Overview

Indian Moneys means all moneys collected, received or held by Her Majesty for the use and benefit of Indians and/or bands. There are two types of Indian moneys: capital and revenue.

Capital moneys are Indian moneys derived from the sale of surrendered lands (from an interest in land), or from the sale of the non-renewable resources of a band. These moneys include oil and gas royalties, bonus payments and other proceeds from the sale of timber, oil and gas or gravel.

Revenue moneys are all Indian moneys other than capital moneys. Revenue moneys may include, but are not limited to, proceeds from: the sale of renewable resources, rights-of-way, fines and interest earned on capital, and revenue moneys held in the Consolidated Revenue Fund (CRF).

Program Description

The Indian Moneys program is responsible for the administration of Indian moneys held within the CRF for the use and benefit of Indians and/or bands. Indian moneys are managed pursuant to sections 61 to 69 of the Indian Act, which defines the collection, maintenance, expenditure and accounting of Indian moneys. The Indian Moneys Program provides advice and guidance to regional INAC offices and First Nations on the implementation of these policies and related procedures.

Through the Living Estates Program, individual moneys are also held and administered within the CRF on behalf of individuals, including on-reserve minors and mentally incompetent Indians (as defined by the Indian Act), pursuant to sections 51 and 52 of the Indian Act.

The Indian Moneys Program also administers treaty annuity payments on a national basis to registered Indians who are entitled to treaty annuity through membership to bands that have signed treaties with the Crown. Several of these treaties made provisions for the annual distribution of ammunition and twine for nets to bands and a suit of clothing every three years for Chiefs and Councillors.

Client Group

First Nations and First Nation individuals.

Developments

On April 1, 2006, the First Nations Oil and Gas and Moneys Management Act was enacted, providing an option for a First Nation to assume full control over the management of its band moneys and/or oil and gas resources, in the case where a First Nation has oil and gas on its reserve.

Summary

The Indian Moneys Program supports the existing policies and provides advice relating to Indian moneys, individual moneys and the provision of treaty annuity payments.

Additional Information

For more information, contact INAC toll-free at 1-800-567-9604.