New Zealand Gazette – 2003 – No. 57

Page 1604

✨ Public Trust and Tertiary Education Notices

NEW ZEALAND GAZETTE

No. 57

"agency deposit" means a deposit (not being an investment deposit) held as agent or attorney;

"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.

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 22 May 2003 is revoked.

(2) The rates of interest specified in Schedule 1 to this notice do not apply to any period that ends with 26 May 2003 but otherwise operate as from 27 May 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 27 May 2003; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 27 May 2003.\n

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	3.50
Call deposit	2.25
Investment deposit at call	3.50
Special deposit	5.15
Trust deposit	3.50

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	4.45
For the range $10,000 to $49,999 inclusive	4.90
For the range $50,000 to $249,999 inclusive	4.95
For the range above $250,000	5.00
Fixed term of 6 months
For the range $5,000 to $9,999 inclusive	4.45
For the range $10,000 to $49,999 inclusive	4.90
For the range $50,000 to $249,999 inclusive	4.95
For the range above $250,000	5.00
Fixed term of 9 months
For the range $5,000 to $9,999 inclusive	4.45
For the range $10,000 to $49,999 inclusive	4.90
For the range $50,000 to $249,999 inclusive	4.95
For the range above $250,000	5.00
Fixed term of 12 months
For the range $5,000 to $9,999 inclusive	4.45
For the range $10,000 to $49,999 inclusive	4.90
For the range $50,000 to $249,999 inclusive	4.95
For the range above $250,000	5.00

Dated at Wellington this 26th day of May 2003.

PAT WAITE, Chief Executive, Public Trust.

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Tertiary Education Commission

Education Act 1989

Education (Tertiary Reform) Amendment Act 2002

The Education (Charters for Tertiary Education Organisations) Notice 2003

Requirements and Exemptions for Charters for 2003

Under section 159M of the Education Act 1989, and section 7 of the Education (Tertiary Reform) Amendment Act 2002, the Associate Minister of Education (Tertiary Education) gives the following notice.

Notice

Title and commencement—(1) This notice may be cited as the Education (Charters for Tertiary Education Organisations) Notice 2003.

(2) This notice applies from the date of its publication.

Introduction—As this is the first notice of the requirements for charters as described in section 159L of the Education Act 1989 (as inserted by section 9 of the Education (Tertiary Reform) Amendment Act 2002), the Associate Minister of Education (Tertiary Education) believes that it is important to advise stakeholders in the tertiary sector of the context within which charters fit.

The Government has set a new strategic direction for the tertiary education system to ensure that it is more strategically aligned to the needs of New Zealand and has a greater focus on excellence.

This new direction is outlined in the Tertiary Education Strategy 2002-07 (TES).

VUW Te Waharoa — NZ Gazette 2003, No 57

Gazette.govt.nz — NZ Gazette 2003, No 57

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏢 Public Trust Common Fund Interest Rates Notice (continued from previous page)

Domain🏢 State Enterprises & Insurance
Dated26 May 2003
KeywordsPublic Trust Act 2001, Interest rates, Common Fund, Deposits, Investment
👩‍💼 Officials

PAT WAITE, Chief Executive, Public Trust

🎓 Education (Charters for Tertiary Education Organisations) Notice 2003

Domain🎓 Education, Culture & Science
KeywordsTertiary Education, Charters, Education Act 1989, Education (Tertiary Reform) Amendment Act 2002
👩‍💼 Officials

Associate Minister of Education (Tertiary Education)

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