Corporate Structures
Corporate Structures
6. (1) The following bodies shall be responsible for the management of the compensation and benefits received by the Inuvialuit pursuant to this Agreement:
(a) The Inuvialuit Regional Corporation, a corporation without share capital, to generally represent the Inuvialuit and their rights and benefits, to receive initially the Settlement lands and financial compensation, for transfer, in respect of lands, to the Inuvialuit Land Corporation and, in respect of financial compensation, to the Inuvialuit development Corporation, the Inuvialuit Investment Corporation and the Inuvialuit Petroleum Corporation, in such amounts as the Inuvialuit Regional Corporation may determine; also to administer the Inuvialuit lands through its division, the Inuvialuit Land Administration, and to take responsibility for matters related to the supervision, management and administration of such lands, and to hold 100% of all voting shares in each of the Inuvialuit development Corporation, Inuvialuit Investment Corporation, Inuvialuit Land Corporation, and Inuvialuit Petroleum Corporation which receives financial compensation (subsection 15(2) capital transfer payments).
As amended by P.C.