Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 14) Order 2001
- Act Code: TA1967-S262-2001
- Type: Subsidiary legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting authority: Minister for Law
- Enacting power: Powers conferred by section 83 of the Trustees Act
- Order date / made: 28 April 2001
- Commencement: Not stated in the extract (practitioners should confirm from the official publication)
- Legislative instrument number: SL 262/2001
- Status: Current version as at 27 Mar 2026
- Key provisions (from extract): Section 1 (Citation); Section 2 (Authorised unit trust scheme)
- Declared scheme: ABN AMRO Star Asia Balanced Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 14) Order 2001 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 specific unit trust fund—the ABN AMRO Star Asia Balanced Fund—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In Singapore’s legal framework, the Trustees Act governs, among other things, the appointment and duties of trustees and the types of investments trustees may hold. Certain statutory investment permissions and compliance requirements often hinge on whether an investment vehicle is “authorised” under the Act. This Order therefore matters less as a standalone regulatory regime and more as a gateway instrument that enables trustees (and those advising them) to treat the declared unit trust scheme as falling within the Act’s authorised category.
Because the Order is narrowly drafted, its scope is straightforward: it does not create new investment rules, reporting obligations, or governance requirements for the fund itself. Instead, it is an administrative/legal recognition that the named scheme meets the criteria for authorisation under the Trustees Act process.
What Are the Key Provisions?
Section 1 (Citation) provides the short title of the instrument: the Trustees (Authorised Unit Trust Scheme) (No. 14) Order 2001. While this may appear routine, citation provisions are important for legal certainty, especially when multiple “authorised unit trust scheme” orders exist (e.g., different “No.” numbers for different funds). Practitioners rely on correct citation when referencing the legal basis for authorisation in advice, compliance checklists, and trustee investment policies.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that the ABN AMRO Star Asia Balanced Fund is “hereby declared as an authorised unit trust scheme for the purpose of the Act.” This declaration is the legal mechanism by which the fund becomes relevant to trustees’ statutory investment permissions under the Trustees Act.
From a practitioner’s perspective, the key interpretive points are: (1) the authorisation is scheme-specific (it names a particular fund); (2) the authorisation is purpose-specific (it is “for the purpose of the Act”); and (3) the authorisation is legal status rather than an endorsement of performance. The Order does not, on its face, address risk, suitability, or ongoing compliance—those matters typically arise under the broader regulatory framework governing unit trusts and under the trustee’s general duties.
Finally, the enacting formula and making clause indicate that the Minister for Law acted “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters for legal grounding: if a trustee’s investment decision is challenged, the trustee may need to show that the investment fell within the statutory authorised category. The Order provides the documentary evidence of that authorisation.
How Is This Legislation Structured?
The Order is structured in a very compact format, consistent with many “authorised scheme” instruments. It contains:
(a) Enacting formula setting out the legal basis (section 83 of the Trustees Act) and the authority of the Minister for Law to make the Order.
(b) Section 1 (Citation) providing the short title.
(c) Section 2 (Authorised unit trust scheme) identifying the specific unit trust fund declared authorised.
There are no additional parts, schedules, conditions, or procedural provisions in the extract. As a result, the Order’s legal effect is concentrated entirely in the declaration of the named fund. Practitioners should still verify whether the official publication includes any commencement details or any amendments/annotations that could affect the scope or continued validity of the authorisation.
Who Does This Legislation Apply To?
This Order is directed at the legal ecosystem governed by the Trustees Act. While the Order itself is not written as a set of obligations addressed to the public at large, its practical effect is felt by trustees and persons advising trustees—including trust companies, professional trustees, and legal counsel—who must consider whether a particular unit trust scheme is an “authorised unit trust scheme” for statutory purposes.
It also indirectly affects investment administrators and compliance officers who maintain trustee investment policies and ensure that trust assets are held in permitted forms. However, the Order does not impose direct operational duties on the fund manager or investors; instead, it provides the legal classification that may allow trustees to hold the fund within the statutory framework.
Why Is This Legislation Important?
Although the Order is brief, it can be highly significant in trustee practice. Trustees often face constraints on investments, and statutory permissions can be decisive when determining whether an investment is permitted without breaching the Trustees Act. By declaring the ABN AMRO Star Asia Balanced Fund as an authorised unit trust scheme, the Order helps trustees justify holding that fund as an authorised investment under the Act.
From a compliance standpoint, the Order is also a documentary anchor. When trustees are audited or when their investment decisions are reviewed—whether by beneficiaries, internal governance committees, or regulators—trustees need to demonstrate that they acted within the statutory framework. The existence of a specific “authorised unit trust scheme” order provides a clear reference point for due diligence and record-keeping.
In addition, the Order’s “No. 14” numbering reflects that authorisations are issued for different schemes over time. This creates a practical need for lawyers to ensure they are advising based on the correct, current version of the relevant instrument and that the fund remains authorised as at the relevant date. The metadata indicates the Order is “current version as at 27 Mar 2026,” but practitioners should still check the legislation timeline and any amendments/annotations to confirm there have been no changes affecting the scheme’s status.
Related Legislation
- Trustees Act (Cap. 337) — in particular section 83 (power to make orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 14) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.