✨ Public Trust Interest Rates
NEW ZEALAND GAZETTE, No. 29 — 7 APRIL 2016
(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 22 March 2016 is revoked.
(2) Unless otherwise specified, the rates of interest specified in Schedules 1 and 2 to this notice do not apply to any period that ends with 4 April 2016 but otherwise operate as from 5 April 2016.
(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 5 April 2016; but
(ii) do apply to investment deposits repayable at the end of a fixed term that commenced on or after 5 April 2016.
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 | 1.00 |
| Call deposits | 1.00 |
| Funeral Trust Cash Fund | 1.00 |
| Investment deposits at call | 1.00 |
| Sinking funds deposits | 1.00 |
| Rating deposits | 1.00 |
| Trust deposits | 1.00 |
Schedule 2
Rates of interest payable on each protection deposit associated with a particular Private Training Establishment
| % p.a. | |
|---|---|
| All deposits | 1.25 |
Schedule 3
Rates of interest payable on investment deposits repayable at the end of a fixed term
Interest payable on maturity, monthly or quarterly
| Fixed Term | % p.a. |
|---|---|
| 3 months | 1.20 |
| 6 months | 1.20 |
| 9 months | 1.20 |
| 1 year | 1.20 |
| 18 months | 1.20 |
| 24 months | 1.20 |
| 30 months | 1.20 |
| 36 months | 1.20 |
| 4 years | 1.20 |
| 5 years | 1.20 |
Dated at Wellington this 5th day of April 2016.
MONIQUE TWORT, General Manager, Business Customers.
2016-au1910
Delegated Legislation
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NZ Gazette 2016, No 29
✨ LLM interpretation of page content
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The Public Trust Common Fund Interest Rates Notice 5 April 2016
(continued from previous page)
💰 Finance & Revenue5 April 2016
Public Trust, Common Fund, Interest Rates, Deposits, Investment Deposits, Protection Deposits, Special Deposits, Trust Deposits
- Monique Twort, General Manager, Business Customers