AI-assisted research summary: Bands must keep revenue moneys in an account, authorize cheque signers, and have the account audited.
Regulations Respecting Revenue Moneys of Certain Bands of Indians These Regulations may be cited as the Indian Bands Revenue Moneys Regulations. In these Regulations, account means the account of a Band established pursuant to section 5; (compte) Band means a band listed in the schedule to the Indian Band Revenue Moneys Order, or any other band permitted to control, manage or expend its revenue moneys in part pursuant to subsection 69(1) of the Indian Act. (bande) [Revoked, SOR/93-244, s. 2] Any expenditure by a Band of its revenue moneys shall be subject to the Indian Act. Every Band shall establish an account with a chartered bank, a trust or loan company or a credit union or caisse populaire. Every Band shall authorize three persons, two of whom shall be members of the Band, to sign cheques or orders for payment of money drawn on its account. Every cheque or order for payment of money drawn on the account of a Band shall be signed by at least two of the persons authorized by the Band pursuant to subsection (1). Where the Minister has, pursuant to section 66 of the Indian Act, authorized or directed the expenditure of revenue moneys of a Band, the amount of moneys so authorized or directed to be expended shall be paid to the Band's account out of the Consolidated Revenue Fund. Every Band shall engage an auditor to audit its account and to render an annual report in respect thereof. A copy of the auditor's annual report shall, within seven days of its completion, be posted in conspicuous places on the Band Reserve for examination by members of the Band; and be supplied to the Minister of Indian Affairs and Northern Development.