The following notice is given pursuant to section 37 of the Public Trust Office Act 1957 and sections 29 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 8 November 2001 and shall take effect from and including 8 November 2001.
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 3.50
(b) For a fixed term of 3 months:
(i) For the range $5,000 to $9,999 4.65
(ii) For the range $10,000 to $49,999 4.70
(iii) For the range $50,000 to $249,999 4.75
(iv) For the range above $249,999 4.80
(c) For a fixed term of 6 months:
(i) For the range $5,000 to $9,999 4.65
(ii) For the range $10,000 to $49,999 4.75
(iii) For the range $50,000 to $249,999 4.80
(iv) For the range above $249,999 4.80
(d) For a fixed term of 9 months:
(i) For the range $5,000 to $9,999 4.65
(ii) For the range $10,000 to $49,999 4.75
(iii) For the range $50,000 to $249,999 4.80
(iv) For the range above $249,999 4.80
(e) For a fixed term of 12 months:
(i) For the range $5,000 to $9,999 4.65
(ii) For the range $10,000 to $49,999 4.75
(iii) For the range $50,000 to $249,999 4.80
(iv) For the range above $249,999 4.80
3. Transitional provisions-(1) Paragraph 2 of this notice shall not apply to any interest payable in respect of the period that ends with 7 November 2001.
(2) Paragraph 2 (a) of this notice shall apply:
(i) to agencies that commenced prior to 8 November 2001, as from that date;
(ii) to agencies that commenced on or after
8 November 2001, 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 8 November 2001; but
(ii) shall apply to agencies that commence on or
after 8 November 2001, as from the date of their commencement.
4. Revocation-The Public Trust Office (Investment Agencies in Common Fund) Notice 1 November 2001, New Zealand Gazette, page 3701, is hereby revoked.
Dated at Wellington this 5th day of November 2001.
Signed for and on behalf of the Secretary to the Treasury by:
DAVID TAYLOR, Manager, Commercial Investments 1, Asset and Liability Management Branch.