New Zealand Gazette – 2008 – No. 131

Page 3414

✨ Public Trust and Research Notices

NEW ZEALAND GAZETTE, No. 131

21 AUGUST 2008

"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.

4. Revocation of notice and transitional provisions

(1) The Public Trust Common Fund Interest Rates Notice 14 August 2008 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 12 August 2008 but otherwise operate as from 13 August 2008.

(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 13 August 2008; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 13 August 2008.

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	5.70
Call deposits	3.50
Investment deposits at call	5.70
Special deposits (effective 16 June 2008)	8.40
Trust deposits	5.70

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	6.40
Total deposits in range $350,001 to $1,000,000	6.80
Total deposits in range $1,000,001 to $3,000,000	7.20
Total deposits exceed $3,000,001	7.70

Schedule 3

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

Interest payable on maturity, monthly or quarterly

Term	$5,000-$9,999	$10,000-$49,999	$50,000-$249,999	$250,000+
3 mths	5.50	7.30	7.30	7.30
6 mths	5.50	7.75	7.75	7.75
9 mths	5.50	7.50	7.50	7.50
1 yr	5.50	7.30	7.30	7.30
18 mths	5.50	7.10	7.10	7.10
24 mths	5.50	6.90	6.90	6.90
30 mths	5.50	6.80	6.80	6.80
36 mths	5.50	6.80	6.80	6.80
4 yrs	5.50	6.75	6.75	6.75
5 yrs	5.50	6.70	6.70	6.70

Interest payable monthly and quarterly

Term	$20,000-$49,999	$50,000-$249,999	$250,000+
6 mths	7.75	7.75	7.75
9 mths	7.50	7.50	7.50
1 yr	7.30	7.30	7.30
18 mths	7.10	7.10	7.10
24 mths	6.90	6.90	6.90
30 mths	6.80	6.80	6.80
36 mths	6.80	6.80	6.80
4 yrs	6.75	6.75	6.75
5 yrs	6.70	6.70	6.70

Dated at Wellington this 15th day of August 2008.

MICHELLE OLBRICHT, Secretary of the Pricing Committee, Public Trust.

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Research, Science and Technology

Foundation for Research, Science, and Technology Act 1990

Notice of Introduction of a Ministerial Scheme

Under Section 8A of the Foundation for Research, Science, and Technology Act 1990—the International Investment Opportunities Fund

Direction to: The Foundation for Research, Science and Technology (“the foundation”).

Gazette.govt.nz — NZ Gazette 2008, No 131

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏢 Public Trust Common Fund Interest Rates Notice 21 August 2008 (continued from previous page)

Domain🏢 State Enterprises & Insurance
Dated15 August 2008
KeywordsPublic Trust, Common Fund, Interest Rates, Schedules, Deposits
👩‍💼 Officials

Michelle Olbricht, Secretary of the Pricing Committee, Public Trust

🎓 Introduction of International Investment Opportunities Fund

Domain🎓 Education, Culture & Science
KeywordsResearch, Science, Technology, International Investment, Ministerial Scheme

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