Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 11) Order 2001
- Act Code: TA1967-S259-2001
- Legislation Type: Subsidiary legislation (Order)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Date Made: 28 April 2001
- Commencement / Gazette Date (as shown in timeline): 8 May 2001
- Legislative Citation: SL 259/2001 (No. S 259 in the extract)
- Status: Current version as at 27 Mar 2026
- Core Operative Provisions: Sections 1 (Citation) and 2 (Authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 11) Order 2001 is a short but legally significant instrument. In plain terms, it is an official declaration that a particular collective investment arrangement—an “authorised unit trust scheme”—is recognised for the purposes of the Trustees Act. The Order does not create a general regulatory framework by itself; rather, it activates and applies the framework already established in the Trustees Act to a specific scheme.
Unit trust schemes are investment vehicles where investors pool money and hold units representing their interest in the trust’s assets. In Singapore, certain unit trust schemes may be “authorised” under the Trustees Act regime. Authorisation matters because it typically determines whether the scheme can be offered or operated under the statutory conditions and protections that attach to authorised schemes.
This particular Order identifies one scheme by name: the ABN AMRO Star Global Information Society Equity Fund. Once declared authorised, the scheme is treated as an authorised unit trust scheme for the purposes of the Trustees Act. Practitioners should therefore read this Order together with the Trustees Act provisions it enables, because the Order is essentially the “gateway” recognition for that scheme.
What Are the Key Provisions?
Section 1 (Citation) provides the formal short title of the instrument. While this is not substantive regulation, it is important for legal referencing, compliance documentation, and citation in filings, correspondence, and regulatory submissions. For example, when advising on whether a scheme is authorised, counsel will often cite the relevant Order number and year.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that the ABN AMRO Star Global Information Society Equity Fund is declared as an authorised unit trust scheme for the purpose of the Act. This declaration is the legal act that brings the scheme within the statutory authorisation category. In practice, this means the scheme is recognised as meeting the authorisation requirements under the Trustees Act regime (as assessed at the time of authorisation), and it benefits from whatever legal consequences the Act attaches to authorised schemes.
Although the extract contains only Sections 1 and 2, the legal effect is still meaningful. The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” That enabling provision typically empowers the Minister to make orders declaring specific schemes authorised. Therefore, the compliance and legal obligations for the fund will flow primarily from the Trustees Act and any subsidiary regulations or notices made under it—not from the Order itself. The Order’s role is to specify the scheme that is authorised.
Enacting formula and making date confirm the formal authority and timing. The Minister for Law makes the Order, and it is “made this 28th day of April 2001.” The Gazette/timeline indicates SL 259/2001 dated 8 May 2001. For practitioners, the making and gazette dates can matter when assessing historical authorisation status, transitional arrangements, or whether a scheme was authorised at a particular point in time.
How Is This Legislation Structured?
This Order is extremely concise and is structured as a two-section instrument.
Section 1 is purely administrative: it sets out the citation (short title) of the Order.
Section 2 is the substantive declaration. It identifies the specific unit trust scheme by name and declares it authorised for the purposes of the Trustees Act.
There are no schedules, definitions, or detailed compliance requirements in the extract. This is typical of “authorisation orders” under enabling legislation: the detailed regulatory obligations are located in the parent Act and related subsidiary instruments, while the Order performs the scheme-specific authorisation function.
Who Does This Legislation Apply To?
The Order applies to the ABN AMRO Star Global Information Society Equity Fund as a scheme. In legal practice, the direct “subject” of the authorisation is the trust scheme itself, but the practical compliance burden typically falls on the trustee, the manager (if applicable under the Trustees Act framework), and other parties responsible for operating the scheme in accordance with the statutory regime.
Because the Order is made under the Trustees Act, it is also relevant to investors and intermediaries in the distribution chain. Investors may rely on the fact that the scheme is authorised, and distributors may need to ensure they are marketing or offering an authorised scheme rather than an unauthorised one. However, the precise investor-facing consequences depend on the Trustees Act provisions and any related regulatory requirements.
Importantly, the Order does not authorise “similar” schemes or a category of funds; it authorises the scheme identified by name. If the scheme’s name changes, the fund structure is materially altered, or a new series or sub-fund is introduced, practitioners should confirm whether a fresh authorisation order (or an amendment) is required under the Trustees Act regime.
Why Is This Legislation Important?
Even though the Order is short, it is important because authorisation is a legal status with regulatory consequences. In Singapore’s legal landscape, “authorised” schemes are typically subject to a framework intended to protect investors and ensure proper governance, disclosure, and operational standards. By declaring the ABN AMRO Star Global Information Society Equity Fund authorised, the Minister for Law enables the scheme to operate within that statutory framework.
For lawyers advising fund managers, trustees, or distributors, the Order is a key piece of evidence in due diligence and regulatory compliance. It can be used to confirm that the scheme has been formally declared authorised under the Trustees Act, which may affect licensing arrangements, marketing permissions, contractual terms, and investor documentation.
For enforcement and dispute contexts, the Order can also be relevant. If questions arise about whether a scheme was authorised at a particular time, or whether a party acted lawfully in offering units, the authorisation order provides a documentary anchor. The making and gazette dates can be particularly relevant for assessing conduct during a specific period.
Finally, the “current version as at 27 Mar 2026” status indicates that the Order remains in force in the consolidated legislative database. Practitioners should still verify whether there have been amendments, revocations, or replacement orders affecting the scheme, but the status suggests that the authorisation declaration continues to be recognised in the legal record.
Related Legislation
- Trustees Act (Chapter 337) — including section 83 (the enabling provision under which the Minister makes authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 11) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.