Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 32) Order 2001
- Act Code: TA1967-S439-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337), specifically section 83
- Enacting authority: Minister for Law
- Enacting formula / power: Made under powers conferred by section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 32) Order 2001
- Key operative provision: Declaration of an authorised unit trust scheme
- Declared scheme: United Growth Fund
- Date made: 10 September 2001
- Publication / SL number: SL 439/2001
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 32) Order 2001 is a short piece of Singapore subsidiary legislation. Its practical function is to declare a particular collective investment arrangement—an “unit trust scheme”—as an “authorised unit trust scheme” for the purposes of the Trustees Act. In plain language, it tells trustees (and other persons who rely on the Trustees Act) that a specified fund meets the statutory criteria for recognition, so that trustees may treat it as an eligible investment under the Act.
Although the Order itself contains only two substantive provisions, its legal effect can be significant. In many trust and fiduciary contexts, the ability of a trustee to invest trust assets in particular instruments depends on whether those instruments are authorised or otherwise permitted under the Trustees Act framework. By naming the United Growth Fund, the Order effectively places that fund within the category of schemes that trustees may use in accordance with the investment rules in the Trustees Act.
Accordingly, the Order is best understood as a targeted designation instrument. Rather than creating a comprehensive regulatory regime, it performs a gatekeeping role: it authorises a specific unit trust scheme for statutory purposes, enabling trustees to rely on the authorisation when making investment decisions.
What Are the Key Provisions?
Section 1 (Citation) provides the formal short title of the Order. This is standard legislative drafting: it allows practitioners to cite the instrument correctly in legal documents, correspondence, and submissions.
Section 2 (Authorised unit trust scheme) is the core operative provision. It states that “The United Growth Fund is hereby declared as an authorised unit trust scheme for the purposes of the Act.” This single sentence is the entire substantive content of the Order. The legal consequence is that, for the purposes of the Trustees Act, the United Growth Fund is treated as an authorised unit trust scheme.
From a practitioner’s perspective, the key question is not what the Order says about the fund’s commercial features, but what the Trustees Act does with the concept of an “authorised unit trust scheme.” The Order is made under section 83 of the Trustees Act. That authorising provision empowers the Minister to declare specific unit trust schemes as authorised. Once declared, trustees can typically rely on that authorisation when determining whether investing in the scheme is permitted (or treated as appropriate) under the statutory investment framework.
It is also important to note the temporal and versioning aspect. The Order is shown as “current version as at 27 Mar 2026,” with the timeline indicating it was made and published on 11 September 2001 (SL 439/2001). While the text provided does not show amendments, the “current version” status means that the declaration remains in force unless superseded or revoked by later legislation. Practitioners should still check the legislation timeline for any subsequent amendments or repeals when advising on current investment permissibility.
Finally, the enacting formula and signature block confirm that the Order was made by the Permanent Secretary, Ministry of Law (on behalf of the Minister for Law) on 10 September 2001. This matters for validity and for any challenge that might be raised about whether the correct statutory power was exercised.
How Is This Legislation Structured?
This Order is extremely concise and is structured as follows:
(1) Section 1: Citation — sets out the short title.
(2) Section 2: Authorised unit trust scheme — declares the United Growth Fund to be an authorised unit trust scheme for the purposes of the Trustees Act.
There are no schedules, definitions sections, or detailed procedural requirements in the text extract provided. The Order functions as a designation rather than a regulatory code. The broader legal framework governing trustees’ investment powers and duties is located in the Trustees Act itself, with this Order operating as a specific “authorisation” instrument within that framework.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and persons acting in a fiduciary capacity who must comply with the investment rules in the Trustees Act. In practice, this includes trustees of trusts that hold investments and need to determine whether particular investment vehicles qualify under the statutory regime.
It also has relevance for trustees’ advisers (including lawyers and investment professionals) who prepare investment policies, review trust portfolios, and document compliance with statutory investment permissions. While the Order does not directly regulate unit trust management companies, its effect is felt through the investment choices that trustees may make.
Because the Order is “for the purposes of the Act,” its scope is tied to the Trustees Act’s use of the term “authorised unit trust scheme.” Therefore, the practical applicability depends on how the Trustees Act treats authorised schemes—whether as permitted investments, as investments that meet a statutory standard, or as investments that reduce compliance risk for trustees.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in trust administration. Trustees often face constraints on how trust assets may be invested. If a particular investment vehicle is not authorised under the relevant statutory framework, trustees may be exposed to compliance breaches, potential claims for breach of trust, or the need to unwind investments. Conversely, where a scheme is authorised, trustees can more confidently justify their investment decisions as falling within the statutory permissions.
For legal practitioners, this Order is therefore a compliance and risk-management tool. When advising trustees, lawyers typically need to confirm whether a fund is authorised (or otherwise permitted) under the Trustees Act. The Order provides a clear statutory basis for the status of the United Growth Fund as an authorised unit trust scheme.
In addition, the Order illustrates a common legislative technique in Singapore: using subsidiary legislation to update and maintain eligibility lists without amending the principal Act each time. This allows the Minister to designate schemes as authorised as and when appropriate, while keeping the Trustees Act’s core investment framework stable.
Practically, practitioners should treat this Order as part of a broader due diligence checklist. Confirmation of authorisation status should be documented, and the advice should consider whether any other regulatory or contractual requirements apply (for example, whether the trustee’s investment policy, trust deed, or other statutory duties impose additional constraints beyond the existence of authorisation).
Related Legislation
- Trustees Act (Chapter 337) — in particular section 83 (power to declare authorised unit trust schemes) and the provisions governing trustees’ investment powers and duties that rely on the concept of “authorised unit trust scheme”.
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 32) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.