Adaptation Regulations (Proposed) for Self-Governing and Treaty First Nations (Financing Secured by Other Revenues), pursuant to the First Nations Fiscal Management Act

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Title or working title of the regulatory initiative

Adaptation Regulations (Proposed) for Self-Governing and Treaty First Nations (Financing Secured by Other Revenues)

Enabling act(s)

First Nations Fiscal Management Act

Description

The First Nations Fiscal Management Act provides a First Nations-led legislative and institutional framework to enable First Nations to exercise jurisdiction in the areas of property taxation and financial management, and to access financing on capital markets for infrastructure and economic development. Under section 141 of the Act, regulations can be made to allow self-governing and treaty First Nations to participate in the regime by adapting the Act to the context of self-governing and treaty First Nations.

Since 2006, when the First Nations Fiscal Management Act came into force, several self-governing First Nations have expressed an interest in participating in the Act via Adaptation Regulations for Financing Secured by Other Revenues.

The department has engaged Tsawwassen First Nation, Tla'amin First Nation and the First Nations of the Maa-nulth Treaty Society, and is continuing to work with the First Nations of the Maa-nulth Treaty Society, the First Nations Finance Authority, the First Nations Financial Management Board, the First Nations Tax Commission and the Province of British Columbia on the content and form of the proposed regulations is also working with First Nations who are currently negotiating treaties and self-government agreements and who have also expressed an interest in accessing or continuing their access to the First Nations Fiscal Management Act regime.

Regulatory cooperation efforts (domestic and international)

There is an attempt being made to align the content of the proposed regulations with the laws of Tsawwassen First Nation, Tla'amin First Nation, the First Nations of Maa-nulth Treaty Society, other interested First Nations' laws, the Province of British Columbia and other interested jurisdictions. Consultations with stakeholders will inform this alignment.

Potential impacts on Canadians, including businesses

There are no expected impacts on businesses or Canadians as the proposed regulations will enable self-governing and treaty First Nations to opt into the First Nations Fiscal Management Act and access financing through the First Nations Finance Authority as borrowing members. As such, the proposed regulations will only impose a regulatory regime on opting-in self-governing First Nations.

Consultations

Various forms of engagement and discussions have taken place over the last decade. In particular, the department has engaged Tsawwassen First Nation, Tla'amin First Nation and the First Nations of the Maa-nulth Treaty Society, and is continuing to work with the First Nations of the Maa-nulth Treaty Society, the First Nations Finance Authority, the First Nations Financial Management Board, the First Nations Tax Commission and the Province of British Columbia on the content of the proposed regulations. Other interested self-governing or soon-to-be self-governing First Nations are also being engaged and could be added to the proposed regulations if they wish. A consultation draft was previously released but significant changes were requested by Modern Treaty groups. Broader engagement will occur in 2023-2024 once a revised consultation draft addressing stakeholder feedback is available.

Further information

Not applicable.

Departmental contact information

Leane Walsh
Director
Fiscal Policy and Investment Readiness Directorate
Indigenous Institutions and Governance Modernization Branch
Resolution and Partnerships Sector
Tel.: 613-617-7914
Email: leane.walsh@rcaanc-cirnac.gc.ca
Public Enquiries Toll-free: 1-800-567-9604

The date the regulatory initiative was first included in the Forward Regulatory Plan

September 2013

Find out more

Consult Crown-Indigenous Relations and Northern Affairs Canada's Laws and Regulations web page for:

Consult the following for links to the Cabinet Directive on Regulation and supporting policies and guidance, and for information on government-wide regulatory initiatives implemented by departments and agencies across the Government of Canada:

To learn about upcoming or ongoing consultations on proposed federal regulations, visit:

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