Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 18) Order 2002
- Act Code: TA1967-S258-2002
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Chapter 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Primary Subject Matter: Declaration of a specific unit trust scheme as an “authorised unit trust scheme”
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 18) Order 2002
- SL Number: SL 258/2002
- Date Made: 28 May 2002
- Date of Publication/Version Reference: 29 May 2002
- Status: Current version as at 27 Mar 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 18) Order 2002 is a short but legally significant instrument. In plain language, it does one main thing: it formally declares a particular collective investment arrangement—the DBS Swing Fund 5.0/2—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
Authorised unit trust schemes are relevant in Singapore because the Trustees Act regulates how trustees may deal with investments and, in certain circumstances, permits or facilitates the use of specified schemes that meet the statutory authorisation framework. This Order is therefore part of the mechanism by which the law identifies which unit trust schemes are eligible to be treated as authorised under the Act.
Although the Order itself contains only two operative provisions (a citation provision and the declaration), it operates within a broader regulatory system. The authorisation is not a general approval of “unit trusts” as a category; rather, it is scheme-specific. That approach allows the Minister to authorise particular schemes—such as DBS Swing Fund 5.0/2—based on the statutory powers in section 83 of the Trustees Act.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is a standard legislative drafting provision, but it matters for legal practice because it ensures that references in documents, submissions, and compliance materials are precise and consistent.
Section 2 (Authorised unit trust scheme) is the core operative clause. It states that “the DBS Swing Fund 5.0/2 is hereby declared as an authorised unit trust scheme for the purposes of the Act.” In practical terms, this declaration means that when trustees (and other persons who rely on the Trustees Act framework) consider whether a unit trust scheme qualifies as an authorised scheme, DBS Swing Fund 5.0/2 is within the authorised set.
Because the Order is made under section 83 of the Trustees Act, its legal effect is tied to the statutory consequences that flow from being “authorised.” While the extract provided does not reproduce the text of section 83 or the detailed investment rules in the Trustees Act, the typical legal significance of such authorisation is that it enables trustees to treat the scheme as meeting the statutory threshold for authorised investments. For practitioners, the key point is that the Order supplies the authorisation status that the Trustees Act requires.
Enacting formula and ministerial power are also important. The Order expressly records that it is made “in exercise of the powers conferred by section 83 of the Trustees Act” and is signed by the Permanent Secretary, Ministry of Law. This confirms that the declaration is not merely administrative; it is a formal exercise of statutory power. In legal disputes or compliance reviews, the existence of the enabling power and the formal making process can be relevant to questions about validity and scope.
Temporal and version considerations should not be overlooked. The Order is dated 28 May 2002 and referenced as SL 258/2002. The status indicates it is the current version as at 27 March 2026. For practitioners, this means that—at least based on the versioning information—there has not been a replacement or revocation captured in the provided extract. However, lawyers should still check the legislation timeline and any amendments or related instruments to confirm whether the scheme remains authorised and whether there have been any changes to the scheme name, structure, or authorisation conditions under the broader regulatory regime.
How Is This Legislation Structured?
The Order is structured in a very simple format, reflecting its narrow purpose. It contains:
(1) An enacting formula that identifies the statutory power (section 83 of the Trustees Act) and the Minister for Law’s authority to make the Order.
(2) Section 1 (Citation) which provides the short title for referencing the instrument.
(3) Section 2 (Authorised unit trust scheme) which performs the substantive legal act—declaring DBS Swing Fund 5.0/2 to be an authorised unit trust scheme for the purposes of the Trustees Act.
There are no schedules, conditions, reporting requirements, or procedural steps in the extract. This is consistent with a declaration order: it identifies the authorised scheme and leaves the detailed regulatory obligations to the underlying framework of the Trustees Act and any other applicable financial services or trust-related regulations.
Who Does This Legislation Apply To?
On its face, the Order applies to the unit trust scheme it names—DBS Swing Fund 5.0/2—by declaring it authorised for the purposes of the Trustees Act. The direct legal beneficiary of the declaration is therefore the scheme itself, insofar as it gains the statutory label “authorised unit trust scheme.”
In practice, the declaration is relevant to trustees and any parties who must comply with the investment or trust administration rules under the Trustees Act. Where the Act permits or requires trustees to invest in authorised unit trust schemes, this Order supplies the legal basis for treating DBS Swing Fund 5.0/2 as eligible. Lawyers advising trustees should therefore treat this Order as a key reference point when conducting investment policy reviews, trustee resolutions, and compliance checks.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential for trustees and legal practitioners. Authorisation status can affect whether a trustee’s investment is within permitted categories under the Trustees Act framework. If a trustee invests in a scheme that is not authorised (or relies on an outdated authorisation), the trustee may face compliance issues, potential liability concerns, or the need to rectify investment decisions.
From a risk-management perspective, the Order provides certainty: it identifies a specific scheme by name and declares its authorised status. For practitioners, this reduces ambiguity and supports defensible decision-making. In due diligence, lawyers can cite the Order to confirm that the scheme is within the authorised universe for the Trustees Act purposes.
Finally, the Order illustrates how Singapore’s legal system uses targeted subsidiary legislation to implement statutory authorisation. Rather than embedding a list of authorised schemes in the Trustees Act itself, the law can update authorisations through individual Orders. This means practitioners should adopt a habit of checking not only the Trustees Act but also the relevant authorisation Orders—because the authorised status of a scheme may depend on whether a specific declaration exists and remains current.
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. 18) Order 2002 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.