Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2002
- Act Code: TA1967-S257-2002
- Type: Subsidiary Legislation (SL)
- Status: Current version (as at 27 Mar 2026)
- Enacting Authority: Minister for Law
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Commencement: Not stated in the extract (Order made on 28 May 2002; cited as SL 257/2002)
- Legislative Citation: SL 257/2002
- Made Date: 28 May 2002
- Declared Scheme: “80 Plus Series 2”
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2002 is a short piece of Singapore subsidiary legislation that performs a specific regulatory function: it designates a particular unit trust scheme as an “authorised unit trust scheme” for the purposes of the Trustees Act (Cap. 337). In practical terms, the Order is a legal gateway that allows the named scheme—“80 Plus Series 2”—to fall within the statutory category of authorised unit trust schemes.
Unit trusts are collective investment arrangements where investors pool money and the trust manages investments on their behalf. The Trustees Act provides a framework for trustees and related arrangements, including the recognition of certain unit trust schemes as authorised. This Order is one of a series of “authorised unit trust scheme” orders, each identifying a particular scheme by name. The designation matters because the Trustees Act attaches legal consequences to authorised schemes—typically involving regulatory permissions, governance expectations, and compliance requirements that are not available to non-authorised schemes.
Because the extract contains only two operative provisions, the Order’s scope is narrow. It does not create a broad regulatory regime by itself; rather, it activates or confirms the scheme’s status under the Trustees Act. For practitioners, the key is to understand the interaction between this Order and the underlying Trustees Act—particularly section 83, which empowers the Minister to make such designations.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. While this is standard drafting, it is important for legal referencing, compliance documentation, and due diligence. When advising trustees, fund managers, or distributors, lawyers often need to cite the correct authorisation instrument to show that a scheme is within the authorised category.
Section 2 (Authorised unit trust scheme) is the substantive provision. It declares that “the 80 Plus Series 2 is hereby declared as an authorised unit trust scheme for the purposes of the Act.” This single sentence is the legal act of authorisation. The effect is that the scheme’s legal status changes under the Trustees Act framework: it becomes an authorised unit trust scheme, meaning it is treated as such for any statutory provisions that depend on that classification.
From a practitioner’s perspective, the most important interpretive point is that the authorisation is scheme-specific. The Order does not authorise “80 Plus” generally; it authorises “80 Plus Series 2” by name. This matters in scenarios where there are multiple series, tranches, or variants within a broader product umbrella. If a different series is offered to investors, a separate authorisation order (or another statutory basis) may be required.
Enabling and legal effect (section 83 of the Trustees Act) is not reproduced in the extract, but it is explicitly referenced in the enacting formula: “In exercise of the powers conferred by section 83 of the Trustees Act, the Minister for Law hereby makes the following Order.” This indicates that the Minister’s power is statutory and that the designation must be understood as an exercise of that power. Accordingly, the authorisation is not merely administrative; it is a formal legal designation with consequences under the Act.
Finally, the Order includes the making date and signature block: it was made on 28 May 2002 by Liew Heng San, Permanent Secretary, Ministry of Law. While the extract does not specify commencement, the making date and the publication as SL 257/2002 are typically used to determine the relevant period for compliance and for establishing when the scheme became authorised.
How Is This Legislation Structured?
The Order is structured in a very simple format, consistent with many “authorised scheme” instruments. It contains:
(1) An enacting formula that identifies the enabling provision (section 83 of the Trustees Act) and confirms the Minister’s authority to make the Order.
(2) Section 1 on citation.
(3) Section 2 on the substantive declaration of the authorised unit trust scheme.
There are no schedules, definitions, or detailed compliance requirements within the Order itself. Instead, the Order functions as a declaratory instrument that points back to the Trustees Act for the substantive regulatory framework.
Who Does This Legislation Apply To?
This Order applies to the extent that it designates “80 Plus Series 2” as an authorised unit trust scheme under the Trustees Act. In practice, the main parties affected are those who operate, manage, market, distribute, or administer the scheme—such as the trustee, the management company or fund manager (depending on the scheme’s structure), and any intermediaries that rely on the scheme’s authorised status when offering units to investors.
It also indirectly affects investors and advisers, because authorised status typically influences what can be offered, how it is regulated, and what legal protections or compliance obligations attach under the Trustees Act. However, the Order itself does not impose duties on investors; rather, it changes the legal classification of the scheme, which then triggers the statutory regime applicable to authorised unit trust schemes.
Why Is This Legislation Important?
Although the Order is brief, it is legally significant because authorisation is often a prerequisite for lawful operation or lawful offering under the relevant statutory framework. For practitioners conducting regulatory due diligence, the ability to point to a specific authorisation order is essential. It helps establish that the scheme is within the category of schemes contemplated by the Trustees Act and that the trustee and related parties can rely on the statutory consequences of authorised status.
From a compliance standpoint, scheme-specific authorisation reduces ambiguity. If a scheme is not authorised, the trustee and operators may face restrictions or heightened regulatory risk. Conversely, if a scheme is authorised, the legal analysis shifts to the ongoing obligations that apply to authorised unit trust schemes under the Trustees Act and any related subsidiary legislation or regulatory guidance.
Finally, the Order’s “current version” status as at 27 Mar 2026 indicates that it remains part of the active legal corpus. Even where the underlying authorisation is dated (made in 2002), the scheme’s status and the legal instrument remain relevant for ongoing compliance, investor disclosures, and any disputes that require proof of authorisation at a particular time.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 83 (the enabling provision for authorising unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 17) Order 2002 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.