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Shareholder - NND Business Trust

The Na-Cho Nyak Dun Business Trust (the "Trust") is the Development Corporation's sole shareholder. The Trust was established by the First Nation of Na-Cho Nyak Dun (FN-NND) by way of a trust deed dated April 1, 2008. The Trust holds certain assets for the benefit of FN-NND, the sole beneficiary, with such assets to be held and invested pursuant to the terms of the Trust. 

The purpose of the Trust is to:

  1. Protect the assets from inadvertent application of tax;

  2. Ensure the prudent management of the Trust property; and 

  3. Provide independent administration, investment, and custody of the Trust property.

The Trust's business development activities take the form of investments in businesses intended to provide returns according the the Trust's approved Investment Policy Statement (the "IPS"). This includes acting as shareholder to any corporations whose stock shares, bonds, or other securities form part of the Trust property, and can involve partnerships, proprietorships, joint ventures and making investments in financial instruments. An example of such an investment is this corporation, NNDDC, a wholly owned entity of the Trust tasked with pursuing for-profit business endeavours. 

The Trust is managed by a board of trustees (the "Trustees"), with a minimum of three (3) Trustees at any given time. The Trustees themselves are appointed and removed by a protector (the "Protector"), an independent third-party who is tasked with appointing and removing Trustees. The Protector is also tasked with approving the IPS and any amendments thereto. The current Trustees are:

  • Donna Hogan 

  • Florence Pilon 

  • Teresa Samson

  • Adrienne Hill

The Trustees have the responsibility to ensure that:

  • The assets are properly managed;

  • Any disbursements to the beneficiary are proper and are in keeping with the Trust Deed;

  • The proper financial reporting to the beneficiary is completed as required by the Trust Deed.

The Trustees (collectively and individually) have the responsibility of managing the assets of the Trust by investing as per the IPS and have the ability to act as directors of any corporation or entity that forms part of the Trust property, or to appoint directors or representatives to those entities. The Trustees have the responsibility of receiving assets into the Trust as they are acquired and dispersing to the beneficiary attributed income as per the requirements of the Trust Deed. 

The Trustees are required to: 

  • Keep records relating to the Trust on Settlement Land;

  • Meet at least twice each calendar year;

  • Provide copies of the audited non-consolidated financial statements to FN-NND each year;

  • Have an independent evaluation of the business pursuits of the Trust made every four years; and

  • Prepare the documentation for the passing of the accounts by a Court of competent jurisdiction every fourth (4th) year and provide these documents to FN-NND.

The Trustees have developed their own policies and procedures concerning internal administration of the Trust in accordance with the Trust Deed.

If you are interested in becoming a Trustee for the NND Business Trust, please visit the opportunities page.

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