Debt Reserve Funds Replenishment Regulations

Marginal note:Definitions

1 The following definitions apply in these Regulations.

Act

Act means the First Nations Fiscal Management Act. (Loi)

defaulting member

defaulting member means a borrowing member whose failure to make a payment, in full and on time, due under a borrowing agreement with the Authority or to pay, in full and on time, an amount required under subsection 84(5) of the Act to replenish the debt reserve fund with respect to the type of financing received by the borrowing member — referred to in subsection 84(1) of the Act — has led to a reduction in that fund. (membre en défaut)