Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 13) Order 1999
- Act Code: TA1967-S215-1999
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Legislative Power Used: Powers conferred by section 86 of the Trustees Act
- Enacting Date / Made Date: 17 May 1999
- Commencement Date: Not specified in the extract (typically effective upon making/notification unless otherwise stated)
- SL Number: SL 215/1999
- Status: Current version as at 27 Mar 2026 (per the legislation portal extract)
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
- Authorised Scheme Declared: United Global Portfolios
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 13) Order 1999 is a short piece of subsidiary legislation made under the Trustees Act (Cap. 337). Its practical purpose is to formally “declare” a particular collective investment arrangement—specifically, a unit trust scheme—as an authorised unit trust scheme for the purposes of the Trustees Act.
In plain terms, the Order does not regulate the internal operations of the unit trust scheme itself in the way a full regulatory code would. Instead, it performs a gatekeeping function: it identifies which unit trust scheme(s) qualify for certain legal consequences under the Trustees Act. Once a scheme is declared “authorised,” trustees and other market participants can rely on that status when considering whether the scheme is permissible within the framework of their statutory duties and powers.
Because the Order is made under section 86 of the Trustees Act, it sits within a broader legislative architecture. The Trustees Act governs, among other things, the administration of trust property and the circumstances in which trustees may invest or deal with trust assets. The “authorised unit trust scheme” designation is one of the mechanisms by which the law provides clarity and legal certainty to trustees and their advisers.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited: the “Trustees (Authorised Unit Trust Scheme) (No. 13) Order 1999.” While this is standard legislative drafting, citation provisions matter in practice for referencing the correct instrument in compliance documents, legal opinions, and regulatory filings.
Section 2 (Authorised unit trust scheme) is the substantive provision. It declares that United Global Portfolios is hereby “declared as an authorised unit trust scheme for the purpose of the Act.” This declaration is the legal trigger that confers the scheme’s authorised status under the Trustees Act.
From a practitioner’s perspective, the key point is that the Order is not merely descriptive; it is constitutive. The declaration is what makes the scheme “authorised” in the legal sense contemplated by the Trustees Act. Accordingly, when trustees, trust companies, or their counsel evaluate investment options, they must check whether the relevant unit trust scheme has been declared authorised by an appropriate order (or is otherwise authorised under the relevant statutory framework).
Enacting formula and ministerial authority. The Order states that it is made “in exercise of the powers conferred by section 86 of the Trustees Act,” and it is made by the Minister for Law. This matters for validity and administrative law considerations. If a trustee’s reliance on authorised status is later challenged, the legal basis for the declaration—namely, the statutory power under section 86—will be central to the defence of the scheme’s authorised character.
Making date and formalities. The Order records that it was made on 17 May 1999 by the Permanent Secretary, Ministry of Law (GOH KIM LEONG). While these are procedural details, they can be relevant when verifying the authenticity of the instrument, determining the timeline of authorisation, and confirming whether any subsequent amendments or re-declarations have occurred.
How Is This Legislation Structured?
This Order is extremely concise and is structured as a short instrument with an enacting formula and two operative provisions.
Enacting formula: It identifies the statutory power under the Trustees Act and the authority of the Minister for Law to make the Order.
Section 1: Citation.
Section 2: The declaration of the authorised unit trust scheme (United Global Portfolios).
Notably, the extract does not show additional parts, schedules, conditions, or procedural requirements within the Order itself. That is typical for “authorisation by declaration” instruments: the detailed regulatory requirements (if any) are usually found in the primary Act and in other sectoral legislation governing unit trusts, licensing, prospectuses, and ongoing compliance.
Who Does This Legislation Apply To?
The Order applies to the extent that the Trustees Act uses the concept of an “authorised unit trust scheme.” In practical terms, that means it is relevant to trustees (including professional trustees and trust companies) who must comply with statutory rules when investing trust assets or dealing with trust property. It is also relevant to advisers and compliance officers who advise trustees on permissible investments.
It also indirectly affects unit trust scheme operators and distributors, because authorised status can influence whether trustees are willing or able to include the scheme within their portfolios under the Trustees Act framework. However, the Order itself is not addressed to the scheme operator; it is a declaration for the purposes of the Act.
Why Is This Legislation Important?
Although the Order is short, its importance is significant for trust administration and investment governance. Trustees operate under fiduciary duties and statutory constraints. When the law provides a category of “authorised unit trust schemes,” it offers a legally recognised pathway for trustees to invest in unit trusts without having to re-litigate permissibility each time they consider a particular scheme.
For practitioners, the authorised status of a unit trust scheme can be decisive in:
- Investment policy statements and internal governance frameworks (what trustees may hold);
- Due diligence and legal opinions (whether the scheme falls within the statutory category);
- Trustee compliance monitoring (ensuring holdings remain within authorised categories);
- Audit and regulatory readiness (demonstrating that investments were permissible at the relevant time).
From an enforcement and risk perspective, the main practical consequence is that trustees who invest in unit trust schemes that are not authorised (or not authorised at the relevant time) may face compliance breaches, potential challenges to the propriety of investments, and increased exposure in disputes. Conversely, where the scheme is properly declared authorised, trustees can rely on that statutory designation as part of their compliance posture.
Finally, because the Order is “current version as at 27 Mar 2026” (per the portal extract), practitioners should still verify whether the authorisation remains effective and whether any later orders have superseded or amended the authorisation. In practice, authorised status can be affected by later legislative changes, re-authorisations, or scheme restructuring. The correct approach is to check the latest version and the legislation timeline when advising.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 86 (the enabling provision for making orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 13) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.