Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 4) Order 2001
- Act Code: TA1967-S116-2001
- Type: Subsidiary Legislation (SL)
- Status: Current version as at 27 Mar 2026
- Legislative Instrument Number: SL 116/2001
- Date Made: 1 March 2001
- Date of Citation/Publication (as shown in timeline): 2 March 2001
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Commencement Date: Not stated in the provided extract (typically implied by publication unless otherwise specified)
- Key Provisions in Extract: Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 4) Order 2001 is a short piece of Singapore subsidiary legislation made under the Trustees Act. Its practical purpose is to formally “declare” a particular collective investment arrangement—specifically, a unit trust scheme—as an authorised unit trust scheme for the purposes of the Trustees Act.
In plain language, the Order does not create a new regulatory framework from scratch. Instead, it uses the Trustees Act’s enabling power to recognise one named scheme—Five Arrows Worldwide Enterprise Trust—as meeting the statutory requirements for authorisation. Once declared, the scheme can benefit from (and must comply with) the legal consequences that attach to an “authorised unit trust scheme” under the Trustees Act.
Because the Order is limited to a declaration, much of the substantive legal effect comes from the Trustees Act itself—particularly the provisions that govern how authorised unit trust schemes are treated, what permissions or protections they receive, and what duties or compliance obligations follow from authorisation.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited: “Trustees (Authorised Unit Trust Scheme) (No. 4) Order 2001.” While this seems administrative, citation provisions matter for legal certainty. They allow practitioners to reference the instrument accurately in filings, compliance documentation, and regulatory correspondence.
Section 2 (Authorised unit trust scheme) is the core operative provision. It states that Five Arrows Worldwide Enterprise Trust is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act. This is a targeted, scheme-specific declaration: the Order does not authorise unit trust schemes generally, nor does it authorise a class of schemes. It authorises one named scheme.
From a practitioner’s perspective, the declaration is significant because the phrase “for the purpose of the Act” indicates that the authorisation is not merely descriptive. It is intended to trigger the legal consequences that the Trustees Act attaches to authorised unit trust schemes. Those consequences may include, for example, eligibility for certain trustee-related investments, recognition for trust administration purposes, and the applicability of statutory safeguards and oversight mechanisms.
Enacting formula and enabling power (as reflected in the extract) show that the Minister for Law makes the Order “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters for legal validity and interpretation. It confirms the statutory basis for the Minister’s authority and helps practitioners assess whether the declaration was made within the scope of the Act’s delegated power.
How Is This Legislation Structured?
The Order is structured in a very streamlined manner, consistent with many authorisation orders under Singapore subsidiary legislation. Based on the extract, it contains:
(1) An enacting formula that identifies the enabling authority (section 83 of the Trustees Act) and the Minister’s power to make the Order.
(2) Section 1 titled “Citation,” which sets out the short title of the instrument.
(3) Section 2 titled “Authorised unit trust scheme,” which contains the operative declaration of the named scheme.
Notably, the extract does not show additional parts, schedules, conditions, or reporting requirements within the Order itself. That is typical for a declaration order: the detailed regulatory obligations are usually found in the parent Act (the Trustees Act) and any related subsidiary legislation or regulatory guidance.
Who Does This Legislation Apply To?
The Order applies primarily to the Five Arrows Worldwide Enterprise Trust and to persons who act in relation to it in a capacity relevant to the Trustees Act—such as trustees, trustee companies, and other parties whose duties and investment powers are governed by the Act.
Although the Order is scheme-specific, its effects can extend to a broader set of stakeholders. For example, if the Trustees Act permits or regulates certain trustee investments by reference to whether a unit trust scheme is “authorised,” then trustees considering investments in the declared scheme will be directly affected. Similarly, compliance teams within the scheme’s management and administration will need to ensure that the scheme continues to meet the statutory conditions for authorisation (even if those conditions are not spelled out in the Order itself).
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in practice. In trust and trustee administration, the ability to invest in particular collective investment vehicles often depends on statutory authorisation status. A formal declaration under the Trustees Act can therefore determine whether a trustee is permitted to hold units in the scheme, whether the scheme is recognised for trust-related purposes, and how trustees document compliance with investment powers.
From an enforcement and risk perspective, authorisation orders also provide a clear legal reference point. Practitioners can verify whether a scheme is “authorised” by consulting the relevant order(s). This reduces uncertainty and supports defensible decision-making—particularly where trustees must demonstrate that their investment choices were within legal authority.
Finally, the Order’s “current version” status as at 27 Mar 2026 indicates that the declaration remains in force in the consolidated legal database. For ongoing compliance, practitioners should still check the legislation timeline and any amendments or related instruments to confirm whether the authorisation has been varied, superseded, or otherwise affected since 2001. The extract indicates that the instrument is currently available as a consolidated version, but it does not itself confirm whether there have been amendments to the declaration.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 4) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.