Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 5) Order 1999
- Act Code: TA1967-S119-1999
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Power: Section 86 of the Trustees Act
- Enacting Formula: Minister for Law makes the Order in exercise of powers under section 86
- Primary Function: Declares a specific unit trust scheme as “authorised” for purposes of the Trustees Act
- Declared Scheme: United International Growth Fund
- Citation / Short Title: Trustees (Authorised Unit Trust Scheme) (No.5) Order 1999
- Date Made: 20 March 1999
- SL Number: SL 119/1999
- Status: Current version as at 27 March 2026 (per provided extract)
- Commencement Date: Not stated in the extract (practitioners should confirm from the official publication)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 5) Order 1999 is a short piece of subsidiary legislation made under the Trustees Act (Cap. 337). In plain terms, it performs a single regulatory act: it designates a particular collective investment scheme—United International Growth Fund—as an “authorised unit trust scheme” for the purposes of the Trustees Act.
In Singapore’s legal framework, the term “authorised unit trust scheme” matters because it affects how trustees may deal with, hold, or administer interests in unit trusts under the Trustees Act regime. While the extract provided contains only two operative provisions, the legal effect is meaningful: it determines whether a named scheme qualifies for the statutory permissions and protections that attach to authorised schemes.
Orders of this type are typically used to update the list of schemes that have been approved or recognised by the relevant Minister under the enabling power in the Trustees Act. The Order therefore functions as an administrative designation instrument rather than a comprehensive regulatory code. For practitioners, the key is to understand that the Order is not about the internal operation of the fund itself; rather, it is about the fund’s status in relation to the Trustees Act.
What Are the Key Provisions?
Section 1 (Citation) provides the short title of the Order: “Trustees (Authorised Unit Trust Scheme) (No.5) Order 1999.” This is standard legislative drafting. For lawyers, the citation is important for accurate referencing in legal documents, correspondence, and filings, particularly when multiple “authorised unit trust scheme” orders exist.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that United International Growth Fund is hereby declared as an authorised unit trust scheme for the purposes of the Trustees Act. The legal consequence is that the scheme’s interests can be treated as falling within the statutory category of authorised schemes under the Trustees Act.
Although the extract does not reproduce the text of section 86 of the Trustees Act, the enacting formula makes clear that the Minister for Law acts under section 86 to make this designation. In practice, this means the Minister has the statutory discretion to declare specific unit trust schemes as authorised. The declaration is scheme-specific: it names the fund, rather than authorising a class of schemes generally.
Practical legal impact of the declaration. For trustees, trust administrators, and legal advisers, the designation can affect whether trustees are permitted (or better positioned) to invest in, hold, or otherwise administer unit trust interests under the Trustees Act framework. It may also affect how trustees demonstrate compliance with statutory investment or administration requirements, depending on how the Trustees Act uses the concept of “authorised unit trust scheme.” Accordingly, counsel should treat the Order as a compliance reference point: it is evidence that the named scheme meets the statutory threshold for authorised status.
How Is This Legislation Structured?
This Order is extremely concise and is structured around two provisions only:
(1) Citation: Section 1 sets out the short title.
(2) Authorisation: Section 2 declares the specific unit trust scheme that is authorised under the Trustees Act.
There are no schedules, no definitions section in the extract, and no procedural requirements set out within the Order itself. The Order relies on the broader statutory framework in the Trustees Act for the substantive legal consequences of being “authorised.” In other words, the Order is best understood as a designation instrument that plugs into the Trustees Act.
Who Does This Legislation Apply To?
The Order applies to the extent that it determines the status of United International Growth Fund as an “authorised unit trust scheme” under the Trustees Act. While the Order is directed at the scheme’s legal classification, the practical beneficiaries and affected parties are typically those who operate within the Trustees Act regime—most notably trustees and those advising or acting for trustees.
In practice, the Order is relevant to: (i) trustees who may consider unit trust investments or holdings; (ii) trust companies and administrators managing trust assets; (iii) lawyers drafting or reviewing trust deeds and investment policies; and (iv) compliance teams assessing whether a particular investment vehicle qualifies under statutory criteria. The scheme itself may also be indirectly affected, because authorised status can influence trustee willingness and eligibility to invest, and it may be referenced in offering or administration documentation.
Why Is This Legislation Important?
Despite its brevity, the Order is important because it provides a formal legal designation that can be relied upon in trustee decision-making and compliance. In trust and investment practice, eligibility and statutory status often determine what trustees may do and how they must justify their actions. An “authorised unit trust scheme” designation can therefore be a critical element in meeting fiduciary and statutory duties.
From an enforcement and risk perspective, the value of the Order lies in its role as a clear, authoritative reference. If a trustee invests in a unit trust scheme that is not authorised (or cannot be shown to be authorised), the trustee may face compliance concerns, potential challenges to investment decisions, or difficulties in demonstrating that the investment was within the scope permitted by the Trustees Act. Conversely, where the scheme is named in an Order made under section 86, trustees and their advisers can point to the statutory basis for authorised status.
For practitioners, the Order also highlights a broader drafting and regulatory pattern: authorised status is conferred through specific Ministerial Orders. This means that legal research must not stop at the Trustees Act alone. Counsel should verify whether the relevant scheme is named in the current version of the relevant “authorised unit trust scheme” orders, and whether any amendments, revocations, or superseding instruments exist.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 86 (the enabling provision referenced in the enacting formula)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 5) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.