May 5, 2014 - Ottawa, ON - Aboriginal Affairs and Northern Development Canada
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 final policy.
Office of the Minister of Aboriginal Affairs and Northern Development
Aboriginal Affairs and Northern Development Canada
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