Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2003
- Act Code: TA1967-S284-2003
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Power: Section 83 of the Trustees Act
- Enactment Date: 6 June 2003
- Commencement Date: Not stated in the extract (typically effective upon making/notification, subject to the instrument’s terms)
- Current Status: Current version as at 27 Mar 2026
- Legislative Citation (SL Number): SL 284/2003
- Key Provisions: Section 1 (Citation); Section 2 (Declaration of an authorised unit trust scheme)
- Authorised Scheme Named: ING Singapore Dollar Bond Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2003 is a short piece of subsidiary legislation that performs a specific regulatory function: it designates a particular collective investment arrangement as an “authorised unit trust scheme” for the purposes of the Trustees Act. In practical terms, the Order identifies the ING Singapore Dollar Bond Fund as meeting the statutory criteria and receiving the legal status that the Trustees Act attaches to authorised unit trust schemes.
Although the instrument is brief, its legal effect can be significant. In Singapore’s regulatory framework, the “authorised” label is not merely descriptive; it is a gateway status that can affect how trustees may deal with unit trust investments, what compliance expectations apply, and how the scheme is treated under the Trustees Act’s protective regime. The Order is therefore best understood as a targeted authorisation mechanism rather than a comprehensive regulatory code.
The scope of the Order is narrow: it does not create a new regulatory scheme from scratch. Instead, it relies on the Trustees Act’s existing structure and uses the Minister’s power under section 83 to declare a named scheme to be authorised. This approach is common in Singapore subsidiary legislation: the main policy and legal architecture are contained in the parent Act, while individual schemes are authorised through separate orders.
What Are the Key Provisions?
Section 1 (Citation) provides the formal short title of the instrument: the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2003. This is a standard provision used for legal referencing and does not itself confer substantive rights or obligations.
Section 2 (Authorised unit trust scheme) is the operative provision. It declares that the ING Singapore Dollar Bond Fund is “hereby declared as an authorised unit trust scheme for the purposes of the Act.” This single sentence is the core legal action taken by the Minister for Law. By declaring the fund as authorised, the Order brings it within the statutory category that the Trustees Act recognises and regulates.
From a practitioner’s perspective, the key question is not only whether the fund is named, but what legal consequences flow from that designation. The extract indicates that the Minister acts “in exercise of the powers conferred by section 83 of the Trustees Act.” While the extract does not reproduce section 83, the structure strongly suggests that section 83 empowers the Minister to declare specific unit trust schemes to be authorised. Once declared, the scheme’s status is anchored to the Trustees Act’s provisions—particularly those dealing with trustees’ investment powers and eligibility of investments.
Enacting formula and making clause confirm the formal validity of the instrument. The Order states that it is made by the Minister for Law, and it includes the signature/identification of the Permanent Secretary, Ministry of Law (LIEW HENG SAN), along with the date “6th day of June 2003” and the reference “[LAW 20/003/139].” These elements matter for legal certainty: they evidence that the statutory power was exercised and that the instrument was properly made under the authorising Act.
How Is This Legislation Structured?
The Order is structured in a conventional, minimal format for authorisation instruments. It contains:
(1) An enacting formula stating the Minister’s power under section 83 of the Trustees Act.
(2) A short title provision (Section 1) for citation.
(3) A single substantive provision (Section 2) that declares the named unit trust scheme as authorised.
There are no additional parts, schedules, conditions, or detailed regulatory requirements in the extract provided. The instrument’s function is therefore declaratory and status-conferring rather than regulatory-by-detail.
Who Does This Legislation Apply To?
The immediate addressee of the Order is the legal status of the ING Singapore Dollar Bond Fund. However, the practical beneficiaries and affected parties are typically those who operate within the Trustees Act framework—most notably trustees and persons who advise or administer trusts that may hold or consider unit trust investments.
In general terms, once a scheme is declared an authorised unit trust scheme under the Trustees Act, trustees may be able to treat the scheme as an eligible investment within the statutory investment regime (subject to any additional conditions or limitations that the Trustees Act itself imposes). The Order does not replace the Trustees Act; rather, it supplies the “authorised” designation that triggers the Act’s investment-related consequences.
For fund managers and scheme operators, the Order also has reputational and compliance implications. Being declared authorised can be relevant to marketing, distribution, and institutional acceptance, because trustees often require assurance that investments fall within statutory categories. That said, the Order itself does not set out marketing rules or ongoing disclosure duties; those would be found in the parent Act and any other applicable financial services legislation and regulatory requirements.
Why Is This Legislation Important?
Even though the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2003 is brief, it can be important in several ways for legal practice.
First, it confers a legally recognised status on a specific investment product. In trust and estate administration, eligibility of investments is often a central issue. Trustees must act prudently and within the boundaries of their legal powers. An “authorised unit trust scheme” designation can simplify the trustee’s decision-making and reduce uncertainty about whether a particular fund falls within the statutory investment universe.
Second, it supports compliance and governance. When trustees document investment decisions, they often rely on statutory categories. A formal order provides an authoritative reference point. For practitioners drafting trust documentation, advising trustees, or reviewing investment policies, the existence of a specific authorisation order is a concrete legal anchor.
Third, it illustrates how Singapore’s legislative model works for investment authorisations. Rather than embedding authorisation details in a single comprehensive statute, Singapore uses the parent Act (the Trustees Act) and then issues targeted subsidiary orders for particular schemes. This means that legal research must often be done at two levels: (i) understand the parent Act’s framework, and (ii) confirm whether a particular scheme has been declared authorised (and whether the authorisation remains current).
Finally, because the instrument is shown as “current version as at 27 Mar 2026,” practitioners should treat it as still operative unless superseded or amended. In practice, this requires checking the legislation timeline and any subsequent orders that may revoke, replace, or update authorisations. The extract does not show amendments, but the platform’s “current version” status indicates that the instrument remains in force in the consolidated view.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the authorising provision referenced in the enacting formula)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 6) Order 2003 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.