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).
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 AANDC offices and First Nations on the implementation of these policies and related procedures.
First Nations and First Nation individuals.
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.
The Indian Moneys Program supports the existing policies and provides advice relating to Indian moneys.
For more information, contact AANDC toll-free at 1-800-567-9604.