Trust deeds

Standard Trust Deed

The standard NZQA trust deed is one where individual student fees are drawn down in arrears. If Public Trust is the trustee, they have their own NZQA-approved deed. For other trustees, the deed listed below must be used.

Static Trust Deed

A static trust is where an amount equal to the maximum liability the PTE would have in the event of course closure is held in trust. The static trust does not rely on student fees being paid into the trust account and there are no periodic drawdowns.

(Refer Appendix B, mechanism 1, of the 2013 Student Fee Protection Rules)

If Public Trust is the trustee, they have their own NZQA-approved deed. For other trustees, the deed listed below must be used.

Bank Bond Trust Deed

A bank bond is where the PTE arranges for a bank to cover the maximum liability the PTE would have in the event of a course closure. PTE’s using a bank bond trust mechanism must also use a standard trust mechanism for the refund period.

(Refer Appendix B, mechanism 3 of the 2013 Student Fee Protection Rules.)

If Public Trust is the trustee, they have their own NZQA-approved deed. For other trustees, the deed listed below must be used.

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