The present Act establishes four institutions: the First Nations Tax Commission (FNTC), the First Nations Finance Authority (FNFA), the First Nations Financial Management Board (FNFMB) and the First Nations Statistical Institute.By opting to be added to the Schedule of the present Act, First Nations are able to access various tools and services offered by these institutions. Some First Nations will be implementing a real property tax regime with the support of the afore-mentioned Commission, seeking approval of its Financial Administration Law and working towards financial certification with the said Board; and, accessing long-term pooled borrowing otherwise unavailable to First Nations, through the Statistical Institute. The text consists of 155 sections divided into 8 Parts and 1 Schedule.
Implemented by: First Nations Assessment Appeal Regulations (SOR/2007-241). (2016-04-01)
Implemented by: First Nations Assessment Inspection Regulations (SOR/2007-242). (2016-04-01)
Authors and Publishers
A land of vast distances and rich natural resources, Canada became a self-governing dominion in 1867, while retaining ties to the British crown. Economically and technologically, the nation has developed in parallel with the US, its neighbor to the south across the world's longest international border. Canada faces the political challenges of meeting public demands for quality improvements in health care, education, social services, and economic competitiveness, as well as responding to the particular concerns of predominantly francophone Quebec.