Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 1999
- Act Code: TA1967-S122-1999
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Chapter 337)
- Key Enabling Provision: Section 86 of the Trustees Act
- Enacting Formula: Minister for Law makes the Order in exercise of powers under section 86
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 1999
- Declared Scheme: United Japan Growth Fund
- Order Date / Made Date: 20 March 1999
- Publication / SL Number: SL 122/1999 (dated 25 March 1999)
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 8) Order 1999 is a short piece of Singapore subsidiary legislation that performs a specific regulatory function: it designates a particular collective investment arrangement—namely, United Japan Growth Fund—as an “authorised unit trust scheme” for the purposes of the Trustees Act (Chapter 337).
In practical terms, this Order is not a comprehensive regulatory code for unit trusts. Instead, it is a designation instrument made under an enabling provision in the Trustees Act. The Trustees Act uses the concept of “authorised unit trust scheme” to determine when certain statutory permissions, protections, or eligibility requirements apply to trustees and related parties. By declaring a named scheme to be authorised, the Minister for Law effectively brings that scheme within the statutory framework that the Trustees Act contemplates.
Because the Order is a designation, its legal impact is concentrated: it answers the threshold question of whether the named fund qualifies as an authorised unit trust scheme under the Trustees Act. For practitioners, the key is to connect this designation to the downstream consequences in the Trustees Act—such as how trustees may deal with trust property, how investments may be treated, and what statutory permissions or limitations become available once a scheme is authorised.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the instrument may be cited. While this is standard drafting, it matters for legal referencing, compliance documentation, and for ensuring that the correct instrument is relied upon in filings, legal opinions, and regulatory submissions.
Section 2 (Authorised unit trust scheme) is the substantive provision. It states that United Japan Growth Fund is hereby declared as an authorised unit trust scheme for the purposes of the Trustees Act. This is the operative act: the Minister’s declaration transforms the status of the named scheme in the legal system.
Several practitioner-focused points follow from the structure of this Order:
- It is scheme-specific. The Order does not create a general category of authorised schemes. It authorises a named fund.
- It is “for the purposes of the Act”. The declaration is not merely descriptive; it is tied to the statutory consequences in the Trustees Act. The scope of those consequences is determined by the Trustees Act’s provisions that use the term “authorised unit trust scheme”.
- It is made under section 86. The enabling power signals that the Minister has discretion to designate schemes meeting criteria contemplated by the Trustees Act. The Order itself does not list those criteria, so practitioners typically must consult the Trustees Act and any related subsidiary instruments or guidance to understand the approval pathway.
Enacting formula and making date. The Order states that it is made by the Minister for Law, and it records the making date (20 March 1999). The publication date (reflected in the SL number) is relevant for determining the timeline of when the authorisation took effect, particularly for historical transactions, trustee decisions, or disputes about whether a scheme was authorised at a relevant time.
Absence of additional conditions in the text. Notably, the extract provided shows only two sections. There are no express conditions, expiry dates, or ongoing obligations stated within the Order itself. That does not necessarily mean there are no conditions in the broader legal framework; rather, it indicates that any continuing requirements would likely be found in the Trustees Act (and possibly in other regulatory regimes governing unit trust schemes). Practitioners should therefore avoid assuming that the designation is unconditional in perpetuity without checking the Trustees Act’s provisions on authorisation, variation, revocation, or compliance.
How Is This Legislation Structured?
This Order is structured in a minimal, designation-focused format typical of certain Singapore subsidiary legislation instruments:
- Section 1 (Citation): identifies the short title for referencing.
- Section 2 (Authorised unit trust scheme): contains the operative declaration naming the authorised scheme.
There are no “Parts” or complex schedules in the extract, and no additional provisions are shown. The legal architecture therefore relies heavily on the Trustees Act for the substantive regulatory framework. In other words, this Order functions as a triggering instrument that activates the Trustees Act’s relevant provisions for the named fund.
Who Does This Legislation Apply To?
The Order applies to the extent that it designates United Japan Growth Fund as an authorised unit trust scheme under the Trustees Act. While the Order itself is directed at the scheme’s status, the practical beneficiaries and affected parties are typically those who interact with the scheme in a trustee context—such as trustees, trust administrators, and persons advising trustees on investment or trust property management.
More broadly, the designation matters to any party whose legal rights or duties depend on whether a unit trust scheme is “authorised” under the Trustees Act. For example, if the Trustees Act permits or regulates certain trustee investments by reference to authorised unit trust schemes, then the authorisation directly affects the trustee’s ability to hold, acquire, or treat interests in the designated fund in accordance with the Act.
Why Is This Legislation Important?
Although the Order is brief, it can be highly significant in legal practice because it addresses a threshold status question. In trustee and trust-related matters, classification and eligibility are often decisive. If a scheme is authorised under the Trustees Act, trustees may be able to rely on statutory permissions or satisfy statutory requirements that would otherwise not apply.
From an enforcement and compliance perspective, the designation also affects how trustees document their investment decisions. Legal counsel advising trustees will often need to confirm whether a particular fund is authorised at the relevant time. This Order provides an official basis for that confirmation for United Japan Growth Fund. In disputes—such as claims of improper investment, breach of trust, or challenges to trustee decisions—evidence of authorisation can be critical.
Finally, the Order’s “current version” status as at 27 March 2026 indicates that the instrument remains in force in the legislation database. For practitioners dealing with historical and ongoing matters, this helps establish that the designation is not merely archival. However, counsel should still verify whether there have been amendments, revocations, or superseding instruments affecting the scheme’s status, and should cross-check the Trustees Act’s provisions on how authorisations are maintained or withdrawn.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 86 (the enabling provision for making this Order) and the provisions that attach legal consequences to an “authorised unit trust scheme”.
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 8) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.