New Zealand Gazette – 2007 – No. 74

Page 1897

✨ Public Trust and Social Development Notices

28 JUNE 2007

NEW ZEALAND GAZETTE, No. 74

"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.\n

4. Revocation of notice and transitional provisions

(1) The Public Trust Common Fund Interest Rates Notice
21 June 2007 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 20 June 2007
but otherwise operate as from 21 June 2007.

(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
21 June 2007; but

(ii) do apply to investment deposits repayable at the
end of a fixed term that commenced on or after
21 June 2007.

Schedule 1

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

Type of Deposit	% p.a.
Agency deposits	5.85
Call deposits	3.60
Investment deposits at call	5.85
Special deposits (effective 15 June 2007)	8.09
Trust deposits	5.85

Schedule 2

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

Total Deposits Range	% p.a.
Total deposits do not exceed $350,000	5.55
Total deposits in range $350,001 to $1,000,000	5.95
Total deposits in range $1,000,001 to $3,000,000	6.35
Total deposits exceed $3,000,001	6.85

Schedule 3

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

Interest payable on maturity

Amount Range	$5,000-$9,999	$10,000-$49,999	$50,000-$249,999	$250,000+
Term	% p.a.	% p.a.	% p.a.	% p.a.
3 mths	5.85	6.55	6.55	6.55
6 mths	5.75	7.75	7.75	7.75
9 mths	5.80	7.85	7.85	7.85
1 yr	6.05	8.15	8.15	8.15
18 mths	6.00	7.70	7.70	7.70
24 mths	6.00	7.60	7.60	7.60
30 mths	6.00	7.60	7.60	7.60
36 mths	6.00	7.60	7.60	7.60
4 yrs	6.00	7.60	7.60	7.60
5 yrs	6.00	7.60	7.60	7.60

Interest payable monthly and quarterly

Amount Range	$20,000-$49,999	$50,000-$249,999	$250,000+
Term	% p.a.	% p.a.	% p.a.
6 mths	7.75	7.75	7.75
9 mths	7.85	7.85	7.85
1 yr	8.15	8.15	8.15
18 mths	7.70	7.70	7.70
24 mths	7.60	7.60	7.60
30 mths	7.60	7.60	7.60
36 mths	7.60	7.60	7.60
4 yrs	7.60	7.60	7.60
5 yrs	7.60	7.60	7.60

Dated at Wellington this 21st day of June 2007.

GRENVILLE GASKELL, Chief Executive, Public Trust.

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Social Development

Social Security Act 1964

Employment Transition Programme Amendment 2007

Pursuant to section 124(1)(d) of the Social Security Act
1964, the Minister for Social Development and Employment
etablishes and approves the following amendment to the
Employment Transition Programme (as established and
approved on 23 June 2005*).

VUW Te Waharoa — NZ Gazette 2007, No 74

Gazette.govt.nz — NZ Gazette 2007, No 74

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

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

Domain🏢 State Enterprises & Insurance
Dated21 June 2007
KeywordsPublic Trust, Common Fund, Interest Rates, Deposits, Schedules
👩‍💼 Officials

GRENVILLE GASKELL, Chief Executive, Public Trust

👷 Employment Transition Programme Amendment 2007

Domain👷 Labour & Employment
KeywordsSocial Security Act 1964, Employment Transition Programme, Amendment
👩‍💼 Officials

Minister for Social Development and Employment

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