First Nations are encouraged to provide feedback and suggestions through
online engagement process
OTTAWA, May 5, 2014 /CNW/ - Minister of Aboriginal Affairs and Northern
Development Bernard Valcourt, today launched an online engagement
process on a new draft policy proposal aimed at increasing flexibility
for First Nations to better access and manage their capital moneys.
The improvements proposed would allow First Nations to take advantage of
economic development opportunities and to reduce the administrative
role of the federal government.
Under the Indian Act, capital moneys are moneys collected, received, or held by the federal
government for First Nations' sole use and benefit resulting from the
sale of surrendered land or the sale of non-renewable resources such
as oil and gas. First Nations have expressed concerns at the length of
time it takes to access capital funds through existing policies. As a
result, through this proposed optional policy, the Government is
looking at ways to help First Nations access their capital moneys more
easily and more quickly.
From May 5 to July 4, 2014, interested parties are encouraged to provide
their input on the draft Policy on the Transfer of Capital Moneys through various ways including, mail, e-mail, fax, and via an online feedback tool. Participants can share their perspectives on the policy and suggest
changes or improvement. Input received will inform the drafting of the
Currently, First Nations have over $620 million in capital moneys in the
Consolidated Revenue Fund.
The draft policy proposal outlines the criteria for the transfer of
Consolidated Revenue Funds to a trust which would be created and
managed by First Nations.
The new process would allow for the creation of an independent trust to
which the Indian Act would no longer apply. Therefore, First Nations would no longer have to
request Ministerial approval to use their capital funds as required by
the Indian Act.
First Nations would have the option to use the new approach or they could continue to have their moneys
managed under the Indian Act.
"Our Government continues to take concrete steps for healthier, more
self-sufficient First Nations. We are responding to calls from First
Nations who are asking for improved processes by proposing policy
changes that would allow First Nations to take advantage of economic
development opportunities, move at the speed of business, and build
Minister of Aboriginal Affairs and Northern Development
SOURCE: Aboriginal Affairs and Northern Development Canada
For further information:
Office of the Minister of Aboriginal Affairs and Northern Development
Aboriginal Affairs and Northern Development Canada
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