Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2000
- Act Code: TA1967-S283-2000
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Power: Powers conferred by section 83 of the Trustees Act
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2000
- Legislation Number: SL 283/2000
- Date Made: 16 June 2000
- Commencement Date: Not stated in the provided extract (practitioners should confirm in the full text/legislation database)
- Status: Current version as at 27 March 2026
- Key Provisions (from extract): Sections 1 and 2
- Authorised Scheme (from extract): United Asia Top-50 Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2000 is a short piece of Singapore subsidiary legislation made under the Trustees Act. Its practical purpose is to formally “declare” a specific collective investment product—namely, United Asia Top-50 Fund—as an authorised unit trust scheme for the purposes of the Trustees Act.
In plain terms, the Order does not create a new regulatory framework from scratch. Instead, it operates as a designation instrument: it identifies a particular unit trust scheme and confirms that it meets the statutory pathway for authorisation under section 83 of the Trustees Act. Once authorised, the scheme can benefit from the legal consequences attached to being an “authorised unit trust scheme” in the Trustees Act.
Because the extract provided contains only the enacting formula and two operative provisions, the Order’s scope is narrow. It is essentially a legal “label” that triggers the statutory regime applicable to authorised unit trust schemes—typically affecting how the scheme is administered, marketed, and supervised within the broader trust and collective investment landscape.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard drafting: it ensures that practitioners and regulators can refer to the instrument unambiguously in legal documents, compliance materials, and correspondence.
Section 2 (Authorised unit trust scheme) is the substantive provision. It states that United Asia Top-50 Fund is hereby declared as an authorised unit trust scheme for the purpose of the Trustees Act. This declaration is the legal act that brings the scheme within the statutory category of “authorised unit trust scheme”.
From a practitioner’s perspective, the key legal effect is that the scheme’s status is not merely a matter of commercial description or internal documentation; it is a statutory designation made by the Minister for Law under delegated powers. This matters in disputes, regulatory reviews, and compliance assessments, because the scheme’s authorisation status can be determinative of whether certain conduct is lawful or whether statutory requirements apply.
Although the extract does not reproduce the Trustees Act provisions themselves, the Order’s reliance on section 83 signals that the authorisation is part of a broader legislative scheme. Typically, such provisions govern the conditions under which unit trust schemes may be authorised and the consequences of authorisation. Accordingly, lawyers should treat this Order as one component in a chain: the Trustees Act sets the framework; section 83 provides the mechanism for authorisation; and this Order identifies the specific scheme that has been authorised.
How Is This Legislation Structured?
The Order is extremely concise and is structured around a minimal set of provisions:
(1) Enacting formula: It records the legal basis for the Minister’s action—powers under section 83 of the Trustees Act—and confirms that the Minister for Law makes the Order.
(2) Section 1 (Citation): It provides the short title for reference.
(3) Section 2 (Authorised unit trust scheme): It contains the operative declaration identifying the authorised scheme.
There are no schedules, definitions, or detailed conditions in the provided extract. In practice, the detailed regulatory requirements are likely found in the Trustees Act and any related subsidiary legislation, guidelines, or licensing/approval regimes that apply to unit trust schemes and their trustees/managers.
Who Does This Legislation Apply To?
This Order applies primarily to the unit trust scheme identified in section 2—United Asia Top-50 Fund—and, by extension, to the legal persons responsible for the scheme’s operation (for example, the trustee and/or scheme manager, depending on how the Trustees Act allocates roles and responsibilities).
It also matters to investors and market participants indirectly. Authorisation status can affect how the scheme is offered, what disclosures or approvals are required, and what regulatory permissions underpin the scheme’s operation. For lawyers advising investors, distributors, or counterparties, the existence of an authorisation order is often a foundational fact to confirm before relying on the scheme’s legal standing.
Why Is This Legislation Important?
Even though the Order is short, it is legally significant because it confers or confirms a statutory status. In financial services and trust-related regulation, status designations often have downstream consequences: they can determine which statutory provisions apply, what compliance obligations attach, and what legal protections or permissions are available.
For practitioners, this Order is useful in several common scenarios:
- Due diligence and onboarding: confirming that a unit trust scheme is authorised under the Trustees Act, which can be essential for counterparties, auditors, and compliance teams.
- Regulatory compliance: verifying that marketing, distribution, and administration align with the legal category of the scheme.
- Dispute resolution: establishing the scheme’s legal standing at relevant times, particularly where authorisation status is contested.
- Corporate and operational changes: assessing whether authorisation remains applicable if the scheme’s structure, name, or management changes (subject to the relevant legal framework).
Finally, the Order’s “current version” status as at 27 March 2026 indicates that the instrument remains in force in the legislation database. Practitioners should still confirm whether there have been amendments, repeals, or superseding authorisation orders affecting the scheme, but the designation itself remains a relevant legal reference point.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the authorising provision referenced in the Order)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2000 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.