Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 36) Order 1999
- Act Code: TA1967-S522-1999
- Legislation Type: Subsidiary legislation (Order)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Key Power Used: Section 83 of the Trustees Act
- Commencement: Not stated in the extract (the Order is dated 26 November 1999 and published as SL 522/1999)
- Publication / Citation: No. S 522 (SL 522/1999)
- Status (as provided): Current version as at 27 Mar 2026
- Primary Substantive Provision: Declaration of an authorised unit trust scheme
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 36) Order 1999 is a short piece of subsidiary legislation that performs a specific regulatory function: it formally declares a particular collective investment arrangement—an “authorised unit trust scheme”—for the purposes of the Trustees Act. In practical terms, it identifies which unit trust scheme is recognised by the Minister for Law as meeting the statutory framework that allows trustees to deal with such schemes under the Trustees Act.
Although the Order itself is brief, its legal effect can be significant for market participants. Trustees, custodians, and other fiduciaries often need to ensure that the investments they make (or permit) fall within categories authorised by law. By declaring a named unit trust scheme as “authorised”, the Order helps trustees comply with statutory investment and trust administration requirements, reducing uncertainty about whether a particular scheme is eligible for trustee investment.
In the extract provided, the Order names “CMG First State, Asia Innovation and Technology Fund” as the authorised unit trust scheme. This declaration is made under the Minister’s powers in section 83 of the Trustees Act. The Order therefore operates as a targeted legal recognition rather than a comprehensive regulatory code.
What Are the Key Provisions?
1. Citation (Section 1)
Section 1 provides the short title: “Trustees (Authorised Unit Trust Scheme) (No. 36) Order 1999.” This is standard legislative drafting, enabling practitioners to cite the instrument accurately in correspondence, filings, and legal submissions.
2. Declaration of an authorised unit trust scheme (Section 2)
The core substantive provision is section 2. It states that “CMG First State, Asia Innovation and Technology Fund” is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act.
This declaration is the legal mechanism by which the scheme becomes “authorised” under the Trustees Act framework. While the extract does not reproduce section 83 of the Trustees Act, the structure indicates that section 83 empowers the Minister to make orders declaring specified unit trust schemes as authorised. The effect is that trustees can treat the named scheme as falling within the statutory category relevant to their duties.
3. Making and date of the Order (Enacting formula and “Made” clause)
The enacting formula records that the Minister for Law makes the Order “in exercise of the powers conferred by section 83 of the Trustees Act.” The “Made” clause indicates it was made on 26 November 1999 by GOH KIM LEONG, Permanent Secretary, Ministry of Law. The publication reference “SL 522/1999” and the timeline entry “30 Nov 1999” suggest the Order was published around late November 1999.
For practitioners, the date and citation matter when assessing whether a scheme was authorised at a particular time (for example, for historical trust administration, compliance audits, or disputes about investment propriety). Even where the current version remains “current”, the relevant question in many cases is whether authorisation existed during the relevant period.
How Is This Legislation Structured?
The Order is structured in a conventional, minimal format typical of authorisation orders under enabling legislation. It contains:
(a) An enacting formula referencing the enabling power in section 83 of the Trustees Act;
(b) A short title provision (Section 1); and
(c) A single substantive provision (Section 2) declaring the named unit trust scheme to be authorised for the purposes of the Trustees Act.
There are no parts or schedules in the extract, and no additional conditions, reporting requirements, or procedural steps are set out within the Order itself. Any further operational requirements (such as how trustees must use authorised schemes, or what happens if a scheme ceases to exist) would typically be found in the Trustees Act and related subsidiary instruments, rather than in this specific Order.
Who Does This Legislation Apply To?
The Order applies primarily to persons who act in a trustee capacity or who are subject to the investment and administration rules under the Trustees Act. In practice, this includes trustees of trusts, trust companies, and other fiduciaries whose investment powers and duties are governed by the Trustees Act. The authorisation of a unit trust scheme is relevant to how such trustees may invest trust assets, and how they demonstrate compliance with statutory standards.
It also has an indirect effect on the unit trust scheme itself and its promoters/managers, because authorisation can make the scheme more accessible to trustees seeking eligible investments. However, the Order does not impose regulatory obligations on the scheme in the extract; rather, it confers a legal status (“authorised unit trust scheme”) that interacts with trustee law.
Why Is This Legislation Important?
Even though the Order is short, it can be important in legal practice because trustee investment decisions often require careful compliance with statutory categories. When trustees invest in collective investment schemes, they must ensure that the schemes fall within the permitted universe under the Trustees Act. An “authorised unit trust scheme” designation provides a clear legal basis for trustees to include the scheme in their portfolios, subject to any other general fiduciary and statutory constraints.
From a compliance and risk perspective, the authorisation status can be critical in audits and in resolving disputes. For example, if a beneficiary challenges a trustee’s investment performance or alleges breach of trust, the trustee may need to show that the investment was within the scope of authorised investments at the relevant time. A published Order with a specific citation and date can serve as documentary evidence of authorisation.
Additionally, the Order illustrates how Singapore’s legal framework uses enabling legislation to create targeted authorisation instruments. Rather than embedding authorisation details in the Trustees Act itself, the Minister issues separate orders for specific schemes. This approach allows the regulatory system to update the authorised list over time without amending the Act. Practitioners should therefore treat such orders as part of a broader “authorised scheme” ecosystem and verify the current and historical status of any scheme relevant to their matter.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision referenced in the Order)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 36) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.