Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 20) Order 1999
- Act Code: TA1967-S413-1999
- Type: Subsidiary Legislation (SL)
- Enacting Formula: Made by the Minister for Law in exercise of powers under section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 20) Order 1999
- Key Provision(s): Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
- Authorising Act: Trustees Act (Cap. 337)
- Legislation Number / SL Reference: SL 413/1999
- Date Made: 20 September 1999
- Date of SL (as shown in timeline): 24 September 1999
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 20) Order 1999 is a short but legally significant piece of subsidiary legislation. In plain terms, it “authorises” a specific unit trust scheme—meaning it formally recognises that scheme for the purposes of the Trustees Act. The authorisation is not a general framework for all unit trusts; rather, it is a targeted declaration of one named scheme.
Under the Trustees Act, certain unit trust schemes may be recognised as “authorised unit trust schemes” if they meet the statutory requirements and if the relevant authority makes an order declaring them authorised. This Order is one such declaration. It does not itself set out the substantive regulatory requirements for unit trusts (those requirements are found in the Trustees Act and related regulatory instruments). Instead, it performs the administrative/legal step of designating a particular scheme as authorised.
For practitioners, the practical effect is that once a scheme is declared authorised under the Trustees Act, it can benefit from the legal consequences attached to authorised status—such as enabling the scheme to be operated and administered under the statutory regime designed for authorised unit trust schemes. This can matter for trustee duties, compliance expectations, and how the scheme is treated in legal and regulatory contexts.
What Are the Key Provisions?
Section 1 (Citation) is a standard provision. It states that the Order may be cited as the Trustees (Authorised Unit Trust Scheme) (No. 20) Order 1999. While this does not affect substantive rights or obligations, it is important for legal referencing, pleading, and compliance documentation.
Section 2 (Authorised unit trust scheme) is the core operative provision. It declares that CMG First State Regional China Fund is hereby declared as an authorised unit trust scheme for the purposes of the Trustees Act.
This declaration is the legal “trigger” for authorised status. The wording is direct: the scheme is “hereby declared” authorised. In practice, this means that the scheme’s legal classification changes from whatever it was before (e.g., not authorised, or not yet designated) to a status recognised by the Trustees Act. That status is typically relevant to how trustees and other parties must structure their arrangements, how the scheme is administered, and how statutory permissions or protections apply.
Notably, the extract provided shows that the Order contains only two sections. There are no additional conditions, schedules, or detailed compliance requirements within the Order itself. Accordingly, the legal practitioner should treat this Order as a designation instrument—the substantive regulatory framework is elsewhere. The Order’s function is to identify the scheme that is authorised, not to restate the regulatory rules governing unit trusts.
Enacting authority and legal basis: The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters because it confirms that the Minister for Law’s power is statutory and that the declaration is made under a specific enabling provision. When advising on validity, scope, or challenge, practitioners often look to the enabling provision to confirm that the decision-maker had the authority to make the declaration and that the declaration falls within the statutory purpose.
How Is This Legislation Structured?
This Order is extremely concise and is structured as follows:
(1) Section 1: Citation.
(2) Section 2: Authorised unit trust scheme—declaring a named scheme (CMG First State Regional China Fund) as authorised under the Trustees Act.
There are no Parts, schedules, or annexes in the extract. The document is therefore best understood as a single-purpose instrument. Its structure reflects its legislative role: to record the ministerial declaration that a particular unit trust scheme is authorised.
Who Does This Legislation Apply To?
The Order applies to the unit trust scheme named in the declaration—CMG First State Regional China Fund—and, by extension, to the parties operating or administering that scheme in their capacity as trustees or other relevant stakeholders who must comply with the Trustees Act regime for authorised unit trust schemes.
While the Order itself does not list trustees, managers, or investors, the legal consequences of authorised status typically flow to the scheme’s governance and administration. In practical terms, the scheme’s trustee(s), fund manager, and service providers will be concerned with how authorised status affects their statutory duties, compliance obligations, and documentation. Investors may also be indirectly affected because authorised status can influence how the scheme is structured and regulated under the statutory framework.
For practitioners, the key is to treat the Order as a designation that determines whether the scheme falls within the “authorised unit trust scheme” category under the Trustees Act. Any advice about compliance should therefore be anchored in the Trustees Act provisions that apply to authorised schemes, using this Order to confirm the scheme’s status.
Why Is This Legislation Important?
Although the Order is brief, it is important because authorisation is often a gatekeeping concept in financial and trust regulation. Being declared an authorised unit trust scheme can determine whether the scheme is permitted to operate under the statutory regime and how trustees must perform their roles. In many legal systems, “authorised” status is not merely descriptive; it can affect the legal architecture of the scheme and the availability of statutory protections or requirements.
From an enforcement and compliance perspective, the Order provides legal certainty. It identifies the scheme by name and ties it to the Trustees Act. This is valuable for regulators, trustees, auditors, and legal advisers when assessing whether the scheme is properly within the authorised category. It also helps avoid ambiguity—rather than relying on informal representations, the scheme’s authorised status is grounded in a published ministerial order.
For practitioners advising on due diligence, regulatory filings, or contractual arrangements, this Order can be a critical reference point. For example, when reviewing trustee obligations, offering documents, or scheme documentation, counsel may need to confirm that the scheme is indeed authorised under the Trustees Act and that the legal basis for that status is documented. The Order’s citation and SL reference (SL 413/1999) support traceability and audit readiness.
Finally, the timeline and “current version” status (as at 27 March 2026) indicate that the Order remains in force in its current form. While the extract does not show amendments, the “current version” label is still relevant for practitioners: it signals that the declaration is not superseded by a later version (at least as reflected in the platform’s consolidation). This reduces the risk of relying on an outdated text.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for ministerial orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 20) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.