✨ Financial and Social Welfare Notices
25 SEPTEMBER
NEW ZEALAND GAZETTE
“call deposit” means a deposit (not being an agency deposit, an investment deposit, a special deposit or a trust deposit) held in the ordinary course of administration, and determined by Public Trust to be held at call;
“deposit” means a sum of money held by Public Trust belonging to any estate, which money for the time being forms part of the Common Fund;
“investment deposit” means a deposit held at call or otherwise as an investment under section 51 of the Act;
“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.
- 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.
- Revocation of notice and transitional provisions—
(1) The Public Trust Common Fund Interest Rates Notice 18 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 17 September 2003 but otherwise operate as from 18 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 18 September 2003; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 18 September 2003.
Schedule 1
Rate of interest payable on a deposit (other than an investment deposit repayable at the end of a fixed term)
| Type of Deposit | % interest rate p.a. |
|---|---|
| Agency deposit | 3.00 |
| Call deposit | 1.75 |
| Investment deposit at call | 3.00 |
| Special deposit | 4.20 |
| Trust deposit | 3.00 |
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Schedule 2
Rate of interest payable on an investment deposit repayable at the end of a fixed term
| Term and Dollar Range of the Deposit | % interest rate p.a. |
|---|---|
| Fixed term of 3 months | |
| For the range $5,000 to $9,999 inclusive | 4.30 |
| For the range $10,000 to $49,999 inclusive | 4.60 |
| For the range $50,000 to $249,999 inclusive | 4.75 |
| For the range above $250,000 | 4.80 |
| Fixed term of 6 months | |
| For the range $5,000 to $9,999 inclusive | 4.30 |
| For the range $10,000 to $49,999 inclusive | 4.80 |
| For the range $50,000 to $249,999 inclusive | 4.90 |
| For the range above $250,000 | 5.00 |
| Fixed term of 9 months | |
| For the range $5,000 to $9,999 inclusive | 4.30 |
| For the range $10,000 to $49,999 inclusive | 5.05 |
| For the range $50,000 to $249,999 inclusive | 5.05 |
| For the range above $250,000 | 5.05 |
| Fixed term of 12 months | |
| For the range $5,000 to $9,999 inclusive | 4.40 |
| For the range $10,000 to $49,999 inclusive | 4.85 |
| For the range $50,000 to $249,999 inclusive | 5.00 |
| For the range above $250,000 | 5.05 |
Dated at Wellington this 18th day of September 2003.
PAT WAITE, Chief Executive, Public Trust.
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Social Development
Social Security Act 1964
Work Start Grant Amendment 2003
Pursuant to section 124 (1) (d) of the Social Security Act 1964, the Minister for Social Development and Employment establishes and approves the following amendment to the Work Start Grant Programme (as established and approved on 29 June 1999).
Dated at Wellington this 11th day of September 2003.
STEVE MAHAREY, Minister for Social Development and Employment.
————
Amendment
- Title—(1) This amendment is the Work Start Grant Amendment 2003.
(2) In this amendment, the Work Start Grant Programme is called “the programme”.
-
Commencement—This amendment comes into effect on 1 October 2003.
-
Interpretation—(1) The definition in clause 2.1 of the programme of client is amended by omitting the words “(not being a full-time student)”.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 136
Gazette.govt.nz —
NZ Gazette 2003, No 136
✨ LLM interpretation of page content
🏢
Public Trust Common Fund Interest Rates Notice 25 September 2003
(continued from previous page)
🏢 State Enterprises & Insurance18 September 2003
Public Trust, Interest Rates, Common Fund, Deposits, Schedules
- PAT WAITE, Chief Executive, Public Trust
🏥 Work Start Grant Amendment 2003
🏥 Health & Social Welfare11 September 2003
Social Security, Work Start Grant, Amendment, Ministerial Approval
- STEVE MAHAREY, Minister for Social Development and Employment