26 AUGUST 2004 NEW ZEALAND GAZETTE, No. 104 2569

Labour

Employment Relations Act 2000

Employment Relations Education Leave: Reapproved Courses

Under section 72 (3) of the Employment Relations Act 2000, the Minister of Labour has delegated the power to approve courses for Employment Relations Education (ERE) Leave to the ERE Advisory Committee.

The ERE Advisory Committee has reapproved the following courses:

New Zealand Educational Institute

Title: Role of Staff Representatives on Boards of Trustees

Title: Employment Relations Issues for Middle Management in Schools

Title: Women Teachers and the Employment Environment

Authorised by:
WILF MALCOLM, Chair, Employment Relations Education Advisory Committee.

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Public Trust

Public Trust Act 2001

The Public Trust Common Fund Interest Rates Notice 26 August 2004

The following notice is given pursuant to section 50 of the Public Trust Act 2001 (“the Act”).

Notice

1. Title and commencement—(1) This notice may be cited as the Public Trust Common Fund Interest Rates Notice 26 August 2004.

(2) The determinations and revocation notified in this notice take effect from and including 19 August 2004.

2. Interpretation—(1) Unless the context otherwise requires:

“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 protection 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;

“protection deposit” means a deposit, held at call, of tuition, boarding, accommodation or other fees by or on behalf of a student enrolled at a private training establishment within the meaning of Part 18 of the Education Act 1989;

“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 (not being an agency deposit, an investment deposit, a protection deposit or a special 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.

(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 on deposits (other than investment deposits repayable at the end of fixed term or protection deposits) shall be that specified in Schedule 1 for the appropriate type of deposits.

(2) The rate of Common Fund interest on each protection deposit associated with a particular private training establishment shall be that specified in Schedule 2 for the appropriate dollar range of the total of those deposits.

(3) The rate of Common Fund interest payable on investment deposits repayable at the end of a fixed term shall be that specified in Schedule 3 for the appropriate interest payment frequency, term and dollar range.

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

(5) Despite subparagraphs (1), (2) and (3), in particular cases or classes of case, Public Trust and the depositor may agree on a rate of interest payable on investment deposits, protection deposits or special deposits that is different from the rate specified in Schedules 1, 2 or 3 and the agreed rate then applies.

4. Revocation of notice and transitional provisions—

(1) The Public Trust Common Fund Interest Rates Notice 19 August 2004 is revoked.

(2) The rates of interest specified in Schedules 1 and 2 to this notice do not apply to any period that ends with 18 August 2004 but otherwise operate as from 19 August 2004.

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

(i) do not apply to investment deposits repayable at the end of a fixed term that commenced prior to 19 August 2004; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 19 August 2004.

Schedule 1

Rates of interest payable on deposits (other than investment deposits repayable at the end of fixed term or protection deposits)