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)
- Enacting Authority: Minister for Law
- Legal Basis: Powers under section 86 of the Trustees Act
- Commencement: Not stated in the extract (made on 17 May 1999; published as SL 215/1999)
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Declaration of an authorised unit trust scheme)
- Declared Scheme: United Global Portfolios
- Legislative Instrument Number: SL 215/1999
- Status: Current version as at 27 Mar 2026 (per provided metadata)
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. In practical terms, it performs a single regulatory function: it formally declares a particular collective investment arrangement—“United Global Portfolios”—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In Singapore’s legal framework, trustees often need to invest trust assets in instruments that are permitted or recognised by law. The Trustees Act provides mechanisms for authorising certain unit trust schemes so that trustees can lawfully hold units in those schemes when administering trusts. This Order is one of a series of “authorised unit trust scheme” orders that identify specific schemes that meet the statutory authorisation requirements.
Because the Order is limited in scope, it does not set out a comprehensive regulatory regime for unit trust schemes. Instead, it operates as a legal “gatekeeping” instrument: once a scheme is declared authorised under the Trustees Act, trustees can treat it as eligible for the purposes contemplated by that Act. The detailed regulatory requirements for the scheme itself (for example, licensing, prospectus obligations, and ongoing supervision) are typically found in other financial services legislation and regulatory instruments; this Order is focused on the trustees’ statutory eligibility question.
What Are the Key Provisions?
Section 1 (Citation) provides the short title of the instrument: “Trustees (Authorised Unit Trust Scheme) (No. 13) Order 1999.” For practitioners, this matters mainly for proper legal referencing in correspondence, filings, and legal submissions. Citation provisions are standard in subsidiary legislation and ensure that the instrument can be identified unambiguously.
Section 2 (Authorised unit trust scheme) is the substantive provision. It states 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 links the scheme to the Trustees Act framework.
Although the extract does not reproduce the Trustees Act provisions themselves, the phrase “for the purpose of the Act” indicates that the authorisation has legal consequences within the Trustees Act’s operation. Typically, such consequences relate to trustees’ investment powers and the permissibility of holding units in the declared scheme when acting in a fiduciary capacity. In other words, the Order does not merely describe the scheme; it confers a legal status that trustees can rely upon.
Making date and ministerial authority are also relevant. The Order was “made this 17th day of May 1999” and signed by the Permanent Secretary, Ministry of Law, Singapore (GOH KIM LEONG). The enacting formula states that the Minister for Law makes the Order in exercise of powers conferred by section 86 of the Trustees Act. For lawyers, this confirms the statutory authority and helps validate the instrument’s legal standing.
How Is This Legislation Structured?
This Order is structured in a very streamlined manner, reflecting its narrow purpose. It contains:
(1) An enacting formula that identifies the enabling power (section 86 of the Trustees Act) and the ministerial authority.
(2) A citation section (section 1) that provides the short title.
(3) A single substantive declaration (section 2) that names the authorised unit trust scheme—United Global Portfolios—and declares it authorised for the purposes of the Trustees Act.
There are no schedules, definitions, or detailed conditions in the extract. That is consistent with the function of such orders: they are typically “listing” instruments that add a specific scheme to the authorised category, rather than establishing the underlying regulatory requirements.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and those acting in a trustee capacity when administering trusts under Singapore law. Its effect is indirect but important: it determines whether a particular unit trust scheme is eligible to be treated as an “authorised unit trust scheme” under the Trustees Act.
It also has relevance for lawyers advising trustees, trust administrators, and compliance officers. When assessing whether a trustee’s proposed investment is permitted, counsel will often need to check whether the relevant scheme has been declared authorised by an order made under the Trustees Act. The Order therefore becomes part of the legal due diligence toolkit for trust investments.
While the Order names a unit trust scheme, it does not itself impose operational obligations on the scheme’s management. Instead, it affects the trustee’s legal position. In practice, however, scheme managers and distributors may care about such declarations because authorisation can influence trustee demand and the scheme’s suitability for trust portfolios.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in trust administration. Trustees are fiduciaries with duties to act prudently and within the scope of their legal investment powers. If a trustee invests in a unit trust scheme that is not authorised (where authorisation is required by the Trustees Act), the investment could be challenged as unauthorised, potentially exposing the trustee to liability for breach of trust or for acting outside statutory powers.
By declaring United Global Portfolios as an authorised unit trust scheme, the Order provides a clear legal basis for trustees to include that scheme within their investment universe under the Trustees Act. This reduces legal uncertainty and supports compliance with statutory constraints on trust investments.
From an enforcement and risk-management perspective, the Order also assists regulators and courts in assessing whether trustees acted within permitted bounds. In disputes—such as claims that a trustee made an improper investment—one of the key questions is often whether the investment was authorised by law at the relevant time. The existence of a specific authorisation order, with a clear citation and date, helps establish the legal status of the scheme.
Finally, the “current version as at 27 Mar 2026” status noted in the metadata indicates that the instrument remains in force in the consolidated legal database. For practitioners, this matters because it affects whether the authorisation is still valid and whether any later amendments or revocations exist (none are shown in the extract). Lawyers should still verify the latest version and any related amendments through the legislation timeline when advising on historical versus current trustee conduct.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 86 (the enabling provision referenced in the enacting formula)
- Other “Trustees (Authorised Unit Trust Scheme)” Orders — similar subsidiary instruments that declare other unit trust schemes authorised for the purposes of the Trustees Act (not listed in the extract, but typically part of the same regulatory series)
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.