NEW ZEALAND GAZETTE

No. 41

(2) Expressions defined in the Act have the same meaning in this notice as they do in the Act.

3. Rates of Common Fund interest

(1) The rate of Common Fund interest payable on a deposit (other than an investment deposit repayable at the end of a fixed term) shall be that specified in Schedule 1 for the appropriate type of deposit.

(2) The rate of Common Fund interest payable on an investment deposit repayable at the end of a fixed term shall be that specified in Schedule 2 for the appropriate term and dollar range.

(3) Despite subparagraph (1), the rate of Common Fund interest payable on a deposit made pursuant to an enactment shall be the rate (if any) specified in the enactment.

(4) Despite subparagraph (1), in particular cases or classes of case, Public Trust and the depositor may agree on a rate of interest payable on a special deposit that is different from the rate specified in Schedule 1 and the agreed rate then applies.

4. Revocation of notice and transitional provisions

(1) The Public Trust Common Fund Interest Rates Notice 18 April 2002 is revoked.

(2) The rates of interest specified in Schedule 1 to this notice do not apply to any period that ends with 19 April 2002 but otherwise operate as from 20 April 2002.

(3) The rates of interest specified in Schedule 2 to this notice:

(i) do not apply to investment deposits repayable at the end of a fixed term that commenced prior to 20 April 2002; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 20 April 2002.

Schedule 1

Rate of interest payable on a deposit (other than an investment deposit repayable at the end of a fixed term)

Schedule 2

Rate of interest payable on an investment deposit repayable at the end of a fixed term

| Fixed term of 6 months | |
| For the range $5,000 to $9,999 inclusive | 4.87 |
| For the range $10,000 to $49,999 inclusive | 5.37 |
| For the range $50,000 to $249,999 inclusive | 5.43 |
| For the range above $250,000 | 5.80 |

| Fixed term of 9 months | |
| For the range $5,000 to $9,999 inclusive | 4.95 |
| For the range $10,000 to $49,999 inclusive | 5.35 |
| For the range $50,000 to $249,999 inclusive | 5.42 |
| For the range above $250,000 | 5.94 |

| Fixed term of 12 months | |
| For the range $5,000 to $9,999 inclusive | 5.13 |
| For the range $10,000 to $49,999 inclusive | 5.77 |
| For the range $50,000 to $249,999 inclusive | 5.90 |
| For the range above $250,000 | 6.26 |

Dated at Wellington this 22nd day of April 2002.

TIM SOLE, Chief Executive, Public Trust.

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Social Development

Social Security Act 1964

Debt Repayment (Energy Trusts) Amendment 2002

Pursuant to section 124 (1) (d) of the Social Security Act 1964, the Minister of Social Services and Employment establishes and approves the following Amendment to the Debt Repayment (Energy Trusts) Programme (as established and approved on 10 March 2001).

Dated at Wellington this 10th day of April 2002.

STEVE MAHAREY, Minister of Social Services and Employment.

Amendment

1. Title—(1) This Amendment is the Debt Repayment (Energy Trusts) Amendment 2002.

(2) In this Amendment, the Debt Repayment (Energy Trusts) Programme is called “the programme”.

2. Commencement—This Amendment comes into effect on the day after the date on which the Minister approves it.

3. Payment: Eligibility—Clause 6 (a) of the programme is amended by omitting the words “and before 30 June 2001”.

4. Expiry of programme—If any Regulations under the Act come into force that have the effect of exempting distributions from energy trusts from being treated as income under the Act, the programme expires on the date that is 1 month after the date on which those Regulations come into force.

Explanatory Note:

This note is not part of the Amendment but is intended to explain its general effect.

This Amendment extends the Debt Repayment (Energy Trusts) Programme to include distributions received after 30 June 2001.

It also provides for the expiry of the programme if Regulations under the Act come into force that have the effect of exempting distributions from energy trusts from being treated as income under the Act.

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