Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 20) Order 2000
- Act Code: TA1967-S530-2000
- Type: Subsidiary Legislation (Order)
- Enacting / Authorising Act: Trustees Act (Cap. 337), specifically powers under section 83
- Legislative Instrument Number: SL 530/2000
- Commencement: Not stated in the extract (instrument dated 17 November 2000; published/dated 21 November 2000 in the timeline)
- Status: Current version as at 27 Mar 2026
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
- Authorising Minister: Minister for Law (made by Permanent Secretary, Ministry of Law, Singapore)
- Made Date (as stated): 17 November 2000
- Declared Scheme: UBS (SG) Investment Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 20) Order 2000 is a short but legally significant instrument. In substance, it identifies a particular collective investment product—UBS (SG) Investment Fund—and formally declares it to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In plain terms, the Order acts as a gateway document. Certain trustees (and related fiduciaries) may be permitted or better positioned to deal with, invest in, or otherwise administer assets that include interests in unit trust schemes—provided those schemes meet statutory criteria. This Order is one of the mechanisms by which the Minister for Law designates eligible schemes as “authorised” under the Trustees Act framework.
Although the extract contains only two operative provisions, the legal effect can be substantial. By declaring a scheme authorised, the Order can influence how trustees discharge their duties, what investments are considered permissible, and how compliance is evidenced in practice—particularly where trustees rely on statutory authorisation rather than bespoke investment approvals.
What Are the Key Provisions?
Section 1 (Citation) is a standard provision. It confirms the formal name of the instrument: “Trustees (Authorised Unit Trust Scheme) (No. 20) Order 2000.” For practitioners, this matters for accurate legal referencing in filings, correspondence with counterparties, and internal compliance documentation.
Section 2 (Authorised unit trust scheme) is the core operative clause. It provides that UBS (SG) Investment Fund is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act.
While the extract does not reproduce the text of the Trustees Act itself, the phrase “for the purpose of the Act” is legally important. It indicates that the authorisation is not merely descriptive; it is tied to specific statutory consequences in the Trustees Act. In practice, trustees and their advisers typically look to such declarations to determine whether a given unit trust scheme falls within the category of investments that trustees may hold or acquire without breaching statutory investment restrictions.
Practical compliance point: when a trustee is reviewing its investment policy, trustee resolutions, or suitability/appropriateness processes, the existence of an “authorised” declaration can be used as part of the legal basis for holding units in the scheme. The Order therefore functions as documentary evidence that the scheme meets the statutory threshold for authorisation under the Trustees Act.
Made date and formalities: The instrument states it was made on 17 November 2000 by the Permanent Secretary, Ministry of Law, Singapore, acting for the Minister for Law. The timeline also shows the instrument as SL 530/2000 dated 21 November 2000. For legal research and audit trails, practitioners should be attentive to both the “made” date and the publication/timeline date, as these can matter for determining the effective period of authorisation.
How Is This Legislation Structured?
This Order is structured in a very concise format typical of many authorisation orders under Singapore subsidiary legislation. It contains:
(1) An enacting formula that identifies the enabling power—section 83 of the Trustees Act—and confirms that the Minister for Law makes the Order.
(2) A short set of operative provisions: a citation provision (Section 1) and the substantive authorisation provision (Section 2).
(3) A formal “made” statement identifying the date and the signatory authority.
There are no parts, schedules, or detailed conditions in the extract. That is consistent with the nature of an authorisation order: it does not itself regulate the underlying fund’s operations (which would typically be governed by other financial services and trust-related regulatory regimes), but instead designates the scheme for the specific purposes of the Trustees Act.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and other persons whose powers and duties are governed by the Trustees Act. In other words, it is not directed at the public at large; rather, it is relevant to fiduciaries who must determine what investments are permissible or how they may administer trust property.
In practice, the Order is also relevant to investment managers, fund administrators, and legal advisers who support trustees. These parties often need to confirm whether a particular unit trust scheme is “authorised” so that trustees can rely on the statutory category when documenting investment decisions, preparing trust accountings, or responding to beneficiary inquiries and regulatory audits.
Why Is This Legislation Important?
Even though the Order is brief, it can be important because it affects the legal status of a specific unit trust scheme within the Trustees Act investment framework. For trustees, the ability to hold or invest in an “authorised unit trust scheme” can reduce uncertainty and help demonstrate compliance with statutory investment requirements.
From a risk management perspective, authorisation orders are often used to support a trustee’s defence that it acted within its legal powers. If a trustee’s investment is challenged—whether by beneficiaries, auditors, or in the context of internal governance—the trustee may point to the statutory authorisation as part of its rationale.
For practitioners, the key significance is therefore evidentiary and operational. The Order provides a clear, publicly accessible legal designation for UBS (SG) Investment Fund. When combined with the trustee’s investment policy and the Trustees Act provisions, it can form a cornerstone of the trustee’s compliance file.
Finally, because the instrument is listed as “current version as at 27 Mar 2026,” practitioners should treat it as still operative unless and until amended or revoked. Where a fund’s authorisation status is relevant to ongoing trust administration, confirming the current status of the Order is a practical step in ensuring that the trustee’s investment holdings remain within the intended statutory category.
Related Legislation
- Trustees Act (Cap. 337), in particular section 83 (power to make authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 20) Order 2000 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.