured by other revenues, a reference in the Act or any regulations made under it, or in any notice or other document issued under the Act or any regulations made under it, to the Act, the regulations or any of their provisions, is to be read as a reference to the Act, regulation or provision as adapted or restricted by these 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 by a first nation, 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.