27 NOVEMBER 2008 NEW ZEALAND GAZETTE, No. 182

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 20 November 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 25 November 2008 but otherwise operate as from 26 November 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 26 November 2008; but

(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 26 November 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 5.15
Total deposits in range $350,001 to $1,000,000 5.55
Total deposits in range $1,000,001 to $3,000,000 5.95
Total deposits exceed $3,000,001 6.55

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- $10,000-    $50,000-    $250,000+
    $9,999  $49,999 $249,999    % p.a.
    % p.a.  % p.a.  % p.a.

3 mths 5.00 5.55 5.55 5.55
6 mths 5.00 5.60 5.60 5.60
9 mths 5.00 5.40 5.40 5.40
1 yr 5.00 5.20 5.20 5.20
18 mths 5.00 5.25 5.25 5.25
24 mths 5.00 5.25 5.25 5.25
30 mths 5.00 5.20 5.20 5.20
36 mths 5.00 5.25 5.25 5.25
4 yrs 5.00 5.35 5.35 5.35
5 yrs 5.00 5.40 5.40 5.40

Interest payable monthly and quarterly

    $20,000-$49,999 $50,000-$249,999    $250,000+
    % p.a.      % p.a.      % p.a.

6 mths 5.60 5.60 5.60
9 mths 5.40 5.40 5.40
1 yr 5.20 5.20 5.20
18 mths 5.25 5.25 5.25
24 mths 5.25 5.25 5.25
30 mths 5.20 5.20 5.20
36 mths 5.25 5.25 5.25
4 yrs 5.35 5.35 5.35
5 yrs 5.40 5.40 5.40

Dated at Wellington this 25th day of November 2008.

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

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The Treasury

Public Finance Act 1989

Statement of Guarantees Given Under the Public Finance Act 1989

Pursuant to section 65ZD(3) of the Public Finance Act 1989, Peter Mersi, Acting Secretary to the Treasury, makes the following statement: