New Zealand Gazette – 2005 – No. 161

Page 4033

✨ Public Trust Interest Rates Notice



22 SEPTEMBER 2005

NEW ZEALAND GAZETTE, No. 161

4033

(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 16 June 2005 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 14 September 2005 but otherwise operate as from 15 September 2005.

(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 15 September 2005; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 15 September 2005.

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 5.00
Call deposits 2.75
Investment deposits at call 5.00
Special deposits (effective 15 September 2005) 6.81
Trust deposits 5.00

Schedule 2

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

Total deposits % p.a.
Total deposits do not exceed $350,000 5.00
Total deposits in range $350,001 to $1,750,000 5.40
Total deposits exceed $1,750,000 5.80

Schedule 3

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

Interest payable on maturity

Term $5,000-$9,999 % p.a. $10,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
3 mths 5.00 5.55 5.80 5.95
6 mths 5.50 6.60 6.70 6.70
9 mths 5.50 6.50 6.50 6.65
1 yr 5.50 6.50 6.50 6.55
18 mths 6.00 6.35 6.45 6.50
24 mths 6.00 6.35 6.45 6.45
30 mths 6.00 6.35 6.45 6.45
36 mths 6.00 6.35 6.40 6.40
4 yrs 5.95 6.30 6.35 6.35
5 yrs 5.90 6.25 6.30 6.30

Interest payable monthly

Term $20,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
6 mths 6.51 6.61 6.61
9 mths 6.36 6.36 6.51
1 yr 6.31 6.31 6.36
18 mths 6.17 6.27 6.31
24 mths 6.17 6.27 6.27
30 mths 6.17 6.27 6.27
36 mths 6.17 6.22 6.22
4 yrs 6.13 6.17 6.17
5 yrs 6.08 6.13 6.13

Interest payable quarterly

Term $20,000-$49,999 % p.a. $50,000-$249,999 % p.a. $250,000+ % p.a.
6 mths 6.55 6.64 6.64
9 mths 6.40 6.40 6.54
1 yr 6.35 6.35 6.39
18 mths 6.20 6.30 6.35
24 mths 6.20 6.30 6.30
30 mths 6.20 6.30 6.30
36 mths 6.20 6.25 6.25
4 yrs 6.16 6.20 6.20
5 yrs 6.11 6.16 6.16

Dated at Wellington this 16th day of September 2005.

PAT WAITE, Chief Executive, Public Trust.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 161


Gazette.govt.nz — PDF NZ Gazette 2005, No 161




✨ LLM interpretation of page content

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

🏢 State Enterprises & Insurance
16 September 2005
Interest Rates, Common Fund, Public Trust, Deposits, Schedules
  • PAT WAITE, Chief Executive, Public Trust