Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2001
- Act Code: TA1967-S224-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Enacting Formula: Minister for Law makes the Order in exercise of powers under section 83
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2001
- Commencement: Not stated in the extract (commencement typically follows the making/notification date unless otherwise provided)
- Date Made: 11 April 2001
- SL Number: SL 224/2001
- Status: Current version as at 27 March 2026
- Declared Scheme: “Schroder Fulfilment Fund”
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2001 is a Singapore subsidiary legislation instrument made under the Trustees Act (Cap. 337). In plain language, it is a formal legal “designation” order: it declares a specific unit trust scheme—“Schroder Fulfilment Fund”—to be an authorised unit trust scheme for the purposes of the Trustees Act.
Although the Order is short, its practical effect can be significant. Under the Trustees Act framework, certain investments and arrangements may be permitted, facilitated, or treated differently when they involve an “authorised” unit trust scheme. The Order therefore operates as a gatekeeping mechanism: it identifies which unit trust schemes qualify to be treated as authorised for the statutory purposes of trustees and trustee-related investment rules.
Because the extract contains only two operative provisions—citation and the declaration of the authorised scheme—the Order should be read together with the Trustees Act itself. The Order does not set out investment rules; rather, it supplies the “authorised scheme” status that triggers the relevant consequences in the parent 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: it helps lawyers, compliance teams, and regulators refer to the instrument consistently in documents, filings, and correspondence.
Section 2 (Authorised unit trust scheme) is the core operative provision. It states that “Schroder Fulfilment 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. In practice, once a scheme is declared authorised under section 83 of the Trustees Act, trustees who are subject to the Act may be able to treat investments in that scheme in accordance with the statutory regime applicable to authorised unit trust schemes.
From a practitioner’s perspective, the key interpretive point is that the Order’s effect is tied to the phrase “for the purpose of the Act.” That means the declaration is not merely descriptive; it is intended to operate within the specific statutory provisions of the Trustees Act that refer to authorised unit trust schemes. Therefore, the legal consequences are not contained in the Order itself; they arise by operation of the Trustees Act once the scheme is designated.
Enabling authority and ministerial power: The enacting formula indicates that the Minister for Law makes the Order in exercise of powers conferred by section 83 of the Trustees Act. This matters for legal validity and for any challenge or interpretive disputes. It confirms that the declaration is an exercise of statutory discretion under the Trustees Act, rather than a voluntary or contractual classification. If a practitioner is advising on compliance, governance, or the legal basis for trustee investment decisions, the enabling provision is the anchor for the Order’s authority.
Temporal and versioning considerations: The instrument is shown as “current version as at 27 March 2026,” with the timeline indicating the original making date as 19 April 2001 (SL 224/2001). Even though the extract does not show amendments, the “current version” status is relevant for due diligence. Lawyers should confirm whether the scheme name, scope, or any related conditions have been amended in later orders or consolidated versions. In this extract, the declaration appears straightforward and unqualified; however, in practice, scheme details can evolve, and practitioners should verify whether any subsequent legislation affects the scheme’s authorised status.
How Is This Legislation Structured?
The Order is structured as a very concise subsidiary instrument with an enacting formula and two substantive provisions:
(1) Enacting Formula — sets out the legal basis for the Minister’s action, referencing section 83 of the Trustees Act and stating that the Minister for Law makes the Order.
(2) Section 1 (Citation) — provides the short title for referencing the Order.
(3) Section 2 (Authorised unit trust scheme) — declares the specific unit trust scheme (Schroder Fulfilment Fund) to be authorised for the purposes of the Trustees Act.
There are no parts, schedules, or detailed conditions in the extract. This is typical for designation orders: they identify the qualifying scheme(s), leaving the substantive regulatory consequences to the parent Act.
Who Does This Legislation Apply To?
While the Order itself is addressed to the legal status of a unit trust scheme, its practical application is to trustees and trustee-related investment decision-makers who operate under the Trustees Act. The “authorised unit trust scheme” designation is relevant to how trustees may invest trust assets, how compliance is assessed, and how statutory requirements are satisfied.
In addition, the Order is relevant to fund managers, administrators, and compliance teams associated with the declared scheme. Although the Order does not regulate the scheme’s operations directly (in the extract), being declared “authorised” can affect how the scheme is used in trustee portfolios and how it is represented in legal and compliance documentation.
Importantly, the Order’s scope is not universal to all market participants in the abstract; rather, it is scoped by the Trustees Act’s references to authorised unit trust schemes. Therefore, the precise class of persons who benefit from or must comply with the designation depends on the relevant provisions of the Trustees Act.
Why Is This Legislation Important?
Designation orders like this one are important because they translate statutory policy into operational eligibility. The Trustees Act typically governs how trustees manage and invest trust property. By declaring specific unit trust schemes as authorised, the law provides a mechanism for trustees to invest in collective investment products that meet the statutory criteria and are recognised for trustee purposes.
For practitioners, the value of this Order lies in its legal certainty. When advising trustees—whether individuals acting as trustees, corporate trustees, or professional trustees—lawyers must ensure that investments fall within categories permitted or recognised by statute. An “authorised unit trust scheme” designation can be a critical compliance point in investment policies, trust deeds, and trustee resolutions.
From an enforcement and risk perspective, the absence of authorised status (or uncertainty about it) can create compliance exposure. If a trustee invests in a unit trust scheme that is not authorised (or whose authorised status is unclear), the trustee may face questions about breach of duty, statutory non-compliance, or the validity of investment decisions. Conversely, where a scheme is declared authorised by an order under the Trustees Act, trustees can better justify their investment choices by reference to the statutory framework.
Finally, the Order’s brevity should not be underestimated. Even a short designation instrument can have long-tail effects on trust administration. The scheme’s authorised status may influence how trust assets are allocated over time, how periodic reviews are conducted, and how trustees document compliance with statutory investment requirements.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 83 (the enabling provision for authorising unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.