✨ Financial and Social Development Notices
NEW ZEALAND GAZETTE, No. 77
5 JULY 2007
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 28 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 27 June 2007 but otherwise operate as from 28 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 28 June 2007; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 28 June 2007.\n
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 | % 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
| Term | $5,000-$9,999 | $10,000-$49,999 | $50,000-$249,999 | $250,000+ |
|---|---|---|---|---|
| % p.a. | % p.a. | % p.a. | % p.a. | |
| 3 mths | 5.85 | 6.60 | 6.60 | 6.60 |
| 6 mths | 5.75 | 7.90 | 7.90 | 7.90 |
| 9 mths | 5.80 | 8.00 | 8.00 | 8.00 |
| 1 yr | 6.05 | 8.15 | 8.15 | 8.15 |
| 18 mths | 6.00 | 8.00 | 8.00 | 8.00 |
| 24 mths | 6.00 | 7.80 | 7.80 | 7.80 |
| 30 mths | 6.00 | 7.80 | 7.80 | 7.80 |
| 36 mths | 6.00 | 7.80 | 7.80 | 7.80 |
| 4 yrs | 6.00 | 7.80 | 7.80 | 7.80 |
| 5 yrs | 6.00 | 7.80 | 7.80 | 7.80 |
Interest payable monthly and quarterly
| Term | $20,000-$49,999 | $50,000-$249,999 | $250,000+ |
|---|---|---|---|
| % p.a. | % p.a. | % p.a. | |
| 6 mths | 7.90 | 7.90 | 7.90 |
| 9 mths | 8.00 | 8.00 | 8.00 |
| 1 yr | 8.15 | 8.15 | 8.15 |
| 18 mths | 8.00 | 8.00 | 8.00 |
| 24 mths | 7.80 | 7.80 | 7.80 |
| 30 mths | 7.80 | 7.80 | 7.80 |
| 36 mths | 7.80 | 7.80 | 7.80 |
| 4 yrs | 7.80 | 7.80 | 7.80 |
| 5 yrs | 7.80 | 7.80 | 7.80 |
Dated at Wellington this 29th day of June 2007.
GRENVILLE GASKELL, Chief Executive, Public Trust.
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Social Development
Social Security Act 1964
Instrument Amending Ministerial Directions and Welfare Programmes (No. 3) 2007
Pursuant to section 5 and section 124(1)(d) of the Social Security Act 1964, the Minister for Social Development and Employment makes the following amendments to the directions and welfare programmes set out in the Schedule.
Dated at Wellington this 25th day of June 2007.
HON. DAVID BENSON-POPE, Minister for Social Development and Employment.
Instrument
-
Title—This instrument is the Instrument amending Ministerial Directions and Welfare Programmes (No. 3) 2007.
-
Commencement—This instrument comes into effect on the day after the date on which it is signed by the Minister.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2007, No 77
Gazette.govt.nz —
NZ Gazette 2007, No 77
✨ LLM interpretation of page content
🏢
Public Trust Common Fund Interest Rates Notice
(continued from previous page)
🏢 State Enterprises & Insurance29 June 2007
Public Trust, Interest Rates, Common Fund, Deposits, Schedules
- Grenville Gaskell, Chief Executive, Public Trust
🏥 Instrument Amending Ministerial Directions and Welfare Programmes
🏥 Health & Social Welfare25 June 2007
Social Security Act, Ministerial Directions, Welfare Programmes
- Hon. David Benson-Pope, Minister for Social Development and Employment