What the official record says
This Act is the Student Loan Scheme (Exemptions and Miscellaneous Provisions) Amendment Act . come into force on 1 April 2010. The rest of this Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Student Loan Scheme Act 1992. Section 2(1) is amended by repealing the definition of and substituting the following definition: means the total interest rate that applies in respect of any tax year, calculated in accordance with the formula— where— is the average, rounded to the nearest 2 decimal places, of the monthly average 10-year government bond yield rates published by the Reserve Bank of New Zealand for the 5 years ending in December in the year that precedes the relevant tax year rounded to the nearest 1 decimal place, is the total inte