Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001
- Act Code: TA1967-S226-2001
- Type: Subsidiary Legislation (SL)
- Enacting Formula / Authority: Made by the Minister for Law under section 83 of the Trustees Act (Cap. 337)
- Legislative Citation: SL 226/2001
- Date Made: 11 April 2001
- Commencement: Not stated in the extract (commonly tied to gazette/publication date; practitioners should confirm via the legislation timeline)
- Status: Current version as at 27 Mar 2026
- Key Provisions: Section 1 (Citation); Section 2 (Declaration of authorised unit trust scheme)
- Authorising Act: Trustees Act (Chapter 337)
- Related Legislation: Trustees Act (Cap. 337) and any related unit trust / trustee regulatory provisions under the Act
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 8) Order 2001 is a short piece of Singapore subsidiary legislation that performs a specific regulatory function: it designates a particular collective investment vehicle—Schroder Global Technology Fund—as an “authorised unit trust scheme” for the purposes of the Trustees Act.
In plain terms, the Order answers a practical legal question that trustees, custodians, and other fiduciaries often face: which unit trust schemes are permitted to be treated as authorised schemes under the Trustees Act framework? By declaring a scheme to be authorised, the Minister for Law enables that scheme to fall within the statutory category that trustees may rely on when making investments or administering trust property.
Although the Order itself contains only two operative provisions, its legal effect can be significant. Authorisation under the Trustees Act typically matters because trustees are subject to statutory constraints and duties when investing trust assets. The designation of an authorised unit trust scheme can therefore influence investment eligibility, compliance processes, and the risk profile of trustee decision-making.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. This is standard legislative drafting. For practitioners, the citation is important for accurate referencing in legal documents, compliance checklists, and correspondence with counterparties or regulators.
Section 2 (Authorised unit trust scheme) is the core provision. It states that Schroder Global Technology Fund is declared to be an authorised unit trust scheme for the purpose of the Trustees Act.
From a legal perspective, this declaration is not merely descriptive. It is a jurisdictional and eligibility trigger: it determines that the scheme is within the class of unit trust schemes that trustees may treat as authorised under the Act. In practice, this can affect whether a trustee’s investment in the fund is consistent with statutory investment permissions or requirements.
Enacting authority and ministerial power. The Order is made “in exercise of the powers conferred by section 83 of the Trustees Act.” This matters because it signals that the Minister’s designation is grounded in a specific statutory discretion. Practitioners should therefore read the Order together with section 83 of the Trustees Act to understand the criteria, process, and legal consequences of authorisation. While the extract does not reproduce section 83, the presence of this enabling provision indicates that authorisation is a formal legal act, not an administrative label.
Made date and formalities. The Order records that it was made on 11 April 2001 by the Permanent Secretary, Ministry of Law (Liew Heng San). The date of making and the gazette/publication timeline can be relevant for determining when the authorisation took effect, particularly for transactions or trustee decisions made around the time of enactment. Practitioners should confirm the effective date using the legislation timeline in the platform.
How Is This Legislation Structured?
This Order is structured as a very concise subsidiary instrument with:
(1) An enacting formula identifying the Minister for Law and the statutory power under section 83 of the Trustees Act; and
(2) Two operative sections:
- Section 1: Citation.
- Section 2: Declaration of the authorised unit trust scheme (Schroder Global Technology Fund).
There are no schedules, definitions, or detailed regulatory conditions in the extract. The legal “work” is done by the declaration itself. As a result, the Order should be treated as a designation instrument that must be read alongside the substantive provisions of the Trustees Act governing trustees’ investment powers and duties.
Who Does This Legislation Apply To?
The Order applies primarily to trustees and persons acting in a fiduciary capacity who are subject to the Trustees Act. While the Order does not expressly list categories of persons, the phrase “for the purpose of the Act” indicates that its effect is felt within the statutory regime applicable to trustees.
In practical terms, the Order is relevant to:
- Trustees managing trust property and making investment decisions;
- Trust administrators and compliance teams assessing whether a unit trust investment is eligible under statutory requirements;
- Custodians and fund administrators supporting trustee investments and documentation; and
- Legal advisers drafting trust deeds, investment policies, or trustee resolutions that reference authorised schemes.
It also indirectly affects the fund manager and the scheme (Schroder Global Technology Fund) because authorisation under the Trustees Act can make the scheme more accessible or more readily usable by trustees who must comply with statutory investment rules.
Why Is This Legislation Important?
Although the Order is brief, it can be highly consequential for trustee compliance. Trustees operate under duties of prudence, proper purpose, and compliance with statutory constraints. Where the Trustees Act provides a mechanism for authorising unit trust schemes, a trustee’s ability to invest in a particular fund may depend on whether the scheme has been formally declared authorised.
From a risk management standpoint, the Order provides a clear legal basis for trustees to treat the Schroder Global Technology Fund as an authorised unit trust scheme. This reduces ambiguity and helps trustees demonstrate that their investment choices align with statutory permissions. In disputes or audits, the existence of a specific authorisation order can be a key piece of evidence that the trustee acted within the permitted framework.
For practitioners, the Order also illustrates an important drafting and compliance point: authorisation is scheme-specific. A trustee cannot assume that all unit trust schemes are authorised; instead, trustees must check whether the particular scheme is named in the relevant authorisation orders. The “(No. 8)” numbering further suggests that multiple authorised schemes may be designated through different orders, each corresponding to particular funds.
Finally, the Order’s status as “current version as at 27 Mar 2026” indicates that the designation remains in force (unless later amended or revoked). Practitioners should still verify whether any subsequent amendments, revocations, or replacement orders exist, particularly if the fund’s structure, name, or legal status has changed over time.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 83 (the enabling provision under which the Minister makes authorisation orders)
- Other “Trustees (Authorised Unit Trust Scheme) … Orders” — for authorisations of other unit trust schemes under the same statutory mechanism
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.