✨ Financial and Social Development Notices
NEW ZEALAND GAZETTE, No. 124
23 SEPTEMBER 2010
(i) do not apply to investment deposits repayable at the end of a fixed term that commenced prior to 15 September 2010; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 15 September 2010.
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 $0–$9,999 | 1.05 |
| Agency deposits $10,000–$49,999 | 1.25 |
| Agency deposits $50,000–$249,999 | 1.70 |
| Agency deposits $250,000+ | 2.50 |
| Call deposits $0–$9,999 | 1.05 |
| Call deposits $10,000–$49,999 | 1.25 |
| Call deposits $50,000–$249,999 | 1.70 |
| Call deposits $250,000+ | 2.50 |
| Funeral Trust Cash Fund (effective 2 August 2010) | 1.10 |
| Investment deposits at call $0–$9,999 | 1.05 |
| Investment deposits at call $10,000–$49,999 | 1.25 |
| Investment deposits at call $50,000–$249,999 | 1.70 |
| Investment deposits at call $250,000+ | 2.50 |
| Special deposits (effective 15 September 2010) | 2.99 |
| Trust deposits $0–$9,999 | 1.05 |
| Trust deposits $10,000–$49,999 | 1.25 |
| Trust deposits $50,000–$249,999 | 1.70 |
| Trust deposits $250,000+ | 2.50 |
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 | 1.90 |
| Total deposits in range $350,001 to $1,000,000 | 2.40 |
| Total deposits in range $1,000,001 to $3,000,000 | 2.80 |
| Total deposits exceed $3,000,001 | 3.40 |
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 % p.a. | $10,000-$49,999 % p.a. | $50,000-$249,999 % p.a. | $250,000+ % p.a. |
| --- | --- | --- | --- |
| 3 mths | 2.75 | 3.20 | 3.25 | 3.30 |
| 6 mths | 2.80 | 3.80 | 3.85 | 3.90 |
| 9 mths | 2.80 | 4.70 | 4.70 | 4.70 |
| 1 yr | 3.70 | 4.20 | 4.25 | 4.30 |
| 18 mths | 3.80 | 5.05 | 5.05 | 5.05 |
| 24 mths | 3.85 | 4.95 | 5.00 | 5.05 |
| 30 mths | 3.90 | 5.20 | 5.25 | 5.25 |
| 36 mths | 3.95 | 5.25 | 5.25 | 5.25 |
| 4 yrs | 4.10 | 5.50 | 5.50 | 5.50 |
| 5 yrs | 4.15 | 5.75 | 5.75 | 5.75 |
Interest payable monthly and quarterly
| $20,000-$49,999 % p.a. | $50,000-$249,999 % p.a. | $250,000+ % p.a. | |
|---|---|---|---|
| 6 mths | 3.80 | 3.85 | 3.90 |
| 9 mths | 4.70 | 4.70 | 4.70 |
| 1 yr | 4.20 | 4.25 | 4.30 |
| 18 mths | 5.05 | 5.05 | 5.05 |
| 24 mths | 4.95 | 5.00 | 5.05 |
| 30 mths | 5.20 | 5.25 | 5.25 |
| 36 mths | 5.25 | 5.25 | 5.25 |
| 4 yrs | 5.50 | 5.50 | 5.50 |
| 5 yrs | 5.75 | 5.75 | 5.75 |
Dated at Wellington this 21st day of September 2010.
DAVID GORDON, Head of Financial Products, Public Trust.
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Social Development
Social Security Act 1964
Ministerial Direction—Disability Allowance Amendment 2010
To: The Chief Executive of the Ministry of Social Development
Pursuant to section 5 of the Social Security Act 1964, the Minister for Social Development and Employment makes the following instrument amending the Ministerial Direction – Disability Allowance given on 28 March 1999*.
Instrument
-
Title—This instrument is the Ministerial Direction – Disability Allowance Amendment 2010.
-
Commencement—This instrument comes into effect on the day that it is signed.
-
Direction amended—This instrument amends the Ministerial Direction – Disability Allowance.
-
Verification—The following clause is inserted after clause 3:
"3A For the purpose of clause 3(b), you may, at any time before the close of 31 December 2010, disregard any increase in an expense of an amount that you reasonably consider to be a result of the rate of goods and services tax increasing on 1 October 2010."
Dated at Wellington this 13th day of September 2010.
HON PAULA BENNETT, Minister for Social Development and Employment.
Explanatory Note
This note is not part of the instrument, but is intended to indicate its general effect.
This instrument amends the Ministerial Direction – Disability Allowance to permit the chief executive, when reviewing a person’s entitlement to a disability allowance at any time before the close of 31 December 2010, to not require written verification of an amount that the chief executive reasonably considers to be a result of the rate of goods and services tax increasing on 1 October 2010.
This instrument comes into effect on the day that it is signed.
New Zealand Gazette, 1 April 1999, No. 41, page 983
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NZ Gazette 2010, No 124
✨ LLM interpretation of page content
💰
Public Trust Common Fund Interest Rates Notice
(continued from previous page)
💰 Finance & Revenue21 September 2010
Interest Rates, Public Trust, Common Fund, Deposits, Investment, Protection, Funeral Trust, Special Deposits, Trust Deposits
- DAVID GORDON, Head of Financial Products, Public Trust
🏥 Ministerial Direction—Disability Allowance Amendment 2010
🏥 Health & Social Welfare13 September 2010
Disability Allowance, Amendment, Ministerial Direction, Social Security Act 1964, GST Increase
- HON PAULA BENNETT, Minister for Social Development and Employment