Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001
- Act Code: TA1967-S226-2001
- Legislation Type: Subsidiary legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Enacting Provision: Powers under section 83 of the Trustees Act
- Order Citation: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001
- Key Provisions: Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
- Declared Scheme: Schroder Global Technology Fund
- Date Made: 11 April 2001
- Publication/SL Number: SL 226/2001
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001 is a short piece of subsidiary legislation made under the Trustees Act. In practical terms, it performs a single regulatory function: it formally declares a specific collective investment vehicle—Schroder Global Technology Fund—to be an “authorised unit trust scheme” for the purposes of the Trustees Act.
In Singapore’s legal framework, the Trustees Act regulates the appointment and conduct of trustees and related trust arrangements. Certain activities or eligibility requirements in the Trustees Act depend on whether a unit trust scheme has been “authorised”. This Order is therefore not a general regulatory code for unit trusts; rather, it is an authorisation instrument that enables the named scheme to fall within the statutory category of authorised unit trust schemes.
Because the Order is made under section 83 of the Trustees Act, its scope is limited to the declaration of the authorised scheme. It does not, on its face, set out ongoing operational rules for the fund (such as investment restrictions, disclosure regimes, or governance requirements). Those matters typically arise under other financial services and trust-related regulatory regimes. Instead, this Order addresses the threshold legal status that the Trustees Act requires for trustees and related parties to treat the scheme as authorised.
What Are the Key Provisions?
Section 1 (Citation) provides the short title of the Order: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001. While this is standard drafting, it is important for practitioners because it determines how the instrument is referenced in legal documents, compliance checklists, and regulatory correspondence.
Section 2 (Authorised unit trust scheme) is the operative provision. It states that Schroder Global Technology Fund is hereby declared as an authorised unit trust scheme for the purposes of the Trustees Act. This declaration is the legal mechanism that brings the named scheme within the statutory framework that depends on authorisation.
Although the extract provided contains only two sections, the legal effect of section 2 is significant. Once a scheme is declared authorised, trustees and other persons who rely on the Trustees Act’s provisions may be able to treat the scheme as eligible for the relevant trustee-related purposes contemplated by the Act. In practice, this can affect how trustees structure investments, how they document investment decisions, and how they ensure compliance with statutory requirements governing trust investments.
Enacting formula and commencement context: The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act”. This indicates that the Minister for Law is acting within a specific statutory delegation. The Order also records that it was made on 11 April 2001 and published as SL 226/2001. For practitioners, the date the Order was made and the publication reference are relevant when assessing whether the authorisation was in force at a particular time (for example, for historical transactions, trustee investment policies adopted in reliance on authorisation, or disputes about compliance at a given date).
Finally, the Order’s status is shown as “current version as at 27 March 2026”. This suggests that the authorisation declaration remains part of the current legal landscape (subject to any later amendments, revocations, or superseding instruments that may exist outside the extract). Practitioners should still verify whether there have been subsequent amendments or replacement orders affecting the scheme’s authorised status.
How Is This Legislation Structured?
This Order is structured in a very streamlined way, reflecting its narrow purpose. It contains:
(a) An enacting formula that identifies the statutory power under section 83 of the Trustees Act and confirms the Minister for Law’s authority to make the Order.
(b) Section 1 (Citation) which provides the short title.
(c) Section 2 (Authorised unit trust scheme) which performs the substantive legal declaration.
There are no schedules, definitions, or detailed conditions in the extract. The instrument therefore functions as a declaratory authorisation rather than a comprehensive regulatory instrument. For legal research and compliance purposes, the key is to identify the declared scheme and confirm the continuing validity of the authorisation.
Who Does This Legislation Apply To?
The Order itself is directed at the legal status of a particular unit trust scheme—Schroder Global Technology Fund. However, the practical beneficiaries and affected parties are those who operate within the Trustees Act framework and rely on the concept of an “authorised unit trust scheme”. This typically includes trustees, trustee companies, and other persons acting in a trustee capacity who must comply with statutory requirements when investing trust assets.
In addition, the Order may be relevant to fund managers and distributors insofar as authorisation under the Trustees Act can influence whether the fund is suitable for trustee investment mandates. While the Order does not impose operational obligations on the fund in the text provided, authorisation can affect market access and the fund’s attractiveness to institutional investors who must meet statutory investment criteria.
Because the Order is made under the Trustees Act, its legal relevance is strongest where the Trustees Act’s provisions expressly refer to authorised unit trust schemes. Practitioners should therefore read the Trustees Act alongside this Order to understand exactly how authorisation is used—for example, whether it affects eligibility, permissible investments, or compliance duties.
Why Is This Legislation Important?
Even though the Order is brief, it can be highly consequential in trustee compliance. Trustees often face strict duties regarding the suitability and legality of trust investments. Where the Trustees Act uses the concept of “authorised unit trust schemes”, a declaration like this one can determine whether a trustee’s investment in a particular fund is compliant with statutory requirements.
From a risk-management perspective, the Order provides a clear legal basis for trustees to document investment decisions. A practitioner advising a trustee would typically check whether the relevant unit trust scheme is authorised under the Trustees Act and cite the relevant order in the trustee’s investment records. This can be important in audits, internal governance reviews, and in the event of disputes about whether a trustee acted within its powers.
For fund-related stakeholders, authorisation can also have practical commercial implications. Trustees and trustee-adjacent institutions may have investment mandates that restrict them to authorised schemes. Therefore, being declared authorised can expand the investor base and support the fund’s inclusion in trustee portfolios.
Finally, the Order’s “current version” status as at 27 March 2026 underscores the need for practitioners to ensure they are relying on the correct version of the instrument. The legal effect of authorisation can change over time through amendments, revocations, or replacement orders. Accordingly, lawyers should confirm the latest status using the legislation timeline and any amendment annotations, particularly when dealing with transactions spanning multiple years.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision for making orders declaring authorised unit trust schemes)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.