Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 3) Order 2000
- Act Code: TA1967-S63-2000
- Type: Subsidiary Legislation (SL)
- Enacting Authority: Minister for Law
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 3) Order 2000
- Legislation Number: SL 63/2000
- Date Made: 19 February 2000
- Date of Publication/Commencement (as reflected in timeline): 22 February 2000
- Status: Current version as at 27 March 2026
- Primary Substantive Provision: Declaration of “International Health Care Portfolio” as an authorised unit trust scheme
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 3) Order 2000 is a short piece of subsidiary legislation made under the Trustees Act. Its practical purpose is to formally designate a specific investment product—“International Health Care Portfolio”—as an “authorised unit trust scheme” for the purposes of the Trustees Act.
In plain terms, the Order acts as an official recognition by the Ministry of Law that the named unit trust scheme meets the statutory framework required to be treated as an authorised scheme. This designation matters because the Trustees Act uses the concept of an “authorised unit trust scheme” to determine how trustees may deal with such schemes and what legal protections or permissions apply when trustees invest or hold interests in them.
Although the Order is brief, it sits within a broader regulatory architecture governing collective investment schemes and trustee investment powers. The designation is not a general authorisation of all unit trusts; it is scheme-specific. That means the legal effect is tied to the particular portfolio named in the Order, rather than to a category of schemes.
What Are the Key Provisions?
Section 1 (Citation). The Order provides its own citation: “Trustees (Authorised Unit Trust Scheme) (No. 3) Order 2000.” This is a standard provision used to identify the instrument for referencing in legal documents, submissions, and compliance materials.
Section 2 (Authorised unit trust scheme). This is the operative provision. It declares that “International Health Care Portfolio” is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act. The legal consequence is that, once declared, the scheme can be treated as an authorised unit trust scheme when applying the relevant provisions of the Trustees Act.
From a practitioner’s perspective, the key question is not merely whether the scheme exists, but whether it has been formally designated under the Trustees Act framework. The Order answers that question for this particular portfolio. If a trustee is considering whether it may invest in, or hold, interests in “International Health Care Portfolio” under the statutory regime, this Order is the document that supports the “authorised” status.
Enacting formula and statutory basis (Section 83 of the Trustees Act). The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” While the extract does not reproduce section 83, the reference is legally significant: it indicates that the Minister’s power to declare authorised unit trust schemes is statutory, and that the declaration is intended to operate within the boundaries set by the Trustees Act. In other words, the Order is not an administrative convenience; it is a formal legal act grounded in the enabling provision.
Made date and formalities. The instrument states that it was made on 19 February 2000 by the Permanent Secretary, Ministry of Law (GOH KIM LEONG). These formalities matter for validity and for establishing the instrument’s provenance in disputes, audits, or regulatory inquiries.
How Is This Legislation Structured?
The Order is structured in a simple, two-section format typical of many scheme-specific declarations:
(1) Citation. Section 1 identifies the instrument.
(2) Declaration. Section 2 contains the substantive designation of the named unit trust scheme as authorised for the purposes of the Trustees Act.
There are no schedules, no definitions section in the extract, and no additional conditions or procedural requirements stated within the Order itself. The legal effect is therefore direct: the named portfolio is authorised, and the rest of the operational consequences flow from the Trustees Act provisions that reference “authorised unit trust scheme.”
Who Does This Legislation Apply To?
This Order applies primarily to trustees and other persons whose powers, duties, or compliance obligations are affected by the Trustees Act’s treatment of authorised unit trust schemes. In practice, this includes trustees who manage trust assets and must determine whether particular investments fall within the permitted categories under the statutory regime.
It also indirectly affects unit trust scheme operators and distributors insofar as the scheme’s authorised status can influence trustee investment decisions and the scheme’s suitability for trust portfolios. However, the Order itself is not a licensing instrument for the scheme’s general operation; it is a designation for the specific purpose of the Trustees Act.
Why Is This Legislation Important?
Even though the Order is short, it can be highly consequential in trustee investment governance. Trustees are typically required to act in accordance with statutory investment powers and restrictions. Where the Trustees Act provides a framework that depends on whether a unit trust scheme is “authorised,” a declaration order like this one becomes a key compliance reference point.
For practitioners, the importance lies in certainty and auditability. When a trustee’s investment committee, compliance team, or auditors review trust investments, they need documentary support that the relevant scheme is authorised under the Trustees Act. This Order provides that support for “International Health Care Portfolio.”
Additionally, the scheme-specific nature of the declaration means that practitioners must be careful not to assume that authorisation extends to other portfolios or to similarly named products. If a trustee holds or considers a different unit trust scheme, a separate declaration (or a different legal basis) may be required. Therefore, the Order is best used as part of a broader due diligence exercise: confirming the exact scheme name, verifying the relevant declaration instrument, and ensuring the declaration is current as at the relevant time.
Finally, the Order’s “current version” status as at 27 March 2026 indicates that it remains in force in the legal database. While the extract does not show amendments, the practitioner should still check the legislation timeline and any amendment annotations to confirm whether the scheme’s authorised status has been modified, superseded, or otherwise affected by later instruments.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 3) Order 2000 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.