Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 6) Order 1999
- Act Code: TA1967-S120-1999
- Type: Subsidiary Legislation (SL)
- Status: Current version as at 27 Mar 2026
- Enacting Formula: Made by the Minister for Law under powers conferred by section 86 of the Trustees Act
- Primary Purpose: To declare a specific unit trust scheme as an “authorised unit trust scheme” for the purposes of the Trustees Act
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Authorised unit trust scheme)
- Authorising Act: Trustees Act (Cap. 337)
- Legislative Instrument Number: SL 120/1999
- Date Made: 20 March 1999
- Commencement Date: Not stated in the provided extract (practitioners should confirm in the official publication)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 6) Order 1999 is a short but legally significant subsidiary instrument. In plain terms, it identifies a particular investment product—United Regional Growth Fund—and formally recognises it as an “authorised unit trust scheme” under the Trustees Act.
Although the Order itself contains only two operative provisions, its effect is important for the regulatory and legal framework governing unit trusts in Singapore. The designation as an authorised scheme is not merely administrative: it determines whether the scheme qualifies for the legal treatment and permissions contemplated by the Trustees Act. In practice, such authorisation can affect how trustees may deal with the scheme, what compliance expectations apply, and how the scheme is positioned within the statutory regime.
Accordingly, this Order should be read together with the Trustees Act—particularly the provision that empowers the Minister to make such declarations (here, section 86). The Order functions as a “gateway” instrument: it does not create a full regulatory code on its own, but it enables the Trustees Act’s authorisation-based consequences to attach to the named scheme.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the instrument may be cited: “Trustees (Authorised Unit Trust Scheme) (No.6) Order 1999.” While this is standard legislative drafting, citation provisions matter for legal certainty. They allow practitioners, regulators, and market participants to refer unambiguously to the instrument when assessing whether a scheme is authorised and when determining the relevant legal basis for that status.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that United Regional Growth Fund is hereby declared as an authorised unit trust scheme for the purposes of the Act. This is the core legal act: the Minister’s declaration attaches statutory significance to the named fund.
From a practitioner’s perspective, the key interpretive point is that the authorisation is scheme-specific. The Order does not authorise “unit trust schemes generally” or confer authorisation on a class of products. Instead, it identifies one fund by name. That means that legal analysis must focus on whether the relevant product is indeed the same scheme described as “United Regional Growth Fund,” including whether there have been subsequent changes in name, structure, or constitution that could affect whether the authorisation remains applicable.
Enacting authority and ministerial power. The Order is made “in exercise of the powers conferred by section 86 of the Trustees Act.” This indicates that the Minister’s declaration is a statutory power, not a discretionary administrative label. Practitioners should therefore consult section 86 to understand the criteria, process, and legal consequences of authorisation. Even though those details are not contained in the extract, they are essential for advising on compliance, challenges, or reliance on the authorisation.
Formal making and identification. The Order includes the date it was made (20 March 1999) and is signed by the Permanent Secretary, Ministry of Law. It also includes a reference number in square brackets (“[LAW 20/003/069]”). These elements support traceability and can be relevant when reconstructing the legislative history or verifying the instrument’s authenticity in due diligence.
How Is This Legislation Structured?
This subsidiary legislation is structured in a minimal, two-provision format typical of authorisation orders. It contains:
(1) A citation provision (Section 1), which identifies the instrument; and (2) an authorisation provision (Section 2), which declares the named unit trust scheme to be authorised under the Trustees Act.
There are no schedules, definitions, or detailed regulatory requirements in the extract. Instead, the Order relies on the Trustees Act as the substantive framework. In other words, the Order is best understood as a declaratory instrument that activates the legal effects of the Trustees Act for the specified scheme.
Who Does This Legislation Apply To?
The immediate legal effect of the Order is directed at the unit trust scheme named in Section 2—United Regional Growth Fund. However, the practical beneficiaries and affected parties are broader. In Singapore’s legal ecosystem, authorisation under the Trustees Act typically matters to parties such as:
- trustees who may be required or permitted to deal with authorised unit trust schemes under the statutory regime;
- scheme operators/managers who seek to market or administer the fund in a manner consistent with statutory authorisation;
- investors and counterparties who rely on the scheme’s authorised status as part of legal due diligence and risk assessment.
Because the Order is scheme-specific, it does not automatically apply to other unit trust schemes. A practitioner advising on a different fund must check whether there is a separate authorisation order (or whether the scheme has been authorised under a different instrument or later version). The “current version as at 27 Mar 2026” status also signals that the instrument may still be in force or may have been consolidated/maintained in the legislation database; nevertheless, the continuing applicability to the fund should be verified against any subsequent amendments, repeals, or changes to the scheme.
Why Is This Legislation Important?
Even though the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 1999 is brief, it can be highly consequential in practice. Authorised status under the Trustees Act can influence how trustees are permitted to hold, administer, or otherwise engage with unit trust investments. For legal practitioners, this means the Order can be central to advising on the legality of trustee actions and the compliance posture of the scheme.
From an enforcement and compliance standpoint, authorisation orders help regulators and courts identify which schemes fall within the statutory framework. Where a trustee’s conduct depends on whether a scheme is authorised, the absence of authorisation could expose the trustee (and potentially other parties) to legal risk, including challenges to the propriety of transactions or the validity of certain arrangements.
For due diligence, the Order provides a documentary basis to confirm that a named fund has been declared authorised. This is particularly relevant when preparing legal opinions, reviewing offering documents, assessing trustee investment policies, or responding to investor queries about the legal status of the scheme. Practitioners should treat the Order as a primary source document evidencing authorisation, but they should also cross-check the Trustees Act provisions that attach legal consequences to authorised schemes.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 86 (the enabling provision referenced in the Order)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.