4 NOVEMBER
THE NEW ZEALAND GAZETTE
3633

National Roads Board—Declaring State Highway to be a Limited Access Road

It is notified that the National Roads Board, by resolution dated 20 October 1982 and pursuant to section 153 of the Public Works Act 1981, hereby declares that part of State Highway No. 1, Flag Swamp to Waikouaiti section, for half its width on the western side across the frontage of part Lot 5, D.P. 3679 (certificate of title 7B/912), as more particularly shown on sheet 1 of plan 70/7/66 and accompanying Schedule held in the office of the Resident Engineer, Ministry of Works and Development, Dunedin, and there available for public inspection, to be a limited access road.

Dated at Wellington this 21st day of October 1982.

R. K. THOMSON, Secretary.

(72/1/16/5)

National Roads Board—Declaring State Highway to be a Limited Access Road

It is notified that the National Roads Board, by resolution dated 20 October 1982 and pursuant to section 153 of the Public Works Act 1981, hereby declares that part of State Highway No. 1, Woodlands to Invercargill section, for half its width on the northern side for 20 metres along the frontage of Lot 2, D.P. 10218 (certificate of title 6A/311), commencing at the eastern boundary, as more particularly shown on sheet 1 of plan 73/32/67 and accompanying Schedule held in the office of the Resident Engineer, Ministry of Works and Development, Invercargill, and there available for public inspection, to be a limited access road.

Dated at Wellington this 21st day of October 1982.

R. K. THOMSON, Secretary.

(72/1/18/5)

Court of Appeal Sittings 1983

WE, the undersigned Judges of the Court of Appeal of New Zealand hereby appoint sittings of the Court of Appeal in the City of Wellington on the following days:

1 February 2 May 1 August 31 October
28 February 30 May 5 September 5 December
11 April 4 July 3 October

commencing at 10 a.m. and on such other days and at such times as the Court may from time to time appoint.

Given under our hands at Wellington this 26th day of October 1982.

A. O. WOODHOUSE, P.
R. B. COOKE, J.
I. L. M. RICHARDSON, J.

Post Office Savings Bank Investment Account Interest Notice 1982, No. 3

THE rate of interest applicable to money held in Post Office Savings Bank Investment Accounts shall be as set out below.

This notice shall come into force on the 18th day of October 1982.

1. Interest Rates—(1) The maximum rate of interest to be payable for any period of deposit commencing on or after the date of this notice shall be:

(a) For a period of 6 months and each subsequent period of 6 months: 12.25 percent per annum;

(b) For a period of 12 months and each subsequent period of 12 months: 13.25 percent per annum;

(c) For a period of 24 months and each subsequent period of 24 months: 13.75 percent per annum;

(d) For a period of 36 months and each subsequent period of 36 months: 14.25 percent per annum;

(2) Rates of interest payable on and conditions applying to money withdrawn where the deposit was made or reinvested after the commencement of this notice shall be:

(a) In respect of money withdrawn at maturity the rate of interest payable shall be that provided in clause 1 (1) (a), (b), (c) or (d) as appropriate to the term of investment.

(b) In respect of money withdrawn before the expiration of the first or any subsequent period of deposit the interest rate shall be:

(i) For any period of less than 30 days: In the first period of deposit: nil: In the second or any subsequent period of deposit: 6 percent per annum;

(ii) For any period of not less than 30 days but less than 6 months: 10 percent per annum;

(iii) On deposits for any period of not less than 6 months but less than 3 years, that specified in clause 1 (1) (a), (b) and (c) as appropriate to the actual term the deposit has been held.

Provided that, where money is withdrawn because of the death of the investor the rate of interest payable may be the rate applicable to the full term.

2. Reinvested Deposits—Any deposit not withdrawn after the completion of the specified term shall be treated as reinvested for a further similar term at the current rate appropriate to the particular term as specified in clause 1 of this notice.

3. Revocation—The Post Office Savings Bank Investment Account Interest Notice 1982*, No. 2, is hereby revoked.

4. Transitional Provisions—Notwithstanding the revocation of the Post Office Savings Bank Investment Account Interest Notice 1982, No. 2, the rates of interest payable, and the conditions applying in respect of money which was deposited in investment accounts before the commencement of this notice shall be the same as those applicable to that money before the commencement of this notice until the expiry of the term of deposit.

5. Explanatory Note—Clause 1 (1) fixes the rates of interest payable on 6-month, 1-year, 2-year and 3-year investment accounts. Clause 1 (2) fixes the rate of interest payable on money withdrawn at maturity and before the expiration of the specified periods of deposit.

Clause 2 provides for deposits not withdrawn at maturity to be reinvested.

Clause 4 limits application of the new rates to periods of deposit which commence on or after 18 October 1982.

Dated at Wellington this 5th day of October 1982.

F. K. MCINERNEY,
Director-General, New Zealand Post Office.

B. V. GALVIN,
Secretary to the Treasury The Treasury.

*Gazette, 9 September 1982, No. 103, p. 2919

Trading Bank Reserve Asset Ratio

PURSUANT to section 33 of the Reserve Bank of New Zealand Act 1964, the Reserve Bank, acting with the approval of the Minister of Finance, hereby gives notice that as from the close of business on 1 November 1982 and until further notice each trading bank shall maintain during each calendar month balances at the Reserve Bank plus holdings of Reserve Bank notes and of New Zealand Government securities, such that the aggregate of the averages of those balances and holdings during that calendar month (determined in accordance with clauses 1, 2, 3 and 4 of this Notice) equals or exceeds the aggregate of:

10.0 percent of that trading bank’s average demand and time deposit liabilities in New Zealand in the immediately preceding calendar month (determined in accordance with the provisions of Clause 5 of this Notice);

Provided that a trading bank may make up its balances and holdings as aforesaid for a calendar month by way of borrowings from the Reserve Bank made during the next following calendar month and on terms and conditions to be determined by the Reserve Bank and the proceeds of all such borrowings shall be credited to the account of that trading bank with the Reserve Bank termed “Contra Deposit Account” and on terms and conditions to be determined by the Reserve Bank.

For the purposes of this Notice:

(1) Balances held by a trading bank at the Reserve Bank shall (subject to clause 6 of this notice) include both demand deposit balances and time deposit balances of that trading bank,

(2) The average of a trading bank’s holdings of Reserve Bank notes for a calendar month shall be the average of the figures shown in all weekly returns of Banking Statistics by that trading bank under the Statistics Act 1975 received during that calendar month.