Originally posted on National Post | News:

OTTAWA — The Conservative government’s legislation aimed at increasing financial transparency on First Nation reserves is set to become law on Wednesday after passing the Senate on Tuesday.

Once enacted, the law will require First Nation governments to publicize audited financial statements and the salaries and expenses of their chiefs and councillors.

“First Nations community members across Canada will come to enjoy the benefits that flow from greater accountability and transparency, and that is more investments, economic opportunities and partnerships,” Aboriginal Affairs Minister Bernard Valcourt said at a press conference in Winnipeg on Wednesday afternoon.

The law is expected to receive Royal Assent sometime Wednesday afternoon, Valcourt said.

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The legislation’s proponents have said its measures will create much-needed financial transparency on First Nation reserves. In January, the Conservatives identified the legislation as a key priority.

But the bill’s opponents called it overreaching and simplistic, and say it adds…

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