✨ Financial and Superannuation Notices
NEW ZEALAND GAZETTE, No. 76
1 JULY 2010
(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.
- Revocation of notice and transitional provisions—
(1) The Public Trust Common Fund Interest Rates Notice 24 June 2010 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 29 June 2010 but otherwise operate as from 30 June 2010.
(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 30 June 2010; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 30 June 2010.
Schedule 1
Rates of interest payable on deposits (other than investment deposits repayable at the end of fixed term or protection deposits)
| Deposit Type | % p.a. |
|---|---|
| Agency deposits $0–$9,999 | 0.90 |
| Agency deposits $10,000–$49,999 | 1.10 |
| Agency deposits $50,000–$249,999 | 1.50 |
| Agency deposits $250,000+ | 2.50 |
| Call deposits $0–$9,999 | 0.90 |
| Call deposits $10,000–$49,999 | 1.10 |
| Call deposits $50,000–$249,999 | 1.50 |
| Call deposits $250,000+ | 2.50 |
| Investment deposits at call $0–$9,999 | 0.90 |
| Investment deposits at call $10,000–$49,999 | 1.10 |
| Investment deposits at call $50,000–$249,999 | 1.50 |
| Investment deposits at call $250,000+ | 2.50 |
| Special deposits (effective 15 June 2010) | 2.84 |
| Trust deposits $0–$9,999 | 0.90 |
| Trust deposits $10,000–$49,999 | 1.10 |
| Trust deposits $50,000–$249,999 | 1.50 |
| Trust deposits $250,000+ | 2.50 |
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 | 1.60 |
| Total deposits in range $350,001 to $1,000,000 | 2.10 |
| Total deposits in range $1,000,001 to $3,000,000 | 2.50 |
| Total deposits exceed $3,000,001 | 3.10 |
Schedule 3
Rates of interest payable on investment deposits repayable at the end of a fixed term
Interest payable on maturity, monthly or quarterly
| Term | $5,000-$9,999 % p.a. | $10,000-$49,999 % p.a. | $50,000-$249,999 % p.a. | $250,000+ % p.a. |
|---|---|---|---|---|
| 3 mths | 2.80 | 3.30 | 3.30 | 3.30 |
| 6 mths | 2.80 | 4.20 | 4.20 | 4.20 |
| 9 mths | 2.80 | 4.45 | 4.45 | 4.45 |
| 1 yr | 3.85 | 4.50 | 4.50 | 4.50 |
| 18 mths | 3.95 | 5.00 | 5.00 | 5.00 |
| 24 mths | 4.05 | 5.15 | 5.15 | 5.15 |
| 30 mths | 4.15 | 5.35 | 5.35 | 5.35 |
| 36 mths | 4.30 | 5.50 | 5.50 | 5.50 |
| 4 yrs | 4.55 | 5.75 | 5.75 | 5.75 |
| 5 yrs | 4.65 | 5.90 | 5.90 | 5.90 |
Interest payable monthly and quarterly
| Term | $20,000-$49,999 % p.a. | $50,000-$249,999 % p.a. | $250,000+ % p.a. |
|---|---|---|---|
| 6 mths | 4.20 | 4.20 | 4.20 |
| 9 mths | 4.45 | 4.45 | 4.45 |
| 1 yr | 4.50 | 4.50 | 4.50 |
| 18 mths | 5.00 | 5.00 | 5.00 |
| 24 mths | 5.15 | 5.15 | 5.15 |
| 30 mths | 5.35 | 5.35 | 5.35 |
| 36 mths | 5.50 | 5.50 | 5.50 |
| 4 yrs | 5.75 | 5.75 | 5.75 |
| 5 yrs | 5.90 | 5.90 | 5.90 |
Dated at Wellington this 29th day of June 2010.
DAVID GORDON, Head of Financial Products, Public Trust.
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The Treasury
New Zealand Superannuation and Retirement Income Act 2001
Appointment of Board Member of the Guardians of New Zealand Superannuation
ANAND SATYANAND, Governor-General
Pursuant to section 54 of the New Zealand Superannuation and Retirement Income Act 2001, I, the Honourable Sir Anand Satyanand GNZM, QSO, Governor-General of New Zealand, hereby appoint
Gavin Ronald Walker
as a member of the board of the Guardians of New Zealand Superannuation for a term of three years commencing 1 July 2010.
Given under the hand of His Excellency the Governor-General of New Zealand and issued this 23rd day of June 2010.
HON BILL ENGLISH, Minister of Finance.
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NZ Gazette 2010, No 76
✨ LLM interpretation of page content
🏢 Public Trust Common Fund Interest Rates Notice
🏢 State Enterprises & Insurance29 June 2010
Interest rates, Public Trust, Deposits, Schedules
- DAVID GORDON, Head of Financial Products, Public Trust
💰 Appointment of Board Member of the Guardians of New Zealand Superannuation
💰 Finance & Revenue23 June 2010
Superannuation, Board appointment, Guardians of New Zealand Superannuation
- Gavin Ronald Walker, Appointed as board member
- ANAND SATYANAND, Governor-General
- HON BILL ENGLISH, Minister of Finance