✨ Financial Regulations
2138
THE NEW ZEALAND GAZETTE.
[No. 59
(4) For the purposes of this Order, a person, firm, or company carrying on business as a stock and station agent shall be deemed to be a trading company.
(5) This Order shall apply with respect to deposits held by a company on account of any of its shareholders, or held on account of any employee of a company, society, or local authority in the same manner in all respects as it applies to deposits held on account of any other person.
- The maximum rates of interest that may be paid on deposits to which this Order applies in respect of any period commencing on or after the 17th day of July, 1941, shall be determined—
(a) In the case of deposits with any trading company, in accordance with the provisions of the First Schedule hereto :
(b) In the case of deposits with any building society or investment society, in accordance with the provisions of the Second Schedule hereto :
(c) In the case of deposits with any local authority, in accordance with the provisions of the Third Schedule hereto.
- All Orders in Council in force on the making of this Order, fixing maximum rates of interest payable by trading companies, building societies, investment societies, and local authorities respectively on deposits held by them shall hereafter be read subject to the provisions of this Order.
SCHEDULES.
FIRST SCHEDULE.
MAXIMUM RATES OF INTEREST PAYABLE ON DEPOSITS HELD BY TRADING COMPANIES.
| Period of Deposit. | Maximum Rate of Interest per Centum per Annum. |
|---|---|
| At call or for a period less than 3 months | 1½ |
| For a period not less than 3 months but less than 6 months .. | 1¾ |
| For a period not less than 6 months but less than 12 months .. | 2 |
| For a period not less than 12 months but less than 24 months | 2½ |
| For a period not less than 24 months but less than 36 months | 3 |
| For a period not less than 36 months | 3½ |
SECOND SCHEDULE.
MAXIMUM RATES OF INTEREST PAYABLE ON DEPOSITS HELD BY BUILDING SOCIETIES OR INVESTMENT SOCIETIES.
| Period of Deposit. | Maximum Rate of Interest per Centum per Annum. |
|---|---|
| At call or for a period less than 3 months .. | 1 |
| For a period not less than 3 months but less than 6 months | 1¼ |
| For a period not less than 6 months but less than 12 months | 1½ |
| For a period not less than 12 months but less than 24 months | 2 |
| For a period not less than 24 months but less than 36 months | 2½ |
| For a period not less than 36 months | 3 |
THIRD SCHEDULE.
MAXIMUM RATES OF INTEREST PAYABLE ON DEPOSITS HELD BY LOCAL AUTHORITIES.
| Period of Deposit. | Maximum Rate of Interest per Centum per Annum. |
|---|---|
| At call or for a period less than 3 months .. | 1 |
| For a period not less than 3 months but less than 6 months | 1¼ |
| For a period not less than 6 months | 1½ |
T. R. AICKIN,
Acting Clerk of the Executive Council.
Post Office Savings-bank: Amending Rate of Interest on Deposits.
The Treasury, Wellington,
16th July, 1941:
PURSUANT to section eighty-two of the Post and Telegraph Act, 1928, I, Walter Nash, Minister of Finance, do hereby fix the rates of interest to be payable on and after the 1st day of August, 1941, in respect of moneys deposited in the Post Office Savings-bank in the case of each depositor as follows :—
(a) On so much of his deposit as does not exceed five hundred pounds, a rate of three per centum per annum.
(b) On so much thereof as exceeds five hundred pounds and does not exceed two thousand pounds, a rate of two per centum per annum.
The rates of interest fixed by the Notice published in the New Zealand Gazette of the 31st July, 1934, are hereby cancelled on and from the 1st day of August, 1941.
W. NASH, Minister of Finance.
By Authority: E. V. PAUL, Government Printer. Wellington.
Price 6d.
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1941, No 59
NZLII —
NZ Gazette 1941, No 59
✨ LLM interpretation of page content
💰
Interest on Deposits Restriction Order 1941
(continued from previous page)
💰 Finance & Revenue16 July 1941
Interest rates, Deposits, Trading companies, Building societies, Investment societies, Local authorities
- T. R. Aickin, Acting Clerk of the Executive Council
💰 Post Office Savings-bank Amending Rate of Interest on Deposits
💰 Finance & Revenue16 July 1941
Interest rates, Savings-bank, Deposits, Post Office
- Walter Nash, Minister of Finance