Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 16) Order 2001
- Act Code: TA1967-S264-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting authority: Minister for Law
- Key enabling provision: Section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 16) Order 2001
- Legislative instrument number: SL 264/2001
- Date made: 28 April 2001
- Date of publication/commencement (as reflected in the extract): 8 May 2001
- Status: Current version as at 27 Mar 2026
- Core operative provision: Declaration of an authorised unit trust scheme (ABN AMRO Star Europe Balanced Fund)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 16) Order 2001 is a short piece of subsidiary legislation made under the Trustees Act. In plain language, it is an official legal “designation” instrument: it declares a specific investment product—ABN AMRO Star Europe Balanced Fund—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
Authorised unit trust schemes are typically those that meet regulatory requirements and are approved so that they can be offered and managed under the legal framework applicable to unit trusts. The Order does not itself set out the full regulatory regime (that regime is found in the Trustees Act and related subsidiary legislation). Instead, this Order performs a targeted function: it adds one named scheme to the list of schemes that are treated as authorised for statutory purposes.
For practitioners, the key point is that the legal consequences of being “authorised” flow from the Trustees Act. Once a scheme is declared authorised by such an Order, it can benefit from the statutory permissions and protections that attach to authorised schemes, and it becomes subject to the compliance expectations that apply to authorised unit trust schemes.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard drafting, but it matters for legal referencing, filings, and compliance documentation. When advising on whether a scheme has been properly authorised, practitioners will often cite the relevant Order number and date.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that the ABN AMRO Star Europe Balanced Fund is “hereby declared as an authorised unit trust scheme for the purpose of the Act.” This single sentence is the legal mechanism that confers authorised status on the named fund.
Although the extract is brief, the legal effect is significant. The declaration is made “in exercise of the powers conferred by section 83 of the Trustees Act.” That enabling provision indicates that the Minister has statutory authority to designate particular unit trust schemes as authorised. In practice, this means the scheme’s status is not merely a commercial label; it is a legal classification that triggers the operation of the Trustees Act’s provisions dealing with authorised unit trust schemes.
Enacting formula and making date: The Order records that it is made by the Minister for Law, and it includes the “Made this 28th day of April 2001” statement with the signatory (LIEW HENG SAN, Permanent Secretary, Ministry of Law). For legal work, the making date and the publication date (reflected as 8 May 2001 in the timeline) can be relevant when assessing the timeline of authorisation, transitional arrangements, or when determining the applicable version of the instrument.
How Is This Legislation Structured?
This Order is structured in a minimal, two-section format typical of authorisation orders. It contains:
(1) A citation provision (Section 1), and (2) a single operative declaration (Section 2) identifying the authorised unit trust scheme.
There are no parts, schedules, or detailed conditions in the text provided. The substantive regulatory requirements—such as licensing/approval processes, governance expectations, and compliance obligations—are not contained in this Order. Instead, they are located in the Trustees Act and any other relevant subsidiary legislation. This Order functions as a “designation” instrument within that broader legal framework.
Who Does This Legislation Apply To?
The Order applies to the ABN AMRO Star Europe Balanced Fund as a specific unit trust scheme. In legal terms, the “direct” subject of the declaration is the scheme itself, but the practical impact extends to the parties responsible for the scheme’s operation—such as the trustee, the management company, and other service providers—because their conduct will be assessed against the statutory regime applicable to authorised unit trust schemes.
More broadly, the Order matters to investors and market participants because authorisation affects how the scheme is treated under law. For example, authorised status may influence what disclosures are required, what statutory safeguards apply, and how the scheme can be marketed or administered. However, the precise obligations and investor protections are determined by the Trustees Act (and related instruments), not by this Order alone.
Why Is This Legislation Important?
Even though the Order is short, it is important because it performs a legal “gatekeeping” function. In regulated financial markets, the difference between an authorised and non-authorised scheme can determine whether the scheme may be offered and managed under the statutory framework. Authorised status is therefore central to compliance, legal risk management, and regulatory reporting.
From a practitioner’s perspective, this Order is useful in at least three common scenarios:
- Due diligence and legal status checks: When assessing a fund’s regulatory standing, counsel will verify whether it has been declared authorised by the relevant ministerial order. This Order provides that confirmation for the named fund.
- Contracting and documentation: Fund offering documents, trustee agreements, and compliance statements often reference authorised status. Citing the correct authorisation order helps ensure that contractual representations align with legal reality.
- Regulatory and enforcement contexts: If there is a dispute about whether a scheme was properly authorised at a given time, the making and publication dates, and the existence of the declaration, become relevant evidence.
Finally, the Order’s “current version as at 27 Mar 2026” status indicates that the instrument remains in force in the legal database. For ongoing compliance work, practitioners should still confirm whether the scheme itself remains active and whether any later amendments, revocations, or replacements exist in the broader regulatory landscape. An authorisation order may remain “current” as a document even if the underlying scheme’s operational status changes; therefore, legal advice should consider both the instrument and the scheme’s current regulatory position.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for making authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 16) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.