✨ Financial Notices
1 JUNE 2006
NEW ZEALAND GAZETTE, No. 51
"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.
- 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.
- Revocation of notice and transitional provisions—
(1) The Public Trust Common Fund Interest Rates Notice
20 April 2006 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 24 May 2006
but otherwise operate as from 25 May 2006.
(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
25 May 2006; but
(ii) do apply to investment deposits repayable at the
end of a fixed term that commenced on or after
25 May 2006.
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 March 2006) | 7.21 |
| 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 | 5.40 |
| Total deposits in range $350,001 to $1,000,000 | 5.80 |
| Total deposits in range $1,000,000 to $3,000,000 | 6.20 |
| Total deposits exceed $3,000,000 | 6.70 |
1291
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 | 5.65 | 5.80 | 5.90 |
| 6 mths | 5.60 | 6.70 | 6.85 | 6.90 |
| 9 mths | 5.60 | 6.80 | 6.90 | 6.90 |
| 1 yr | 5.60 | 6.85 | 6.90 | 6.90 |
| 18 mths | 6.00 | 6.40 | 6.40 | 6.40 |
| 24 mths | 6.00 | 6.35 | 6.40 | 6.40 |
| 30 mths | 6.00 | 6.25 | 6.30 | 6.30 |
| 36 mths | 6.00 | 6.20 | 6.25 | 6.25 |
| 4 yrs | 5.95 | 6.20 | 6.25 | 6.25 |
| 5 yrs | 5.90 | 6.20 | 6.25 | 6.25 |
Interest payable monthly and quarterly
| $20,000-$49,999 | $50,000-$249,999 | $250,000+ | |
|---|---|---|---|
| % p.a. | % p.a. | % p.a. | |
| 6 mths | 6.70 | 6.85 | 6.90 |
| 9 mths | 6.80 | 6.90 | 6.90 |
| 1 yr | 6.85 | 6.90 | 6.90 |
| 18 mths | 6.40 | 6.40 | 6.40 |
| 24 mths | 6.35 | 6.40 | 6.40 |
| 30 mths | 6.25 | 6.30 | 6.30 |
| 36 mths | 6.20 | 6.25 | 6.25 |
| 4 yrs | 6.20 | 6.25 | 6.25 |
| 5 yrs | 6.20 | 6.25 | 6.25 |
Dated at Wellington this 24th day of May 2006.
PAT WAITE, Chief Executive, Public Trust.
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The Treasury
Crown Entities Act 2004
Notice of Approval Given Pursuant to Section 160 (3) of the Crown Entities Act 2004
Pursuant to section 160 (3) and in relation to section 164 of the Crown Entities Act 2004, I, The Honourable Dr Michael Cullen, Minister of Finance, hereby give notice that on 15 May 2006, we, The Honourable Dr Michael Cullen, Minister of Finance, and The Honourable Steve Maharey, Minister of Research, Science and Technology, gave approval, under section 160 (1)(b) of the Crown Entities Act 2004, for
Research and Education Advanced Network New Zealand Limited
to enter into forward foreign exchange transactions with Her Majesty the Queen for the purposes of managing financial risks arising from international cable capacity purchases where payment is denominated in foreign currency.
Dated at Wellington this 15th day of May 2006.
MICHAEL CULLEN, Minister of Finance.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 51
Gazette.govt.nz —
NZ Gazette 2006, No 51
✨ LLM interpretation of page content
🏢
Public Trust Common Fund Interest Rates Notice
(continued from previous page)
🏢 State Enterprises & Insurance24 May 2006
Public Trust, Interest Rates, Common Fund, Notice, Financial Regulations
- PAT WAITE, Chief Executive, Public Trust
💰 Approval for Forward Foreign Exchange Transactions
💰 Finance & Revenue15 May 2006
Crown Entities Act, Financial Approval, Foreign Exchange, Research and Education Advanced Network New Zealand Limited
- The Honourable Dr Michael Cullen, Minister of Finance
- The Honourable Steve Maharey, Minister of Research, Science and Technology