First Nations Fiscal Management Act (S.C. 2005, c. 9)

RELATED PROVISIONS

• — 2012, c. 19, s. 667

  • Definition

    667 In sections 668 to 673, Institute means the First Nations Statistical Institute.

• — 2012, c. 19, s. 668

  • Appointments terminated

    • 668 (1) Directors of the Institute, including the Chairperson and Vice-Chairperson, cease to hold office on the coming into force of this subsection.

    • No compensation

      (2) Despite the provisions of any contract, agreement or order, no person appointed to hold office as a director of the Institute, including as the Chairperson or Vice-Chairperson, has any right to claim or receive any compensation, damages, indemnity or other form of relief from Her Majesty in right of Canada or from any employee or agent of Her Majesty for ceasing to hold that office or for the abolition of that office by the operation of this Division.

• — 2012, c. 19, s. 669

  • References

    669 Every reference to the Institute in a deed, contract or other document executed by the Institute in its own name is to be read, unless the context otherwise requires, as a reference to Her Majesty in right of Canada.

• — 2012, c. 19, s. 670

  • Minister authorized

    670 The Minister of Indian Affairs and Northern Development is authorized to sell or otherwise dispose of all of the Institute’s assets and to do everything necessary for or incidental to closing out the Institute’s affairs.

• — 2012, c. 19, s. 671

  • Surplus

    • 671 (1) Any surplus that remains after the satisfaction of the Institute’s debts and liabilities and the winding-up charges, costs and expenses belongs to Her Majesty in right of Canada.

    • Unsatisfied debts and liabilities

      (2) Any of the Institute’s debts and liabilities that remain unsatisfied on the day on which the Institute is dissolved become the debts and liabilities of Her Majesty in right of Canada.

    • Exception

      (3) Despite subsection (2), Her Majesty in right of Canada is not liable in respect of any claim against the Institute arising from its exercise of, or its failure to exercise, any of its powers or functions.

• — 2012, c. 19, s. 672

  • Commencement of legal proceedings

    • 672 (1) Any action, suit or other legal proceeding in respect of an obligation or liability incurred by the Minister of Indian Affairs and Northern Development in closing out the Institute’s affairs may be brought against Her Majesty in right of Canada in any court that would have had jurisdiction if the action, suit or other legal proceeding had been brought against the Institute.

    • Continuation of legal proceedings

      (2) Any action, suit or other legal proceeding to which the Institute is a party — other than an action, suit or legal proceeding in respect of any claim against the Institute arising from its exercise of, or failure to exercise, any of its powers or functions — that is pending in a court on the coming into force of this subsection may be continued by or against Her Majesty in right of Canada in the same manner and to the same extent as it could have been continued by or against the Institute.

• — 2012, c. 19, s. 673

  • Limit of liability

    673 No civil proceedings lie against a former director or employee of the Institute for anything done, or omitted to be done, in the exercise or purported exercise in good faith of any power, or in the performance or purported performance in good faith of any duty, of that person in accordance with the First Nations Fiscal Management Act, as that Act read immediately before the coming into force of section 660.

• — 2023, c. 16, s. 60

  • Transition to five-year plan

    60 An institution, as defined in section 114 of the First Nations Fiscal Management Act, may, for the financial year following the day on which section 45 comes into force, establish a corporate plan in accordance with section 118 of that Act either as it read immediately before that day or as it reads on or after that day.

• — 2023, c. 16, s. 61

  • Part 6 of First Nations Fiscal Management Act

    • 61 (1) Subsections 118(1), 120(4), 121(1) and 128(1), section 129 and subsection 130(1) of the First Nations Fiscal Management Act do not apply to the Institute or to its present or former directors, officers, employees or agents or mandataries until the first day of the second financial year following the financial year in which all the directors have been appointed under section 104 of that Act.

    • Institute’s first annual meeting

      (2) Despite subsection 131(1) of the First Nations Fiscal Management Act, the board of directors of the Institute must call its first annual meeting within 18 months after the first day of the second financial year following the financial year in which all the directors have been appointed under section 104 of that Act.

    • Definition of Institute

      (3) In this section, Institute has the same meaning as in subsection 101 of the First Nations Fiscal Management Act.