Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 10) Order 2002
- Act Code: TA1967-S198-2002
- Legislative Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Legal Basis: Powers under section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 10) Order 2002
- Date Made: 25 April 2002
- Publication/SL Number: SL 198/2002
- Status: Current version as at 27 Mar 2026
- Key Provisions: s. 1 (Citation); s. 2 (Declaration of authorised unit trust scheme)
- Authorised Scheme Named: SingMall Property Trust
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 10) Order 2002 is a short piece of Singapore subsidiary legislation that performs a specific regulatory function: it designates a particular collective investment arrangement as an “authorised unit trust scheme” for the purposes of the Trustees Act. In practical terms, the Order is not a comprehensive regulatory code on its own; rather, it is a gateway instrument that allows the named trust scheme to fall within the statutory framework applicable to authorised unit trust schemes.
Under the Trustees Act, certain unit trust schemes may be authorised by the Minister for Law. Once authorised, the scheme is treated as meeting the statutory criteria and is subject to the legal regime that applies to authorised schemes. This Order therefore matters because it determines whether the SingMall Property Trust is recognised under the Act as an authorised unit trust scheme, which can affect how it is structured, marketed, operated, and supervised.
Because the Order is made under section 83 of the Trustees Act, its scope is tightly linked to the Minister’s power to make declarations. The Order’s operative effect is achieved through a single substantive provision: the declaration of the SingMall Property Trust as an authorised unit trust scheme. The remainder of the instrument is procedural (citation) and administrative (the “made” date and ministerial signature).
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. While this provision is standard in subsidiary legislation, it is important for legal referencing, compliance documentation, and regulatory correspondence. Practitioners typically cite the exact order when discussing the authorisation status of a specific scheme.
Section 2 (Authorised unit trust scheme) is the core operative provision. It states that “The SingMall Property Trust is hereby declared as an authorised unit trust scheme for the purposes of the Act.” This single sentence is legally significant because it confers the statutory label of “authorised unit trust scheme” on the named trust.
In plain language, section 2 answers the question: Is this particular unit trust scheme authorised under the Trustees Act? The answer is yes—at least as at the effective date of the Order and subject to any ongoing conditions, regulatory oversight, or potential future amendments or revocations that may exist within the broader statutory framework. The Order does not itself set out ongoing obligations (such as reporting, valuation, or governance requirements); those obligations arise from the Trustees Act and any subsidiary regulations or directions made under it. However, authorisation is often the prerequisite for those obligations to apply in the manner intended by the statute.
Enacting formula and ministerial power are also relevant to interpretation. The Order expressly states that it is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters for practitioners because it anchors the legality of the declaration in a specific statutory power. If a challenge were ever raised (for example, on grounds of jurisdiction, procedural fairness, or misapplication of statutory criteria), the existence of the express enabling provision would be central to the defence of the Order’s validity.
Made date and formalities (“Made this 25th day of April 2002”) confirm the instrument’s formal enactment. The signature of the Permanent Secretary, Ministry of Law, indicates the official making authority. While these details may appear administrative, they can be important in due diligence and in verifying the authenticity and effective date of the authorisation.
How Is This Legislation Structured?
The Order is extremely concise and consists of an enacting formula plus two numbered provisions. Structurally:
(1) Enacting formula sets out the legal basis for the Minister’s action (section 83 of the Trustees Act) and the fact that the Minister makes the Order.
(2) Section 1 is the citation provision.
(3) Section 2 is the substantive provision declaring the SingMall Property Trust as an authorised unit trust scheme.
There are no schedules, definitions, or detailed compliance requirements within the Order itself. Instead, the Order functions as a declaratory instrument that activates the broader statutory regime under the Trustees Act for the named scheme.
Who Does This Legislation Apply To?
As a targeted authorisation order, the legislation applies primarily to the SingMall Property Trust—the scheme that is declared authorised. The “authorised unit trust scheme” status is relevant to the scheme’s trustee and other persons involved in the operation and management of the trust, because the Trustees Act regime applies to authorised schemes.
In practice, the Order is relevant to:
- Trustees and management responsible for administering the scheme in accordance with the Trustees Act framework for authorised unit trust schemes;
- Distributors/marketing participants who need to ensure that any offering or dealing with units aligns with the legal status of the scheme;
- Investors and counterparties who may rely on the authorisation status as part of their legal and regulatory due diligence.
It is also relevant to regulators and legal advisers because it provides a clear statutory reference point: the scheme is authorised by name through this specific Order. However, the Order does not, by itself, create obligations for persons other than through the operation of the Trustees Act and related regulatory instruments.
Why Is This Legislation Important?
Although the Order is brief, it is important because authorisation is a gatekeeping concept in Singapore’s unit trust regulatory landscape. For practitioners, the authorisation status of a scheme can affect the legal permissibility of activities such as offering units, the applicability of statutory duties, and the supervisory expectations placed on the trustee and scheme operators.
From a compliance and risk perspective, the Order provides certainty: it identifies the SingMall Property Trust as an authorised unit trust scheme for the purposes of the Trustees Act. This can be critical when preparing legal opinions, regulatory submissions, prospectus or disclosure materials, and internal compliance manuals. In due diligence, lawyers often verify whether a scheme is authorised, and if so, by which instrument—this Order supplies that answer.
Enforcement and supervision typically occur under the Trustees Act rather than within the Order itself. Nevertheless, authorisation is often the foundation for regulatory oversight. Once a scheme is authorised, it is generally expected to comply with the statutory framework governing authorised unit trust schemes. Therefore, the Order’s practical impact is that it places the SingMall Property Trust within the statutory category that attracts the relevant legal regime.
Finally, the Order’s “current version as at 27 Mar 2026” status indicates that the text remains in force and is still the operative authorisation instrument for the scheme. Practitioners should still check the legislation timeline for amendments or related instruments, but the provided status suggests that the authorisation declaration remains valid in the consolidated version available as at the stated date.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for making authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 10) Order 2002 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.