The following notice is given pursuant to section 37 of the Public Trust Office Act 1957 and sections 28 and 41 of the State Sector Act 1988.
N o t i c e
1. Title and commencement-This notice may be cited as the Public Trust Office (Investment Agencies in the Common Fund) Notice 6 July 2000 and shall take effect from and including the 6th day of July 2000.
2. Interest rates on investment agencies-The rate of interest that may be paid by the Public Trustee on moneys invested by the Public Trustee as agent of any principal in the common fund of the Public Trust Office (referred to in this notice as "agencies") pursuant to section 37 of the Public Trust Office Act 1957 shall, for the following terms and inclusive dollar ranges, be:
Term and (where applicable) Dollar Range % interest
rate p.a.
(a) At call 4.25
(b) For a fixed term of 3 months:
(i) For the range $5,000 to $9,999 5.90
(ii) For the range $10,000 to $49,999 6.15
(iii) For the range $50,000 to $249,999 6.40
(iv) For the range above $249,999 6.50
(c) For a fixed term of 6 months:
(i) For the range $5,000 to $9,999 6.15
(ii) For the range $10,000 to $49,999 6.30
(iii) For the range $50,000 to $249,999 6.50
(iv) For the range above $249,999 6.60
(d) For a fixed term of 9 months:
(i) For the range $5,000 to $9,999 6.25
(ii) For the range $10,000 to $49,999 6.40
(iii) For the range $50,000 to $249,999 6.60
(iv) For the range above $249,999 6.70
(e) For a fixed term of 12 months:
(i) For the range $5,000 to $9,999 6.50
(ii) For the range $10,000 to $49,999 6.70
(iii) For the range $50,000 to $249,999 6.80
(iv) For the range above $249,999 6.90
3. Transitional provisions-(1) Paragraph 2 of this notice shall not apply to any interest payable in respect of the period that ends with the 5th day of July 2000.
(2) Paragraph 2 (a) of this notice shall apply:
(i) to agencies that commenced prior to the 6th day of July 2000, as from that date;
(ii) to agencies that commenced on or after the 6th day of July 2000, as from the date of their commencement.
(3) Paragraphs 2 (b) to 2 (e) inclusive of this notice:
(i) shall not apply to agencies that commenced prior to the 6th day of July 2000; but
(ii) shall apply to agencies that commence on or after the 6th day of July 2000, as from the date of their commencement.
4. Revocation-The Public Trust Office (Investment Agencies in Common Fund) Notice 22 June 2000,
New Zealand Gazette, page 1488, is hereby revoked.
Dated at Wellington this 4th day of July 2000.
Signed for and on behalf of the Secretary to the Treasury by:
MICHAEL JAMES, Director, Energy/SOEs/Treaty Directorate.