NEW ZEALAND GAZETTE

No. 132

"special deposit" means a deposit held other than at call
on behalf of the Crown, or any local authority within the
meaning of the Local Government Act 1974;

"trust deposit" means a deposit held on trust:

(i) for persons not of full age or capacity; or

(ii) for beneficiaries not entitled to payment at call; or

(iii) otherwise than at call (not being a special deposit).

(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 4 September 2003 is revoked.

(2) The rates of interest specified in Schedule 1 to this notice do not apply to any period that ends with 10 September 2003 but otherwise operate as from 11 September 2003.

(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 11 September 2003; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 11 September 2003.\n

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

Dated at Wellington this 11th day of September 2003.

PAT WAITE, Chief Executive, Public Trust.

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Authorities and Other Agencies of State Notices

Commerce Commission

Telecommunications Act 2001

Investigations Into Unbundling Elements of Telecom’s Local Loop Network and Unbundling Elements Of and Interconnection With Telecom’s Fixed Public Data Network

Pursuant to clause 2 of Part 1 of Schedule 3 of the Telecommunications Act 2001 (“the Act”), the Commerce Commission gives public notice that it is publishing a draft report under section 64 and Schedule 3 of the Act and is seeking submissions on the report.

Section 64 of the Act requires the Commerce Commission to deliver a report to the Minister of Communications into whether or not each of the following services should become a designated or a specified service under the Act:

• Access to the unbundled elements of Telecom’s local loop network.
• Access to the unbundled elements of, and interconnection with, Telecom’s fixed Public Data Network.

The Commission commenced its review into unbundling on 10 April 2003 with the publication of an issues paper.

On 4 September 2003, pursuant to clause 1 (3) of Schedule 3 of the Act, the Commission gave public notice that it was commencing an additional investigation into unbundling elements of Telecom’s telecommunications network under Schedule 3 to the Act.

Under clause 1 (1) of Schedule 3 to the Act, the Commission may on its own initiative commence an investigation into whether or not Schedule 1 to the Act should be altered in any of the ways set out in sections 65 to 67 of the Act if the Commission is satisfied there are reasonable grounds for an investigation into the matter.

The Commission was satisfied that reasonable grounds existed.