First Nations Oil and Gas and Moneys Management Act (S.C. 2005, c. 48)

Act current to 2014-08-05 and last amended on 2014-03-20. Previous Versions

Marginal note:Past liability

 Subject to section 27, this Act does not affect the liability of Her Majesty or a first nation for any act or omission occurring before the first nation’s transfer date.

Moneys

Marginal note:Additions to Schedule 2
  •  (1) The Minister may, by order, add a first nation’s name to Schedule 2 following an affirmative vote of the first nation’s eligible voters on the ratification of the code prepared under section 11 and the approval of the payment of moneys to the first nation in accordance with the code.

  • Marginal note:Change of name

    (2) On receipt of a resolution of the council of a first nation advising of a change in its name, the Minister may, by order, amend Schedule 2 accordingly.

Marginal note:Initial payment of moneys
  •  (1) Following the addition of a first nation’s name to Schedule 2, the moneys held by Her Majesty for its use and benefit shall be paid to the first nation out of the Consolidated Revenue Fund in accordance with the payment agreement.

  • Marginal note:Loan guarantees

    (2) The Minister may withhold, from moneys otherwise payable under subsection (1), the outstanding amount of any loans entered into by the first nation or members of the first nation and guaranteed by Her Majesty on the security of moneys held for the use and benefit of the first nation by Her Majesty under the Indian Act.

Marginal note:Subsequent payments

 Following a payment of moneys under section 30, all moneys subsequently collected or received by Her Majesty for the use and benefit of the first nation shall be paid out of the Consolidated Revenue Fund to the first nation in accordance with the payment agreement.

Marginal note:Liability for payment
  •  (1) Her Majesty is not liable for the decision by a first nation or its council to request a payment under section 7 or for any actions taken by the first nation or its council pursuant to the request.

  • Marginal note:Liability for future management

    (2) Following the payment of moneys out of the Consolidated Revenue Fund into an account or a trust under section 30 or 31, Her Majesty is not liable for the payment or the management of those moneys.

Marginal note:Past liability

 This Act does not affect the liability of Her Majesty or a first nation for any act or omission in respect of moneys occurring before a payment referred to in subsection 32(2).

POWERS RELATING TO OIL AND GAS

Marginal note:Ownership and management
  •  (1) Subject to any other provision of this Act, a first nation named in Schedule 1 has the powers, rights and privileges of an owner in relation to oil and gas in the first nation’s managed area, including

    • (a) the power, in accordance with its oil and gas laws, to manage oil and gas exploration and exploitation in the managed area and to issue contracts in respect of the managed area; and

    • (b) the power, in accordance with its financial code, to collect oil and gas moneys from contract holders and to manage and expend those moneys.

  • Marginal note:Exercise of powers

    (2) The powers of a first nation under subsection (1) shall be exercised by the council of the first nation or by any person, body or government to which the powers are delegated by the first nation’s oil and gas laws.

  • Marginal note:Registration of contracts

    (3) A first nation shall send particulars relating to each contract issued by the first nation to the Minister for registration in the register established by the regulations or, if none has been established, in the applicable register referred to in subsection 26(1).

  • Marginal note:Issuance of contracts

    (4) No contract may be issued for any activity in a managed area before oil and gas laws for the regulation of that activity are in force in the managed area.