Northwest Territories Act (R.S.C., 1985, c. N-27)

Marginal note:Northwest Territories C.R.F.

• 24. (1) All public moneys and revenue over which the Commissioner in Council has the power of appropriation shall form a fund to be known as the Northwest Territories Consolidated Revenue Fund.

• Marginal note:Establishment of bank accounts

  (2) The Commissioner shall establish, in the name of the government of the Territories, accounts with banks, or authorized foreign banks within the meaning of section 2 of the Bank Act that are not subject to the restrictions and requirements referred to in subsection 524(2) of that Act, in respect of their business in Canada, that the Commissioner designates for the deposit of public moneys and revenue.

Marginal note:Recommendation of Commissioner

25. It is not lawful for the Council to adopt or pass any vote, resolution, address or bill for the appropriation of any part of the public revenue of the Territories, or of any tax or impost, to any purpose that has not been first recommended to the Council by message of the Commissioner, in the session in which the vote, resolution, address or bill is proposed.

Marginal note:Appropriation of moneys granted by Parliament

26. When a sum of money is granted to Her Majesty by Parliament to defray expenses for a specified public service in the Territories, the power of appropriation by the Commissioner in Council over that sum is subject to the specified purpose for which it is granted.

Marginal note:Submission of Territorial Accounts to Council

27. A report for each fiscal year of the Territories, called the Territorial Accounts, shall be laid before the Council by the Commissioner on or before such day following the termination of the fiscal year as the Council may fix, and the Council shall consider the report.

Marginal note:Form and contents

28. The Territorial Accounts shall be in such form as the Commissioner may direct and shall include

• (a) a report on the financial transactions of the fiscal year;

• (b) a statement, certified by the Auditor General of Canada, of the expenditures and revenues of the Territories for the fiscal year;

• (c) a statement, certified by the Auditor General of Canada, of assets and liabilities as at the termination of the fiscal year; and

• (d) such other information or statements as are required in support of the statements referred to in paragraphs (b) and (c), or as are required by ordinance or by the Minister.