Financial Agreement Act

Consolidated act

Citation: R.S.N.W.T. 1988, c.12
Source: Unofficial consolidation PDF (justice.gov.nt.ca) consolidation downloaded Jun 6, 2026

This is an unofficial reading copy parsed from the Department of Justice consolidation PDF above — itself an office consolidation, not an official statement of the law. The authoritative text is in the Revised Statutes of the Northwest Territories, 1988 and the annual Statutes volumes.

s.1 amended by S.N.W.T. 1998,c.24,s.10(2)
s.2 amended by R.S.N.W.T. 1988,c.76(Supp.), s.1
s.4 amended by S.N.W.T. 1998, c.24, s.10(3)

Contents

1. Definitions 2. Agreement 3. Variation, amendment, extension or termination of agreement 4. Effective date 5. Implemen- ation

Definitions

In this Act,

"agreement" means the agreement entered into pursuant to section 2 and, except in subsections 4(2),

(3) and (4), includes any annual memorandum entered into pursuant to the agreement; (accord)

"financial period" means any period as may be agreed upon by the Government of Canada and the Government of the Northwest Territories; (exercice)

"grant" means the payment by the Government of Canada to the Government of the Northwest Territories for the financial period for operation and maintenance and capital expenditures. (subvention) S.N.W.T. 1998,c.24,s.10(2).

Agreement

(1) Subject to this Act, the Minister of Finance may, on behalf of the Government of the Northwest Territories, enter into an agreement with the Government of Canada to provide that the Government of Canada pay a grant to the Government of the Northwest Territories for the financial period.

Execution

(2) Any variation, amendment, extension or termination of the agreement shall be executed by the Minister of Finance. R.S.N.W.T. 1988,c.76(Supp.), s.1.

Variation, amendment, extension or termination of agreement

Subject to section 4, the agreement may be varied, amended, extended or terminated as may be agreed upon in writing by the Government of Canada and the Government of the Northwest Territories.

Effective date

(1) The agreement and any variation, amendment, extension or termination of the agreement shall have effect upon its making or on a day agreed to by the Government of Canada and the Government of the Northwest Territories.

Laying before Legislative Assembly

(2) The agreement and any variation, amendment, extension or termination of the agreement shall be laid before the Legislative Assembly but, if the Legislative Assembly is not then sitting, it shall be laid before the Legislative Assembly at the next ensuing session.

Vote of Legislative Assembly

(3) The Legislative Assembly shall vote on the agreement and any variation, amendment, extension or termination of the agreement laid before the Legislative Assembly pursuant to subsection (2).

Effect of vote of Legislative Assembly

(4) Where the Legislative Assembly votes against the agreement or a variation, amendment, extension or termination of the agreement, the agreement or the variation, amendment, extension or termination ceases to have effect on the day on which the Legislative Assembly so votes. S.N.W.T. 1998, c.24, s.10(3).

Implemen- ation

The Minister is empowered to do every act and exercise every power for the purpose of implementing every obligation assumed by the Government of the Northwest Territories under the agreement.