These Rules are made under section 452 of the Education and Training Act 2020 by the Board of NZQA and the Minister of Education.
If you prefer you can download these rules as a PDF:
Student Funds Trust Deposit Exemption Rules 2026 [PDF, 452 KB]
What’s changed
The 2026 rules raise the amount of funds exempt from the requirement for student funds to be deposited with an independent trustee to $1000 (including GST).
1. Title
These are the Student Funds Trust Deposit Exemption Rules 2026.
On this page
2. Commencement
These Rules come into force on 19 January 2026.
3. Interpretation
In these Rules, unless the context otherwise requires:
Act means the Education and Training Act 2020
funds includes all components of any fee payable by or on behalf of a student (for example, a component includes accommodation costs and agents’ commissions)
independent trustee has the same meaning as in section 10(1) of the Act
micro-credential has the same meaning as in section 10(1) of the Act
programme has the same meaning as in section 10(1) of the Act
PTE means a private training establishment as defined in section 10(1) of the Act.
4. Exemptions
- Programmes and micro-credentials of the kind prescribed in rule 4.2 are, for the purposes of section 356(5)(a) of the Act, exempt from the requirement in section 356(1) of the Act for the funds paid by or on behalf of students to be deposited with an independent trustee approved by the New Zealand Qualifications Authority.
- The programmes and micro-credentials prescribed for the purposes of rule 4.1 are those for which the total funds payable by or on behalf of a student for the programme or micro-credential is $1000 (GST inclusive) or less.
5. Revocation
- The Student Funds Trust Deposit Exemption Rules 2022 are revoked.
Explanatory note
This note is not part of these Rules, but is intended to indicate their general effect.
These Rules prescribe an exemption for low value programmes and micro-credentials from the requirement in section 356(1) of the Act for the funds paid by or on behalf of students to be deposited with an independent trustee approved by the New Zealand Qualifications Authority.
About secondary legislation
This is secondary legislation issued under the authority of the Legislation Act 2019 (external link).
| Title | Student Funds Trust Deposit Exemption Rules 2026 |
| Principal or amendment | Principal |
| Consolidated version | No |
| Empowering Act and provisions |
Education and Training Act 2020, Section 452(1)(u) |
| Replacement empowering Act and provisions | Not applicable |
| Maker name | Board of NZQA and the Minister of Education |
| Administering agency | New Zealand Qualifications Authority (NZQA) |
| Date made | 19 December 2025 |
| Publication date | 22 December 2025 |
| Notification date | Not applicable |
| Commencement date | 19 January 2026 |
| End date (when applicable) | Not applicable |
| Consolidation as at date | Not applicable |
| Related instruments | Not applicable |