Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2002
- Act Code: TA1967-S190-2002
- Legislation Type: Subsidiary legislation (Order)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Enacting Formula: Made by the Minister for Law in exercise of powers under section 83
- Primary Subject Matter: Declaration of an “authorised unit trust scheme”
- Commencement Date: Not stated in the extract (Order made on 24 April 2002; published as SL 190/2002)
- Publication / Citation: SL 190/2002; dated 25 April 2002
- Status: Current version as at 27 Mar 2026
- Key Provisions (from extract): Section 1 (Citation); Section 2 (Authorised unit trust scheme)
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2002 is a short but legally significant instrument. In substance, it does one thing: it declares a particular collective investment vehicle—the Henderson Global Technology Fund—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In plain language, the Order is a gatekeeping mechanism. The Trustees Act contains a framework that regulates when and how trustees may deal with certain investments. By declaring a specific unit trust scheme to be “authorised”, the Minister for Law effectively confirms that the scheme meets the statutory criteria (or has been approved through the statutory process) to be treated as eligible for the purposes of the Trustees Act.
Although the Order itself is brief, its practical effect can be substantial for trustees, fund administrators, and investors. Once a scheme is authorised, trustees who are subject to the Trustees Act may be able to invest trust property in that scheme without falling foul of restrictions that apply to non-authorised schemes.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard legislative drafting and does not affect substantive rights or obligations.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that the Henderson Global Technology Fund is declared as an authorised unit trust scheme for the purposes of the Trustees Act. This declaration is the legal trigger that links the named fund to the statutory regime under the Trustees Act.
From a practitioner’s perspective, the key interpretive point is that the Order does not itself describe the conditions of authorisation (such as eligibility criteria, ongoing compliance requirements, or reporting obligations). Those matters are typically dealt with in the Trustees Act and any related subsidiary legislation or regulatory guidance. The Order functions as the formal designation of a specific scheme within that broader legal framework.
Enabling authority and ministerial power. The enacting formula indicates that the Minister for Law makes the Order under section 83 of the Trustees Act. This matters because it signals that the authorisation is not merely administrative; it is a statutory act grounded in delegated legislative power. Consequently, the validity and scope of the authorisation depend on compliance with the statutory power conferred by section 83, including any procedural or substantive requirements embedded in that section.
Practical legal effect. Once declared authorised, the Henderson Global Technology Fund is treated as an eligible unit trust scheme for the purposes of the Trustees Act. The precise consequences for trustees depend on how the Trustees Act uses the concept of “authorised unit trust scheme”. Typically, such provisions relate to permissible investments by trustees and may also affect how trustees discharge their duties when selecting investments. In practice, trustees and their counsel will look to the authorisation status to determine whether investment in the fund is within the scope of permitted trust investments.
How Is This Legislation Structured?
This Order is structured in a very minimal format, consistent with many “designation” orders. It contains:
(1) An enacting formula that identifies the Minister for Law and the statutory power under which the Order is made (section 83 of the Trustees Act).
(2) Section 1 setting out the citation.
(3) Section 2 making the substantive declaration that the Henderson Global Technology Fund is an authorised unit trust scheme.
There are no schedules, definitions, or detailed regulatory conditions in the extract. The Order is therefore best understood as a targeted legal designation rather than a comprehensive regulatory instrument.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and other persons whose powers or duties are governed by the Trustees Act. In particular, it affects decision-making by trustees who must consider whether a particular unit trust scheme is authorised for the purposes of the Act.
It also has indirect relevance to fund operators and investors. For the fund, authorisation under the Trustees Act can improve accessibility for trustees who are constrained by statutory investment rules. For investors, it may influence the availability of the fund as an investment option within trust structures.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in trust administration. Trustees often face strict constraints on investments, and the legal status of a unit trust scheme can determine whether a trustee’s investment decisions are compliant. By declaring the Henderson Global Technology Fund as authorised, the Order provides a clear statutory basis for trustees to consider investing trust property in that fund.
From an enforcement and risk-management standpoint, authorisation status reduces uncertainty. Without authorisation, trustees may need to rely on alternative mechanisms (for example, powers in the trust instrument, court approval, or other statutory pathways). Those alternatives can be time-consuming and costly. Authorisation therefore functions as a compliance shortcut that supports defensible investment decisions.
Finally, the Order illustrates how Singapore’s legal system uses subsidiary legislation to implement targeted designations. Practitioners should therefore treat such orders as part of a living compliance landscape: the “current version” status (as at 27 Mar 2026) indicates that the designation remains in force in the consolidated legislative record, but counsel should still verify whether any subsequent amendments, repeals, or replacement orders affect the scheme’s status.
Related Legislation
- Trustees Act (Cap. 337), in particular section 83 (power to make orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 7) Order 2002 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.