New Zealand Gazette – 2008 – No. 143

Page 3898

✨ Regulatory Notices



3898 NEW ZEALAND GAZETTE, No. 143 25 SEPTEMBER 2008

“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.

  1. 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.

  2. Revocation of notice and transitional provisions—
    (1) The Public Trust Common Fund Interest Rates Notice
    18 September 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 23 September
    2008 but otherwise operate as from 24 September 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
    24 September 2008; but
    (ii) do apply to investment deposits repayable at the
    end of a fixed term that commenced on or after
    24 September 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 5.00
Call deposits 2.75
Investment deposits at call 5.00
Special deposits (effective 15 September 2008) 7.49
Trust deposits 5.00

Schedule 2

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

% p.a.
Total deposits do not exceed $350,000 5.80
Total deposits in range $350,001 to $1,000,000 6.20
Total deposits in range $1,000,001 to $3,000,000 6.60
Total deposits exceed $3,000,001 7.10

Schedule 3

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

Interest payable on maturity, monthly or quarterly

$5,000-$9,999 $10,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a. % p.a.
3 mths 5.50 7.00 7.00 7.00
6 mths 5.50 7.20 7.20 7.20
9 mths 5.50 7.05 7.05 7.05
1 yr 5.50 6.85 6.85 6.85
18 mths 5.50 6.65 6.65 6.65
24 mths 5.50 6.45 6.45 6.45
30 mths 5.50 6.40 6.40 6.40
36 mths 5.50 6.35 6.35 6.35
4 yrs 5.50 6.35 6.35 6.35
5 yrs 5.50 6.35 6.35 6.35

Interest payable monthly and quarterly

$20,000-$49,999 $50,000-$249,999 $250,000+
% p.a. % p.a. % p.a.
6 mths 7.20 7.20 7.20
9 mths 7.05 7.05 7.05
1 yr 6.85 6.85 6.85
18 mths 6.65 6.65 6.65
24 mths 6.45 6.45 6.45
30 mths 6.40 6.40 6.40
36 mths 6.35 6.35 6.35
4 yrs 6.35 6.35 6.35
5 yrs 6.35 6.35 6.35

Dated at Wellington this 23rd day of September 2008.
MICHELLE OLBRICHT, Secretary of the Pricing
Committee, Public Trust.
go7137

Research, Science & Technology

Foundation for Research, Science, and
Technology Act 1990

Notice of Revocation and Replacement of
Government Priorities Under Section 7(1)
of the Foundation for Research, Science,
and Technology Act 1990

Statement of Science Priorities

Under section 7(1) of the Foundation for Research, Science,
and Technology Act 1990 (“the Act”), the Foundation for



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2008, No 143




✨ LLM interpretation of page content

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

🏢 State Enterprises & Insurance
23 September 2008
Interest Rates, Public Trust, Common Fund, Deposits
  • Michelle Olbricht, Secretary of the Pricing Committee, Public Trust

🎓 Notice of Revocation and Replacement of Government Priorities Under Section 7(1) of the Foundation for Research, Science, and Technology Act 1990

🎓 Education, Culture & Science
Research Priorities, Science Policy, Government Funding