Common use of Subsequent Transfers Clause in Contracts

Subsequent Transfers. Canada shall, on a semi-annual basis, transfer to the First Nation any interest that is paid into the First Nation’s revenue moneys account thereafter pursuant to subsection 61(2) of the Indian Act. This includes any interest paid on capital moneys of the First Nation while these moneys, if any, are being held in Canada’s Consolidated Revenue Fund. The first such subsequent transfer shall be made in the month of April or October, whichever month comes first after the month of the initial transfer. ANNEX “C”

Subsequent Transfers. Canada shall, on a semi-annual basis, transfer to the First Nation any interest that is paid into the First Nation’s revenue moneys account thereafter pursuant to subsection 61(2) of the Indian Act. This includes any interest paid on capital moneys of the First Nation while these moneys, if any, are being held in Canada’s Consolidated Revenue Fund. The first such subsequent transfer shall be made in the month of April or October, whichever month comes first after the month of the initial transfer. ANNEX “C”.

Subsequent Transfers. Following an initial transfer of moneys, Canada shall, on a semi-annual basis, transfer to the First Nation any interest that is paid into the First Nation’s all revenue moneys account thereafter pursuant to subsection 61(2) of the Indian Act. This includes any interest paid on and capital moneys that are subsequently collected or received by Canada for the use and benefit of the First Nation while these moneys, if any, are being held in Canada’s Consolidated Revenue Fundor its members. The first such subsequent transfer shall be made in the month of April or October, whichever month comes first after the month of the initial transfer. ANNEX “C”