Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 28) Order 1999
- Act Code: TA1967-S433-1999
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Provision: Made under powers conferred by section 83 of the Trustees Act
- Legislative Citation: SL 433/1999
- Date Made: 1 October 1999
- Commencement: Not stated in the extract (commonly effective upon making unless otherwise provided)
- Status: Current version as at 27 March 2026
- Key Provisions (from extract):
- Section 1: Citation
- Section 2: Declaration of an authorised unit trust scheme
- Authorised Scheme Named: Aberdeen Pacific Equity Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 28) Order 1999 is a short piece of Singapore subsidiary legislation made under the Trustees Act. Its practical function is to formally declare a specific unit trust scheme—the Aberdeen Pacific Equity Fund—as an authorised unit trust scheme for the purposes of the Trustees Act.
In plain language, the Order does not create a new regulatory regime by itself. Instead, it operates as a designation instrument: it identifies which particular unit trust product qualifies to be treated as “authorised” under the Trustees Act framework. This designation matters because the Trustees Act typically governs what trustees may invest in, and what kinds of investment vehicles are recognised as suitable or permissible for trustees acting under their statutory duties.
Because the Order is made under section 83 of the Trustees Act, it sits within a broader legislative scheme. The Trustees Act provides the legal basis for authorisation, while each “(No. X) Order” designates one or more schemes. For practitioners, the key takeaway is that the Order is a legal gateway that links a named fund to the statutory consequences of being “authorised” under the Trustees Act.
What Are the Key Provisions?
Section 1 (Citation) is a standard provision. It states that the instrument may be cited as the Trustees (Authorised Unit Trust Scheme) (No. 28) Order 1999. While this does not affect substantive rights, it is important for legal referencing, pleadings, and compliance documentation.
Section 2 (Authorised unit trust scheme) is the substantive core of the Order. It provides that Aberdeen Pacific Equity Fund is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act. This single declaration is the entire operative effect of the instrument.
From a practitioner’s perspective, the legal significance lies in the phrase “for the purpose of the Act.” That wording indicates that the authorisation is not merely descriptive; it is intended to trigger the statutory consequences that the Trustees Act attaches to authorised unit trust schemes. Those consequences may include (depending on how the Trustees Act is drafted and applied) whether trustees can invest in the scheme, how trustees should treat the scheme when managing trust property, and what compliance expectations arise for trustees and related parties.
Although the extract does not reproduce the full text of section 83 of the Trustees Act, the enacting formula makes clear that the Minister for Law is acting under delegated powers. The Order therefore reflects the exercise of a ministerial discretion (or power) to designate qualifying schemes. In practice, lawyers should treat the designation as a formal legal status that should be verified against the current version of the subsidiary legislation and the fund’s continuing eligibility.
Made date and ministerial signature (1 October 1999; signed by GOH KIM LEONG, Permanent Secretary, Ministry of Law) provide the historical record of enactment. The “current version as at 27 March 2026” status indicates that the instrument remains in force in the consolidated legal database, subject to any later amendments or revocations that might appear in the legislation timeline.
How Is This Legislation Structured?
This Order is extremely concise and is structured around two provisions:
(1) Citation — a procedural section enabling proper referencing; and (2) Authorisation — the operative declaration identifying the specific unit trust scheme that is authorised under the Trustees Act.
There are no parts, schedules, or detailed conditions in the extract. The structure reflects the nature of many designation orders: they are designed to be administrative in form but substantively important in effect. The “(No. 28)” numbering suggests that there are multiple similar orders over time, each designating different schemes.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and to any parties whose duties or investment powers are governed by the Trustees Act. While the Order itself is addressed to the legal status of a unit trust scheme, the practical beneficiaries are those who must decide whether a particular fund can be held or invested in by trustees.
In addition, the designation may be relevant to fund managers, trust service providers, and advisers who support trustees in investment decisions. For example, when preparing trust investment policies, trustee resolutions, or compliance checklists, advisers often need to confirm whether a fund is “authorised” under the relevant statutory framework. The Order provides the legal basis for that confirmation.
Although the Order names a specific scheme, it does not necessarily mean that only that scheme is relevant to trustees in all contexts. Rather, it means that Aberdeen Pacific Equity Fund has been designated as authorised for the Trustees Act purposes at the time of the Order, and remains so unless later legislation changes the status.
Why Is This Legislation Important?
Even though the Order is short, it can be highly consequential in trust administration. Trustees are typically required to act within the bounds of their statutory investment powers and duties. If the Trustees Act restricts or regulates investments, then authorisation orders like this one can determine whether a trustee may lawfully invest in a particular unit trust scheme.
For practitioners, the importance is twofold. First, the Order provides a clear legal designation for a named fund. Second, it supports risk management and compliance: trustees and their advisers can rely on the authorised status when documenting investment decisions, responding to audit queries, and defending decisions if challenged.
Because the Order is a subsidiary legislation instrument, it should be treated as part of a living legal landscape. The “current version as at 27 March 2026” status signals that the instrument is still accessible and presumably still operative in the consolidated database. However, lawyers should still check the legislation timeline and any amendments or related instruments to confirm whether the authorisation remains current, whether the fund’s name has changed, and whether any revocation or replacement orders exist.
Finally, this Order illustrates a common Singapore legislative technique: rather than embedding detailed investment lists in the main Act, the law uses ministerial orders to add or update authorised schemes. This approach allows the legal framework to adapt to market developments while keeping the primary statute stable.
Related Legislation
- Trustees Act (Chapter 337) — in particular section 83 (the enabling provision referenced in the enacting formula)
- Other “Trustees (Authorised Unit Trust Scheme) (No. …) Orders” — designation instruments made under the same enabling power (use the legislation timeline to locate them)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 28) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.