Nunavut Land Claims Agreement
THE NUNAVUT TRUST
Prior to the date of ratification of the Agreement, the Tungavik Federation of Nunavut shall cause to be established by trust deed a Nunavut Trust to receive the capital transfer payments referred to in Article 29 and any amounts payable to it under Article 25, and the Nunavut Trust may invest the same and distribute the income therefrom to the beneficiaries of the Trust for the general benefit of Inuit.
The Nunavut Trust shall be resident in Canada.
The Nunavut Trust shall be subject to control by its trustees, who shall be selected by Regional Inuit Organizations or through some other method that ensures conformity with Section 39.1.6.
The trust deed establishing the Nunavut Trust shall provide that amendment of the trust deed must involve ratification by Inuit through an appropriately designed voting procedure.
The rule commonly known as the Rule against Perpetuities shall not apply to theNunavut Trust.
The Nunavut Trust shall provide for the protection and enhancement of settlement assets based on sound management practices.
Subject to Section 31.1.5, the Nunavut Trust and other Inuit structures shall be subject to laws of general application including applicable tax laws.
ACCESS TO INFORMATION
The following information shall be freely available to all Inuit:
the trust deed establishing and governing the Nunavut Trust;
the constituting documents of the principal beneficiary and any other beneficiaries of the Trust; and
annual reports detailing the activities and finances of the Trust, its principal beneficiary, and any other beneficiaries.
In addition to any relevant rights at common law or provided through legislation, all Inuit shall have standing in a court of competent jurisdiction to enforce the objects and other provisions of the trust deed and the constituting documents of the principal beneficiary and any other beneficiaries of the Trust.