Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 35) Order 2001
- Act Code: TA1967-S517-2001
- Type: Subsidiary Legislation (SL)
- Enacting Formula: Made by the Minister for Law under powers conferred by section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 35) Order 2001
- Key Provisions: Section 1 (Citation); Section 2 (Declaration of an authorised unit trust scheme)
- Authorising Act: Trustees Act (Cap. 337)
- Status: Current version as at 27 Mar 2026
- Publication/Version Date: 15 Oct 2001 (SL 517/2001)
- Date Made: 11 October 2001
- Minister/Signature: Liew Heng San, Permanent Secretary, Ministry of Law
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 35) Order 2001 is a short piece of subsidiary legislation that performs a single, targeted regulatory function: it formally declares a specific collective investment arrangement—namely, the Dynamic US Continuum Fund—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In plain terms, the Order answers a practical legal question that matters to trustees, fund managers, and investors: is this particular unit trust scheme one that the law recognises as authorised under the Trustees Act framework? Where a scheme is declared authorised, it can be used in contexts governed by the Trustees Act—particularly where trustees are deciding what investments they may hold or how they may structure trust investments.
Although the text provided contains only two operative provisions, the Order’s legal effect can be significant. Authorisation under the Trustees Act is not merely a label; it is a statutory gateway that can affect the permissibility of trustee investments and the compliance posture of those administering or marketing the scheme.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard legislative housekeeping, but it is important for practitioners because it ensures correct referencing in legal documents, regulatory filings, and correspondence.
Section 2 (Authorised unit trust scheme) is the operative core of the Order. It states that the Dynamic US Continuum Fund is hereby declared as an authorised unit trust scheme for the purposes of the Trustees Act. This declaration is what triggers the legal consequences associated with “authorised” status under the Act.
From a practitioner’s perspective, the key interpretive point is that the Order does not describe the scheme’s terms, investment mandate, or governance arrangements. Instead, it relies on the statutory mechanism in section 83 of the Trustees Act, under which the Minister for Law may make orders declaring particular unit trust schemes to be authorised. The Order therefore functions as an administrative-legal designation rather than a substantive regulatory code.
Because the Order is limited to a declaration, the practical compliance work often shifts to other instruments and approvals that govern the scheme itself (for example, the scheme’s constituting documents, regulatory approvals under other financial services legislation, and ongoing disclosure obligations). However, for trustees and trust administrators, the authorisation declaration remains a critical legal fact: it determines whether the scheme falls within the class of investments that the Trustees Act contemplates.
How Is This Legislation Structured?
This Order is structured in a very simple format, consistent with many “designation” 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 is exercising that power.
(2) Section 1, which sets out the citation.
(3) Section 2, which declares the specific unit trust scheme (Dynamic US Continuum Fund) to be an authorised unit trust scheme for the purposes of the Trustees Act.
There are no schedules, definitions, or detailed conditions in the extract provided. In practice, this means the Order should be read alongside the Trustees Act itself, because the legal consequences of “authorised unit trust scheme” status will be found in the Act’s substantive provisions.
Who Does This Legislation Apply To?
The Order applies to the Dynamic US Continuum Fund insofar as it is a unit trust scheme seeking (or relying on) authorisation under the Trustees Act. The immediate legal beneficiaries of the declaration are typically trustees and trust administrators who need to determine whether they may hold or invest trust assets in that scheme under the Trustees Act investment framework.
More broadly, the declaration is relevant to parties involved in the scheme’s operation and distribution—such as the trustee-manager (or management company), fund administrators, and legal counsel advising on trust investment suitability and compliance. While the Order itself does not impose detailed obligations on these parties, it forms part of the legal environment that trustees must navigate when making investment decisions.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in trust and investment practice. Trustees operate under statutory duties and constraints. Where the Trustees Act provides a mechanism for authorising unit trust schemes, the Minister’s declaration effectively determines whether a particular scheme is within the permissible universe of investments contemplated by the Act.
For legal practitioners, the importance lies in certainty and defensibility. When advising trustees, counsel must be able to point to authoritative legal sources showing that a scheme is “authorised” for Trustees Act purposes. This can be critical in the event of disputes, audits, or regulatory inquiries. The Order provides a clear statutory basis for that status.
Additionally, the Order’s “current version” status as at 27 March 2026 indicates that the declaration remains in force (unless later amended or revoked). Practitioners should still check the legislation timeline and any subsequent amendments or replacement orders, but the available information suggests that the authorisation designation continues to be recognised in the current legal landscape.
Finally, the Order illustrates a common Singapore regulatory technique: rather than embedding detailed scheme rules in each authorisation order, the law uses a declaratory instrument to connect a specific scheme to a statutory regime. This approach streamlines the legislative process while preserving the substantive framework in the enabling Act.
Related Legislation
- Trustees Act (Cap. 337), in particular section 83 (power to declare authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 35) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.