New Zealand Gazette – 2004 – No. 87

Page 2182

✨ Public Trust Interest Rates Notice



2182 NEW ZEALAND GAZETTE, No. 87 15 JULY 2004

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

  1. 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.

  1. Revocation of notice and transitional provisions—
    (1) The Public Trust Common Fund Interest Rates Notice
    8 July 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
7 July 2004 but otherwise operate as from 8 July 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
8 July 2004; but

(ii) do apply to investment deposits repayable at the

end of a fixed term that commenced on or after
8 July 2004.

Schedule 1
Rates of interest payable on deposits (other than
investment deposits repayable at the end of fixed term
or protection deposits)

% p.a.
Agency deposits 4.00
Call deposits 2.75
Investment deposits at call 4.00
Special deposits 5.90
Trust deposits 4.00

Schedule 2
Rates of interest payable on each protection deposit
associated with a particular private training establishment

% p.a.
Total deposits do not exceed $350,000 4.00
Total deposits in range $350,001 to $1,750,000 4.40
Total deposits exceed $1,750,000 4.80

Schedule 3
Rates of interest payable on investment deposits repayable
at the end of a fixed term

Interest payable on maturity

$5,000-$9,999 $10,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a. % p.a.
3 mths 4.80 5.10 5.10 5.10
6 mths 5.00 5.60 5.60 5.80
9 mths 5.20 5.80 5.80 5.90
1 yr 5.20 6.00 6.00 6.10
18 mths 5.30 6.15 6.15 6.20
24 mths 5.30 6.15 6.15 6.20
30 mths 5.30 6.20 6.20 6.20
36 mths 5.30 6.20 6.20 6.20
4 yrs 5.30 6.10 6.10 6.10
5 yrs 5.30 6.10 6.10 6.10

Interest payable monthly

$20,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a.
6 mths 5.05 5.14 5.14
9 mths 5.06 5.31 5.31
1 yr 5.13 5.37 5.37
18 mths 5.27 5.27 5.37
24 mths 5.46 5.46 5.46
30 mths 5.46 5.46 5.46
36 mths 5.51 5.51 5.51
4 yrs 5.46 5.46 5.46
5 yrs 5.56 5.56 5.56

Interest payable quarterly

$20,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a.
6 mths 5.07 5.17 5.17
9 mths 5.09 5.33 5.33
1 yr 5.15 5.39 5.39
18 mths 5.29 5.29 5.39
24 mths 5.49 5.49 5.49
30 mths 5.49 5.49 5.49
36 mths 5.53 5.53 5.53
4 yrs 5.49 5.49 5.49
5 yrs 5.58 5.58 5.58

Dated at Wellington this 7th day of July 2004.

PAT WAITE, Chief Executive, Public Trust.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 87


Gazette.govt.nz — PDF NZ Gazette 2004, No 87




✨ LLM interpretation of page content

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

💰 Finance & Revenue
7 July 2004
Interest Rates, Public Trust, Common Fund, Deposits
  • PAT WAITE, Chief Executive, Public Trust