Administration (Prescribed Rate of Interest) Order 2011: revoked, on 1 January 2018, pursuant to section 29 of the Interest on Money Claims Act 2016 (2016 No 51).

Anand Satyanand, Governor-General

Order in Council

At Wellington this 23rd day of May 2011

Present:
His Excellency the Governor-General in Council

Note

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

This order is administered by the Ministry of Justice.

Pursuant to section 39(2)(b) of the Administration Act 1969 of the Administration Act 1969, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following order.

1	Title
2	Commencement
3	Application
4	Rate of interest of 5.0% prescribed
5	Revocation
	Explanatory note
	Gazette Information
	Notes

Order

1 Title

This order is the Administration (Prescribed Rate of Interest) Order 2011.

2 Commencement

This order comes into force on 1 July 2011.

3 Application

This order applies to all legacies, and to all arrears of annuities, unpaid at the close of 30 June 2011.

4 Rate of interest of 5.0% prescribed

This clause prescribes for the purposes of section 39(2)(b) of the Administration Act 1969 the rate of 5.0% per year.

5 Revocation

The Administration (Prescribed Rate of Interest) Order 2008 (SR 2008/142) is revoked.

Michael Webster,
for Clerk of the Executive Council.

Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 1 July 2011, decreases from 8.4% to 5.0% the rate of interest payable on unpaid legacies and arrears of annuities under section 39(2)(b) of the Administration Act 1969.

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 26 May 2011.

Notes

1 General

This is a consolidation of the Administration (Prescribed Rate of Interest) Order 2011 that incorporates the amendments made to the legislation so that it shows the law as at its stated date.

2 Legal status

A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.

Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.

3 Editorial and format changes

The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.

4 Amendments incorporated in this consolidation

Interest on Money Claims Act 2016 (2016 No 51): section 29

Administration (Prescribed Rate of Interest) Order 2011