Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 30) Order 2002
- Act Code: TA1967-S486-2002
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Power: Section 83 of the Trustees Act
- Enacting Formula / Citation: “This Order may be cited as the Trustees (Authorised Unit Trust Scheme) (No. 30) Order 2002.”
- Key Provision: Section 2 (declares specified funds as “authorised unit trust schemes” for the purposes of the Trustees Act)
- Making Date: 14 September 2002
- SL Number: SL 486/2002
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 30) Order 2002 is a Singapore subsidiary legislation instrument made under the Trustees Act. Its central function is administrative and regulatory: it formally “declares” certain collective investment funds as authorised unit trust schemes for the purposes of the Trustees Act.
In plain language, the Order identifies two specific unit trust portfolios—Short Maturity Dollar Portfolio and American Growth & Value Opportunities Portfolio—and confirms that they meet the regulatory threshold to be treated as authorised schemes under the statutory framework. Once declared, these funds can operate within the legal regime applicable to authorised unit trust schemes, including the associated trustee and regulatory expectations that flow from the Trustees Act.
Although the text extract is brief, the legal effect can be significant. “Authorised” status typically matters for compliance, governance, and the ability of the scheme to be marketed or managed in a manner consistent with the Act’s requirements. For practitioners, the Order is therefore best understood as a targeted designation instrument: it does not create a general licensing system from scratch, but it activates the Trustees Act’s regime for the named funds.
What Are the Key Provisions?
Section 1 (Citation) provides the formal short title of the instrument. While this is standard legislative drafting, it is still relevant in practice because it helps identify the exact legal instrument when advising on compliance, due diligence, or historical regulatory status.
Section 2 (Authorised unit trust schemes) is the operative provision. It states that “the following funds are hereby declared as authorised unit trust schemes for the purposes of the Act” and then lists the two portfolios. The legal consequence is that these funds are brought within the scope of the Trustees Act’s provisions that apply to authorised unit trust schemes.
The two declared funds are:
- (a) Short Maturity Dollar Portfolio
- (b) American Growth & Value Opportunities Portfolio
From a practitioner’s perspective, the precision of the names matters. When advising trustees, fund managers, distributors, or investors, it is important to confirm that the scheme being discussed is indeed the same portfolio as declared in the Order. In disputes or regulatory inquiries, the question is often not whether a fund is “similar,” but whether it is the exact scheme that has been declared authorised under the relevant instrument.
Enacting formula and making authority further clarify the legal basis. The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This indicates that the Minister for Law has delegated or conferred authority under the Act to designate authorised unit trust schemes by order. Practically, this means the designation is part of a broader statutory scheme under the Trustees Act, and the Order should be read alongside the Act’s definitions and compliance requirements.
Although the extract does not reproduce the full text of the Trustees Act, the practitioner should treat this Order as a “gateway” document. It does not, by itself, set out trustee duties or investor protections; rather, it determines whether the named funds fall within the category of schemes that are subject to those duties and protections under the Act.
How Is This Legislation Structured?
This Order is structured in a very concise manner, reflecting its function as a designation instrument rather than a comprehensive regulatory code. It contains:
- Section 1: Citation (short title)
- Section 2: Authorised unit trust schemes (the declaration list)
There are no additional parts or schedules in the extract. The structure is therefore straightforward: the legal instrument identifies the funds and declares them authorised. In practice, the “structure” of legal analysis requires looking beyond the Order itself to the authorising Act—the Trustees Act (Cap. 337)—to understand what “authorised unit trust scheme” status triggers.
Who Does This Legislation Apply To?
The Order applies to the unit trust schemes named in Section 2—namely, the Short Maturity Dollar Portfolio and the American Growth & Value Opportunities Portfolio. However, the practical reach extends to the persons and entities involved in operating those schemes, because authorised status under the Trustees Act typically affects the trustee’s regulatory obligations and the scheme’s compliance posture.
Accordingly, the Order is relevant to:
- Trustees administering or overseeing the authorised unit trust schemes;
- Fund managers and scheme operators responsible for ensuring that the scheme’s structure and conduct align with the Trustees Act regime applicable to authorised schemes;
- Distributors and intermediaries who need to understand the regulatory status of the products they market; and
- Legal advisers and compliance teams conducting due diligence on whether a particular portfolio is authorised under the Trustees Act.
For investors, the Order is usually not something they read directly; instead, it informs the legal framework under which the scheme is authorised. For practitioners, the key is to connect the designation in this Order to the substantive obligations in the Trustees Act and any related subsidiary legislation or regulatory guidance.
Why Is This Legislation Important?
Even though the Order is short, it is important because it confers a specific regulatory label—“authorised unit trust scheme”—on the named portfolios. In financial services regulation, such labels often determine which statutory regime applies, what governance standards are expected, and what compliance steps are required.
From an enforcement and compliance standpoint, authorised status can affect how trustees must structure oversight, how scheme documentation is handled, and how regulatory expectations are met. If a portfolio is not properly authorised (or if the authorisation has lapsed or been replaced), the trustee and scheme operator may face compliance risks, including potential breaches of statutory duties or regulatory non-compliance.
For legal practitioners, the Order is also valuable in transactional and due diligence contexts. When advising on acquisitions, restructurings, fund launches, or cross-border distribution, counsel must verify the regulatory status of the product. This Order provides a clear, dated legal basis (made on 14 September 2002; SL 486/2002) for the authorised designation of the two portfolios.
Finally, the “current version as at 27 March 2026” status indicates that the Order remains in force in its current form as of that date. Practitioners should still check the legislation timeline for amendments (if any) and confirm whether the authorised status continues for the relevant portfolios, particularly where scheme names or structures may evolve over time.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for making orders declaring authorised unit trust schemes)
- Timeline / Legislation amendments history (to confirm whether the Order has been amended, replaced, or superseded)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 30) Order 2002 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.