Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2001
- Act Code: TA1967-S274-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Enacting Provision: Powers under section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2001
- Key Designation: Aberdeen China Opportunities Fund declared an “authorised unit trust scheme”
- SL Number: SL 274/2001
- Date Made: 15 May 2001
- Commencement Date: Not stated in the extract (practitioners should confirm in the official publication)
- Status: Current version as at 27 Mar 2026 (per provided metadata)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2001 is a short piece of subsidiary legislation that performs a single regulatory function: it designates a specific collective investment vehicle as an “authorised unit trust scheme” for the purposes of the Trustees Act. In plain terms, it tells trustees and other regulated persons that the named fund meets the statutory criteria required to be treated as an authorised scheme under the Trustees Act framework.
Unit trust schemes are commonly used investment structures in which investors hold units in a fund managed by a trustee or manager. The Trustees Act regulates, among other things, the circumstances in which trustees may invest trust assets in certain financial products. Not all investment schemes are automatically eligible. The “authorised unit trust scheme” designation is therefore an important gateway: it affects whether trustees can lawfully hold or invest in the scheme when acting for beneficiaries.
This Order is not a comprehensive investment regulation regime. Instead, it is an enabling instrument made under section 83 of the Trustees Act. Its scope is narrow: it identifies one scheme—Aberdeen China Opportunities Fund—and declares it authorised. The practical effect is to integrate that scheme into the Trustees Act’s investment permissions and compliance expectations.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. While this is standard legislative drafting, it matters for legal referencing, compliance documentation, and regulatory audits. In practice, lawyers and compliance teams cite the exact Order when advising trustees on the basis for eligibility of a particular unit trust scheme.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that “the Aberdeen China Opportunities Fund is hereby declared as an authorised unit trust scheme for the purpose of the Act.” This is the legal “designation” step. Once declared, the scheme is treated as authorised under the Trustees Act, subject to any conditions or limitations that may exist in the underlying Act or related regulatory instruments.
Because the extract contains only two provisions, the Order’s entire legal work is concentrated in section 2. There are no additional requirements in the Order itself—no reporting obligations, no ongoing compliance conditions, and no procedural steps for investors. Those matters, if they exist, would typically be governed by the Trustees Act and other financial services legislation or by the scheme’s own authorisation and regulatory approvals.
Enacting formula and statutory authority are also significant for practitioners. The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This indicates that the Minister for Law has a statutory discretion (or a statutory power) to declare particular unit trust schemes authorised. For legal analysis, this matters because it anchors the validity of the designation in the specific enabling provision. If a trustee’s eligibility question arises, counsel can point to section 83 as the source of authority for the Minister’s declaration.
How Is This Legislation Structured?
The Order is structured in a very straightforward way, reflecting its narrow purpose. It contains:
(a) An enacting formula that identifies the Minister for Law and the enabling power under section 83 of the Trustees Act.
(b) A short set of operative provisions:
- Section 1: citation;
- Section 2: declaration of the authorised unit trust scheme (Aberdeen China Opportunities Fund).
(c) A “Made” date and signature block confirming when and by whom the Order was made.
There are no Parts, schedules, or detailed definitions in the extract. Accordingly, the Order functions as a targeted legal instrument rather than a standalone regulatory code. Practitioners should therefore read it together with the Trustees Act and any other relevant legislation governing unit trust schemes and trustee investment powers.
Who Does This Legislation Apply To?
This Order applies primarily to persons whose legal rights or duties depend on whether a unit trust scheme is “authorised” under the Trustees Act. The most direct category is trustees (and potentially trust administrators or other fiduciaries) who must comply with statutory investment rules when managing trust assets. If a trustee is considering investing in, or holding, units in the Aberdeen China Opportunities Fund, the authorised designation is a key eligibility factor.
It also indirectly affects lawyers advising trustees and compliance officers who must document the legal basis for investment decisions. Additionally, it may be relevant to fund managers and distributors in the sense that an authorised designation can make the scheme more accessible to trustees who are constrained by statutory investment permissions. However, the Order itself does not impose obligations on investors; it is a designation instrument within a trustee investment framework.
Why Is This Legislation Important?
Although the Order is brief, it can be highly consequential in practice. Trustee investment decisions are often governed by strict statutory rules. If a scheme is not authorised, trustees may be prohibited from investing trust assets in it, or they may face heightened legal risk (including potential breach of trust claims or regulatory non-compliance). By declaring the Aberdeen China Opportunities Fund as authorised, the Order reduces uncertainty and provides a clear statutory basis for trustees to consider the scheme within their investment mandate.
From an enforcement and risk perspective, the authorised designation is a compliance anchor. In audits, internal reviews, and legal opinions, trustees typically need to show that their investment holdings fall within permitted categories. This Order supplies the necessary legal reference for that purpose. In other words, it is not merely administrative—it can determine whether an investment is lawful under the Trustees Act regime.
Finally, the Order illustrates how Singapore’s legal framework uses targeted subsidiary instruments to operationalise broader statutory powers. Section 83 of the Trustees Act empowers the Minister for Law to declare specific schemes authorised. The result is a practical system where eligibility can be updated by discrete Orders as new funds are launched or as regulatory assessments are completed. For practitioners, this means that trustee investment advice should always check the current status of authorisations and confirm whether a particular fund remains authorised as at the relevant date.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 83 (the enabling provision for declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.