Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 7) Order 1999
- Act Code: TA1967-S121-1999
- Legislation Type: Subsidiary Legislation (SL)
- Status: Current version (as at 27 Mar 2026)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 86 of the Trustees Act
- Enacting Date / Made Date: 20 March 1999
- SL Number: SL 121/1999
- Citation Provision: Section 1 (Citation)
- Substantive Provision: Section 2 (Authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 7) Order 1999 is a short piece of Singapore subsidiary legislation that performs a single, targeted function: it designates a specific collective investment vehicle—United Greater China Fund—as an “authorised unit trust scheme” for the purposes of the Trustees Act (Cap. 337.
In practical terms, this Order matters because the Trustees Act contains a regulatory framework that allows certain trustees (and related persons) to deal with unit trust schemes only where those schemes meet statutory criteria. By making a formal “authorisation” order, the Minister for Law effectively confirms that the named scheme is eligible to be treated as an authorised unit trust scheme under the Act.
Although the Order itself is brief, it sits within a broader legislative architecture. The authorising power in section 86 of the Trustees Act indicates that the authorisation mechanism is ministerial and scheme-specific. This means that the legal consequences are not generalised to “all unit trust schemes”, but instead attach to the particular scheme named in the Order.
What Are the Key Provisions?
Section 1 (Citation) provides the formal way to refer to the instrument. It states that the Order may be cited as the Trustees (Authorised Unit Trust Scheme) (No.7) Order 1999. While this is standard drafting, it is important for legal citation, compliance documentation, and for practitioners who need to reference the correct instrument when advising on scheme status.
Section 2 (Authorised unit trust scheme) is the substantive provision. It declares that United Greater China Fund is hereby “declared as an authorised unit trust scheme for the purposes of the Act.” This declaration is the legal trigger that brings the scheme within the scope of the authorisation regime under the Trustees Act.
From a practitioner’s perspective, the key legal effect of section 2 is that it allows the scheme to be treated as authorised under the Trustees Act. The precise downstream consequences depend on how the Trustees Act uses the concept of an “authorised unit trust scheme”. Typically, such authorisation provisions are relevant to trustee investment powers, eligibility of investments, and the regulatory acceptability of the scheme for trustees acting under statutory duties. Accordingly, the Order is often relied upon when trustees, trust companies, or professional advisers need to confirm whether a particular unit trust scheme is permissible for trustee investments or related trust administration purposes.
It is also notable that the Order is made “in exercise of the powers conferred by section 86 of the Trustees Act.” This indicates that the Minister’s authority is statutory and that the authorisation is not merely administrative. In legal terms, the Minister’s power is grounded in the Act, and the declaration is therefore a formal legal act with statutory consequences.
Finally, the Order includes the making clause and the signature of the Permanent Secretary, Ministry of Law, Singapore (GOH KIM LEONG), together with the date “20th day of March 1999.” These details are relevant for establishing the instrument’s validity and for historical versioning when advising on past transactions or when determining the scheme’s authorised status at a particular time.
How Is This Legislation Structured?
The Order is structured in a conventional, minimal format typical of designation orders. It contains:
(a) An enacting formula stating that the Minister for Law makes the Order under section 86 of the Trustees Act.
(b) Section 1 setting out the citation.
(c) Section 2 making the substantive declaration that United Greater China Fund is an authorised unit trust scheme for the purposes of the Trustees Act.
There are no schedules, definitions, conditions, or procedural requirements in the text extract provided. The instrument’s function is therefore purely declaratory: it identifies the scheme and confers the authorised status under the Act.
Who Does This Legislation Apply To?
This Order applies primarily to parties whose legal rights and duties are affected by whether a unit trust scheme is “authorised” under the Trustees Act. While the Order itself is directed at the scheme’s status, the practical beneficiaries are typically trustees and persons acting in a trustee capacity who must comply with statutory investment and administration rules.
In addition, the scheme itself—United Greater China Fund—is the subject of the authorisation. The declaration is relevant to the scheme’s ability to be treated as eligible for purposes that the Trustees Act attaches to authorised unit trust schemes. For advisers, compliance officers, and legal counsel, the Order is a key reference point when assessing whether a particular investment is permissible or whether a trustee’s actions fall within statutory parameters.
Why Is This Legislation Important?
Even though the Trustees (Authorised Unit Trust Scheme) (No. 7) Order 1999 is brief, it is legally significant because it determines the authorised status of a specific unit trust scheme. In trust and investment law, eligibility and compliance are often outcome-determinative: if an investment is not authorised (or not authorised at the relevant time), trustees may face questions about breach of duty, statutory non-compliance, or the need to regularise holdings.
For practitioners, the Order is therefore a critical piece of documentary evidence. When advising on trustee investment decisions, reviewing trust deeds, or preparing compliance memos, lawyers often need to confirm whether a scheme is authorised under the relevant statute. This Order provides a clear, scheme-specific answer for United Greater China Fund.
From an enforcement and risk perspective, authorisation orders help create a structured framework for regulatory oversight. The fact that the Minister acts under section 86 suggests that authorisation is not automatic; it is conferred through a formal legal process. This reduces ambiguity and supports legal certainty for trustees and their advisers.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 86 (power to declare authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 7) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.