Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2001
- Act Code: TA1967-S223-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Enacting Provision: Powers under section 83 of the Trustees Act
- Commencement: Not stated in the extract (order made on 11 April 2001; published as SL 223/2001)
- Key Provisions: Section 1 (Citation); Section 2 (Declaration of an authorised unit trust scheme)
- Current Status: Current version as at 27 Mar 2026
- Legislative Instrument Number: SL 223/2001
- Date Made: 11 April 2001
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2001 is a short piece of Singapore subsidiary legislation made under the Trustees Act. In practical terms, it performs a single legal function: it designates a particular collective investment vehicle—“Schroder European Equity Fund”—as an “authorised unit trust scheme” for the purposes of the Trustees Act.
Although the Order itself is brief, its effect can be significant for the trustees, managers, and investors involved with the named fund. In Singapore’s regulatory framework, the term “authorised unit trust scheme” is not merely descriptive; it is a legal status that can determine whether certain trust-related activities may be carried out in relation to the scheme, and whether trustees can treat the scheme in accordance with the permissions and constraints set out in the Trustees Act.
Accordingly, this Order should be read together with the Trustees Act. The Order does not create a standalone regulatory regime for unit trusts. Instead, it “turns on” the statutory consequences that flow from the Trustees Act once a scheme is declared authorised.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard drafting: it enables lawyers, regulators, and regulated parties to refer to the instrument consistently in legal documents, compliance materials, and correspondence.
Section 2 (Authorised unit trust scheme) is the substantive provision. It states that “Schroder European Equity Fund” is declared as an authorised unit trust scheme for the purpose of the Trustees Act. This declaration is the legal mechanism by which the fund receives the status that triggers the relevant provisions of the Trustees Act.
From a practitioner’s perspective, the key question is not only that the fund is named, but what “authorised” status means in the Trustees Act context. While the extract does not reproduce the Trustees Act provisions, section 83 is the enabling power. Typically, such enabling provisions allow the Minister to designate particular schemes as authorised, thereby permitting trustees to invest in, hold, or otherwise deal with those schemes subject to the statutory framework. The Order therefore operates as a targeted designation instrument: it identifies a specific scheme that qualifies for the statutory treatment reserved for authorised unit trust schemes.
Enacting formula and making date confirm the legal authority and timing. The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act” by the Minister for Law. It is “made this 11th day of April 2001” and published as SL 223/2001. For legal work—particularly when advising on historical transactions, compliance timelines, or the validity of trustee actions—these details help establish when the designation took effect and under what statutory authority.
How Is This Legislation Structured?
The Order is structured in a conventional, minimal format typical of designation orders. It contains:
(1) A citation provision (Section 1), and (2) a single substantive declaration (Section 2) identifying the authorised unit trust scheme.
There are no schedules, no definitions section in the extract, and no procedural requirements set out within the Order itself. The instrument is therefore best understood as a “designation” layer that relies on the broader statutory architecture of the Trustees Act. In other words, the Order is not a comprehensive regulatory code; it is a legal switch that activates the Trustees Act’s consequences for the named fund.
Who Does This Legislation Apply To?
Although the Order names a specific fund, its practical application extends to parties who interact with the fund in a trustee context. This includes trustees (and potentially trustee companies), persons advising trustees, and any regulated entities whose operations depend on whether a unit trust scheme is authorised under the Trustees Act.
In legal practice, the “audience” is therefore not limited to the fund manager alone. Rather, it includes trustees who must comply with statutory investment and trust administration rules. If the Trustees Act restricts or prescribes how trustees may deal with unit trust schemes, the authorised status conferred by this Order becomes relevant to trustees’ compliance assessments, investment decisions, and documentation.
Why Is This Legislation Important?
Even though the Order is short, it can be highly consequential. Designation as an “authorised unit trust scheme” can affect whether trustees are permitted to hold or invest trust assets in that scheme, and whether the scheme qualifies for treatment under statutory provisions that are otherwise unavailable for non-authorised schemes. For practitioners, this means the Order can be central to advising on the legality and compliance of trustee investments.
From an enforcement and risk perspective, the importance lies in certainty. Trustees are expected to follow statutory requirements. If a trustee invests in a unit trust scheme that is not authorised (or invests in a scheme without confirming its authorised status), the trustee may face compliance breaches, potential remediation obligations, and—depending on the circumstances—liability exposure. Conversely, where the scheme is properly designated, trustees can rely on the statutory status (subject to any additional conditions in the Trustees Act and related regulatory instruments).
Finally, the Order’s “current version” status as at 27 Mar 2026 indicates that the designation remains in force in the consolidated legal record. For ongoing administration, lawyers should verify whether the scheme remains the same entity and whether any subsequent amendments or replacement orders have occurred. While this particular extract does not show later amendments, the existence of a “current version” label underscores the need for practitioners to check the legislation timeline and confirm the operative version for the relevant transaction date.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision under which the Minister makes orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 5) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.