First Nations Fiscal Management Act

Marginal note:Appointment of subsequent directors — Governor in Council

• 105 (1) On the recommendation of the Minister, the Governor in Council shall appoint three directors, including a Chairperson, to hold office during good behaviour for a term not exceeding five years, subject to removal by the Governor in Council at any time for cause.

• Marginal note:Committee to advise Minister

  (2) The Minister may establish a committee to advise the Minister on the appointment of directors, other than the Chairperson, under subsection (1). This committee is to include representation from the board of directors.

• Marginal note:Appointment of subsequent directors — prescribed bodies

  (3) One or more bodies prescribed by regulation shall, in accordance with any rules and procedures established by the board of directors and subject to subparagraph 113(b)(ii), appoint seven additional directors to hold office during good behaviour for a term not exceeding five years, subject to removal by the board under section 108.