Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2000
- Act Code: TA1967-S267-2000
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Enacting Formula: Made by the Minister for Law
- Order Date: 9 June 2000
- SL Number: SL 267/2000
- Commencement: Not stated in the extract (practitioners should confirm from the official publication)
- Status: Current version as at 27 Mar 2026
- Primary Operative Provision: Declaration of an “authorised unit trust scheme”
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2000 is a short piece of Singapore subsidiary legislation. Its central purpose is to formally “declare” a particular collective investment vehicle—an authorised unit trust scheme—for the purposes of the Trustees Act. In practical terms, it identifies one specific unit trust scheme that is eligible to be treated as an “authorised unit trust scheme” under the statutory framework governing trustees and their investments.
Under the Trustees Act, trustees are subject to rules and constraints when investing trust property. Those rules often depend on whether an investment falls within categories that the law recognises as suitable or permitted. This Order is one of the mechanisms used by the Minister for Law to expand or specify which unit trust schemes qualify as “authorised” for those purposes. The Order therefore functions as a legal gateway: once a scheme is declared authorised, it can be used by trustees in accordance with the Trustees Act’s investment framework.
Although the Order is brief, it has real consequences for trust administration, investment compliance, and documentation. For lawyers advising trustees, trust companies, or professional fiduciaries, the key question is not the length of the instrument but whether the relevant unit trust scheme is properly declared and therefore can be treated as an authorised scheme under the Act.
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. 5) Order 2000.” While this is standard drafting, it is important for legal referencing in advice, compliance checklists, and regulatory filings.
Section 2 (Authorised unit trust scheme) is the operative provision. It declares that CMG First State Internet and Communication Fund is hereby “declared as an authorised unit trust scheme for the purpose of the Act.” This declaration is the legal act that confers the “authorised” status on the specified scheme.
From a practitioner’s perspective, the wording “for the purpose of the Act” is significant. It indicates that the authorisation is not merely descriptive; it is tied to the Trustees Act’s legal effects. Those effects may include (depending on how the Trustees Act uses the term) permitting trustees to invest trust property in the declared scheme, or treating the scheme as meeting statutory criteria for trustee investments. Accordingly, the declaration should be read together with the relevant provisions of the Trustees Act that refer to “authorised unit trust schemes.”
Enacting power and ministerial discretion: The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters because it frames the Order as an exercise of statutory authority. It also suggests that the Minister for Law has the power to declare schemes, likely based on regulatory considerations and compliance with the broader unit trust and trustee investment regime. For lawyers, this reinforces that the declaration is not optional or contractual—it is a statutory designation.
Making date and signature: The Order states it was made on the 9th day of June 2000 and is signed by the Permanent Secretary, Ministry of Law. While not usually contentious, the making date can matter for version control, historical compliance, and determining whether a trustee’s investment decision occurred after authorisation.
How Is This Legislation Structured?
This Order contains a simple structure with two numbered provisions:
(1) Citation — identifies the instrument.
(2) Authorised unit trust scheme — declares the specific unit trust scheme that qualifies as authorised under the Trustees Act.
There are no schedules, definitions, or detailed conditions in the extract provided. The instrument is therefore best understood as a targeted designation order rather than a comprehensive regulatory code. In practice, lawyers should treat it as a “designation instrument” that must be cross-referenced with the Trustees Act and any related subsidiary legislation or regulatory guidance governing trustee investments.
Who Does This Legislation Apply To?
The Order applies to the extent that it affects the operation of the Trustees Act. The immediate legal beneficiaries are trustees (and potentially trust corporations and other fiduciaries acting under the Trustees Act framework) who must comply with statutory investment rules. If a trustee invests in, or holds, units in a unit trust scheme, the trustee’s ability to do so lawfully may depend on whether the scheme is an “authorised unit trust scheme.”
It also indirectly affects unit trust managers and distributors insofar as authorisation can make a scheme more attractive or usable for trustee portfolios. However, the Order itself does not impose direct obligations on the fund manager; it designates the scheme for the Trustees Act’s purposes. The direct compliance duties typically sit with trustees and those administering trust property.
Why Is This Legislation Important?
Even though the Order is short, it is important because trustee investment compliance is a high-stakes area. Trustees have fiduciary duties and must also comply with statutory constraints. If a trustee invests in a scheme that is not properly authorised (or not authorised at the relevant time), the trustee may face legal risk, including challenges to the propriety of the investment, potential breach of trust claims, and regulatory or audit findings.
For practitioners, the Order provides a clear and legally verifiable answer to a compliance question: Is the specific unit trust scheme—CMG First State Internet and Communication Fund—declared authorised under the Trustees Act? If yes, trustees can rely on that designation when structuring or reviewing trust investments, subject always to the Trustees Act’s substantive requirements and any other applicable conditions.
Finally, the instrument’s “current version” status as at 27 March 2026 is relevant for ongoing compliance. Lawyers advising on long-term trust arrangements should confirm whether the authorisation remains in force, whether there have been amendments or revocations (not shown in the extract), and whether the scheme’s name or structure has changed over time. Where fund names evolve, practitioners should verify that the declared scheme corresponds to the current fund being held or proposed.
Related Legislation
- Trustees Act (Cap. 337) — in particular section 83 (the enabling provision for making this Order) and the provisions that use the term “authorised unit trust scheme” to govern trustee investments.
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2000 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.