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 No.: 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
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 4) Order 2001 is a short piece of subsidiary legislation made under the Trustees Act. Its practical function is to “declare” a specific collective investment arrangement—namely, a particular unit trust—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 operates as a legal recognition mechanism: once a unit trust scheme is declared “authorised”, it becomes eligible to fall within the statutory regime that the Trustees Act applies to authorised schemes. This typically matters for how trustees and related parties can structure, administer, and market the scheme, and for what legal permissions or compliance expectations attach under the Act.
Because the Order is numbered “(No. 4)”, it forms part of a series of similar instruments. Each such Order generally identifies a particular unit trust scheme by name and declares it authorised. The legal effect is therefore scheme-specific, but the statutory purpose is consistent: to enable the Trustees Act to apply to designated unit trust schemes that meet the criteria contemplated by the enabling provision.
What Are the Key Provisions?
Section 1 (Citation) provides the formal reference for the instrument. This is standard in Singapore subsidiary legislation and ensures that practitioners can reliably cite the Order in filings, correspondence, and legal analysis. For example, when advising trustees, fund managers, or custodians, counsel may need to reference the specific authorisation instrument that covers a particular scheme.
Section 2 (Authorised unit trust scheme) is the substantive provision. It declares that “Five Arrows Worldwide Enterprise Trust is hereby declared as an authorised unit trust scheme for the purpose of the Act.” This single sentence is the core legal act: it identifies the scheme and confers the “authorised” status contemplated by the Trustees Act.
From a practitioner’s perspective, the key question is what “for the purpose of the Act” means. Under the Trustees Act, the authorisation status is typically linked to the statutory permissions and obligations that apply to trustees administering unit trust schemes. While the extract does not reproduce the Trustees Act provisions, the enabling formula makes clear that the Minister for Law is acting under section 83 of the Trustees Act. That means the authorisation is not merely administrative—it is a statutory designation that triggers the legal consequences built into the Act.
Enacting formula and making authority are also important. The Order states that it is made “in exercise of the powers conferred by section 83 of the Trustees Act” by the “Minister for Law.” This confirms that the authorisation is grounded in delegated legislative power. In practice, this matters for validity and for any challenge: the authorisation must be within the scope of the enabling provision, and the Minister must follow the statutory process (including any prerequisites, consultations, or satisfaction of conditions that section 83 may require).
Finally, the Order includes the making date and signature—“Made this 1st day of March 2001” and signed by a senior official (Permanent Secretary, Ministry of Law). While this is not a substantive compliance requirement for regulated parties, it is relevant for confirming the instrument’s authenticity and effective date (as reflected in the timeline and publication record).
How Is This Legislation Structured?
This Order is extremely concise and is structured around two operative elements:
(1) Citation — Section 1 sets out how the instrument is to be cited.
(2) Declaration of authorisation — Section 2 identifies the specific unit trust scheme that is declared authorised.
There are no schedules, no definitions section in the extract, and no additional procedural or substantive conditions within the Order itself. The “structure” therefore reflects its role as a targeted designation instrument rather than a comprehensive regulatory code. The broader regulatory content is located in the Trustees Act and any other subsidiary legislation or regulatory guidance that governs authorised unit trust schemes.
Who Does This Legislation Apply To?
The Order applies to the unit trust scheme named in it—Five Arrows Worldwide Enterprise Trust—and to the persons who act in relation to that scheme in their capacities under the Trustees Act regime. This typically includes the trustee (and potentially other scheme operators such as the manager or responsible parties), insofar as their rights and duties depend on whether the scheme is “authorised” under the Act.
More broadly, the Order is relevant to market participants and advisers who need to determine whether a particular unit trust scheme falls within the statutory category of authorised schemes. For example, lawyers advising trustees, fund managers, distributors, or investors may need to confirm authorisation status as part of due diligence, compliance checks, or contractual representations.
Because the Order is scheme-specific, it does not automatically apply to other unit trust schemes. Other schemes would require their own authorisation orders (or inclusion under a different authorisation mechanism) to obtain the same statutory status.
Why Is This Legislation Important?
Although the Order is short, its importance lies in the legal consequences of “authorised” status under the Trustees Act. In regulated finance contexts, authorisation is often the gateway to statutory treatment—such as eligibility to be administered by trustees under the Act, and the application of particular compliance standards, disclosure expectations, or governance requirements that the Act imposes for authorised schemes.
For practitioners, the Order is a key document for status verification. When advising on the legality of scheme operations, the enforceability of trustee-related arrangements, or the regulatory posture of a fund, counsel must be able to point to the specific authorisation instrument. The Order provides that documentary anchor: it explicitly declares the scheme authorised.
From an enforcement and risk perspective, authorisation status can affect liability analysis. If a scheme is not authorised (or if authorisation has lapsed or been revoked—if the Trustees Act provides for such outcomes), parties may face regulatory breaches or contractual disputes about whether the scheme was properly constituted or permitted. Even where the extract does not address revocation, the existence of a formal authorisation order underscores that the legal status is not presumed; it is conferred by statute through ministerial designation.
Finally, the Order’s “(No. 4)” numbering and its place in a timeline of similar instruments highlight that authorisation is an ongoing process. Practitioners should therefore treat authorisation as dynamic: they should check the latest version and the current status of the relevant order (as reflected in the platform’s “current version as at 27 Mar 2026” indicator) and cross-check whether any amendments or related instruments affect the scheme’s status.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for making this Order)
- Other Trustees (Authorised Unit Trust Scheme) Orders (e.g., instruments designated as “(No. 1)”, “(No. 2)”, “(No. 3)”, etc., which similarly declare specific schemes authorised)
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.