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
- Legislative Instrument No.: SL 120/1999
- Date Made: 20 March 1999
- Date of Citation/SL Number: 25 March 1999
- Authorising Act: Trustees Act (Chapter 337)
- Key Enabling Provision: Section 86 of the Trustees Act
- Key Sections in the Order: Section 1 (Citation); Section 2 (Authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 6) Order 1999 is a short subsidiary legislative instrument made under the Trustees Act (Chapter 337). In plain terms, it is an official “designation” order: it identifies a particular collective investment arrangement—specifically, a named unit trust scheme—as an authorised unit trust scheme for the purposes of the Trustees Act.
Authorised unit trust schemes are relevant because the Trustees Act regulates the role and responsibilities of trustees in relation to certain trust arrangements. By declaring a scheme to be “authorised”, the Minister for Law enables that scheme to fall within the statutory framework that applies to authorised schemes. This can affect how trustees may act, how the scheme is treated under the Act, and what compliance expectations attach to the scheme and its trustee(s).
Although the Order itself contains only two operative provisions, its legal effect is significant: it confers a regulatory status on the named scheme. For practitioners, the key is to understand that this is not a standalone regulatory regime; rather, it is a targeted instrument that plugs a specific scheme into the broader statutory scheme under the Trustees Act.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the instrument may be cited. This is standard legislative drafting. For legal work, citation provisions matter mainly for accurate referencing in submissions, correspondence, and compliance documentation.
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 Trustees Act. In other words, the Minister for Law has exercised the statutory power to designate this particular scheme as authorised.
From a practitioner’s perspective, the designation raises practical questions that are often addressed by the broader Trustees Act and related regulatory materials: what conditions must be met for a scheme to be authorised, what ongoing obligations apply to trustees administering such schemes, and what legal consequences follow if a scheme is not authorised (or if authorisation is withdrawn or amended). While this Order does not itself list conditions or obligations, it is the legal “gateway” that brings the scheme within the Act’s authorised framework.
Enabling power and ministerial action are also important. The enacting formula states that the Minister for Law makes the Order “in exercise of the powers conferred by section 86 of the Trustees Act.” This signals that the Minister’s authority is statutory and that the designation is grounded in a specific legislative discretion. For compliance and regulatory analysis, it is therefore necessary to read section 86 of the Trustees Act alongside this Order to understand the scope of the Minister’s power and any procedural or substantive requirements that must be satisfied.
How Is This Legislation Structured?
This Order is extremely concise and is structured as follows:
1. Citation — identifies the instrument.
2. Authorised unit trust scheme — declares the named unit trust scheme (United Regional Growth Fund) to be authorised under the Trustees Act.
There are no schedules, definitions, reporting requirements, enforcement provisions, or administrative procedures within the text provided. The Order functions as a declaratory instrument. Its “structure” is therefore best understood as a legislative mechanism that relies on the Trustees Act for the substantive regulatory content, while this Order supplies the scheme-specific authorisation.
Who Does This Legislation Apply To?
The Order applies to the extent that it designates United Regional Growth Fund as an authorised unit trust scheme under the Trustees Act. In practical terms, the relevant stakeholders are typically the trustee(s) and the scheme operators/management who administer the unit trust and ensure that the scheme’s arrangements comply with the Trustees Act framework applicable to authorised schemes.
Because the Order itself is scheme-specific, it does not generally apply to all unit trust schemes in Singapore—only to the named scheme. However, the legal consequences of being “authorised” will generally flow to those who act in relation to the scheme and who must comply with the Trustees Act’s requirements for authorised unit trust schemes.
Why Is This Legislation Important?
Even though the Order is brief, it is legally important because it confers a regulatory status. In regulated financial and trust contexts, “authorised” designations are often the difference between arrangements that are within a statutory framework and arrangements that are not. For trustees and scheme managers, this can affect how they structure their operations, what statutory permissions or classifications they rely on, and how they demonstrate compliance to regulators, investors, auditors, and counterparties.
From an enforcement and risk perspective, the designation also matters for governance and accountability. If a scheme is authorised, trustees may be expected to meet the statutory standards applicable to authorised schemes. Conversely, if there is any doubt about whether a scheme is authorised (or whether the authorisation remains current), that uncertainty can create compliance risk, including potential regulatory scrutiny and reputational harm.
For practitioners advising on due diligence, corporate transactions, or ongoing compliance, this Order is a key document to confirm the scheme’s regulatory standing. It is also useful when preparing legal opinions, compliance checklists, or regulatory submissions that require evidence of authorisation under the Trustees Act. The “current version” status (as at 27 Mar 2026) indicates that the designation remains in force in the consolidated legislative record, subject to any later amendments or revocations that would be reflected in the legislation timeline.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 86 (the enabling provision for the Minister’s power to make authorisation orders)
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.