Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 13) Order 2004
- Act Code: TA1967-S428-2004
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Enacting Date / Made Date: 9 July 2004
- SL Citation: SL 428/2004
- Current Status (as provided): Current version as at 27 Mar 2026
- Key Section(s): Section 1 (Citation); Section 2 (Authorised unit trust schemes)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 13) Order 2004 is a short but legally significant instrument. In plain terms, it is an official order made by the Minister for Law that “authorises” certain collective investment funds—specifically, named unit trust funds—for the purposes of the Trustees Act.
Authorisation matters because the Trustees Act regulates the circumstances in which trustees may act in relation to unit trust schemes. Certain statutory permissions, protections, or eligibility requirements in the Act are triggered only when a fund is declared to be an “authorised unit trust scheme”. This Order therefore functions as a gatekeeping mechanism: it identifies which particular funds qualify under the statutory framework.
Although the Order itself contains only two operative provisions, its practical effect is substantial for fund managers, trustees, and investors. Once a fund is declared “authorised” under the Trustees Act, it can be used in trustee arrangements that depend on that authorisation status. The Order is also part of a broader series of similar orders (e.g., “(No. 13)”) that periodically add or specify authorised schemes.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name of the instrument. This is standard legislative drafting: it tells practitioners how to refer to the Order in legal documents, correspondence, and compliance materials.
Section 2 (Authorised unit trust schemes) is the core provision. It declares that the following funds are “authorised unit trust schemes for the purposes of the Act”:
(a) Asia Star Opportunity Fund 1;
(b) Asia Star Opportunity Fund 2;
(c) Asia Star Opportunity Fund 3;
(d) Asia Star Opportunity Fund 4; and
(e) Asia Star Opportunity Fund 5.
In practical terms, Section 2 operates as a statutory designation. The Minister’s declaration is not merely descriptive; it is a legal status that can affect how trustees may administer, hold, or deal with units in these funds under the Trustees Act framework. For lawyers advising trustees or fund administrators, the key compliance question becomes: “Is the relevant fund named in an authorisation order (and is the version applicable)?” This Order answers that question for the five Asia Star Opportunity Funds listed.
Enacting formula and statutory authority also deserve attention. The Order states that it is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This indicates that the Minister’s authority to declare authorised unit trust schemes is grounded in the Act itself. For practitioners, this matters for legal validity and interpretive context: the Minister is not acting arbitrarily; the power is statutory and therefore subject to the Act’s scheme of regulation.
Made date and formalities (“Made this 9th day of July 2004”) confirm the instrument’s enactment timing. While the extract does not specify a separate commencement date, the legal effect of authorisation typically follows the making/registration process under the subsidiary legislation regime. In any compliance review, counsel should confirm the operative date and whether any later amendments or replacement orders affect the continuing authorisation status.
How Is This Legislation Structured?
This Order is structured in a very concise format typical of authorisation instruments:
1. Citation — identifies the Order by name.
2. Authorised unit trust schemes — lists the specific funds that are declared authorised under the Trustees Act.
There are no schedules, no definitions section in the extract, and no additional conditions or procedural requirements within the text provided. The legal “work” is done by the list of named funds in Section 2.
From a practitioner’s perspective, the structure means that legal analysis is largely straightforward: you confirm the fund name matches the statutory list, and you then assess how that authorisation interacts with the Trustees Act obligations and permissions relevant to the transaction or trustee arrangement at hand.
Who Does This Legislation Apply To?
The Order applies to parties whose activities fall within the scope of the Trustees Act’s unit trust scheme framework—most notably trustees and persons acting for or on behalf of trustees when they consider whether a particular unit trust scheme is eligible for use under the Act.
It also has practical relevance for fund managers and administrators of the named Asia Star Opportunity Funds, because authorisation status can influence distribution channels and the ability of trustees to hold or invest in the funds within regulated trustee arrangements. For investors, the Order indirectly matters: it can affect whether their investments are accessible through trustee structures that rely on authorised status.
Importantly, the Order does not itself regulate investor conduct or impose investor-facing obligations. Instead, it operates as a statutory classification that enables or conditions trustee-related legal arrangements under the Trustees Act.
Why Is This Legislation Important?
Even though the Order is brief, it is important because authorisation under the Trustees Act can be a prerequisite for lawful trustee involvement with unit trust schemes. In trustee practice, compliance is often highly technical: a trustee must ensure that the investments it holds or the schemes it uses meet statutory criteria. An authorisation order like this one provides the legal certainty needed to proceed.
For lawyers, the key significance is risk management. If a trustee invests in or holds units in a fund that is not authorised (or not authorised at the relevant time), the trustee may face compliance breaches, potential liability, and the need for remedial steps. By contrast, when the fund is expressly listed in Section 2, counsel can advise with greater confidence that the statutory authorisation element is satisfied—subject always to any other requirements in the Trustees Act and related regulatory regimes.
From an enforcement and governance perspective, the Order also illustrates how Singapore’s legal framework uses subsidiary legislation to maintain an up-to-date list of eligible schemes. The “(No. 13)” numbering indicates that authorisations are not one-off; they are periodically updated through separate orders. Practitioners should therefore treat authorisation status as a living compliance item: confirm the current version, check for amendments or replacement orders, and ensure the fund name and series match exactly.
Finally, the Order’s specificity—naming “Asia Star Opportunity Fund 1” through “Asia Star Opportunity Fund 5”—highlights a common drafting principle in financial authorisation instruments: precision of identification. Counsel should avoid assumptions based on branding or marketing names. The legal name as stated in the Order is what matters for statutory classification.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 83 (power to declare authorised unit trust schemes)
- Other “Trustees (Authorised Unit Trust Scheme) … Orders” — subsidiary legislation instruments that may authorise additional funds or update authorised lists (consult the legislation timeline for the relevant series)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 13) Order 2004 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.