Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 9) Order 1999
- Act Code: TA1967-S123-1999
- Type: Subsidiary Legislation (SL)
- Status: Current version (as at 27 Mar 2026)
- Enacting Formula / Power: Made “in exercise of the powers conferred by section 86 of the Trustees Act”
- Authorising Act: Trustees Act (Cap. 337)
- Key Provisions (from extract): Sections 1 (Citation) and 2 (Authorised unit trust scheme)
- Order Date / Making: 20 March 1999
- Commencement Date: Not stated in the provided extract (practitioners should verify in the official publication)
- Legislative Identifier: SL 123/1999 (dated 25 Mar 1999 in the timeline)
- Declared Scheme: United Foreign Equity Fund
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 9) Order 1999 is a short piece of subsidiary legislation that performs a specific regulatory function: it designates a particular unit trust scheme as an “authorised unit trust scheme” for the purposes of the Trustees Act. In practical terms, the Order is a legal gateway that allows the named fund—United Foreign Equity Fund—to be treated as authorised under the statutory framework governing unit trusts and related trustee arrangements.
Although the Order itself is brief, its legal significance is substantial. In Singapore’s regulatory architecture, the authorisation of a unit trust scheme is not merely a label; it affects how the scheme is permitted to operate and how it is regulated under the Trustees Act. The authorising mechanism is implemented through ministerial orders made under a specific enabling provision (here, section 86 of the Trustees Act). This means the Order is best understood as part of a broader statutory system rather than a standalone regulatory regime.
For practitioners, the key takeaway is that this Order identifies a particular scheme that has been formally recognised by the Minister for Law as authorised. That recognition can be relevant to compliance, licensing/registration status, investor communications, and the legal treatment of the scheme’s trustee and fund operations under the Trustees Act.
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 the instrument can be referenced accurately in legal documents, regulatory filings, and correspondence. While it does not create substantive rights or obligations, citation provisions are important for legal certainty and for avoiding ambiguity when multiple orders exist.
Section 2 (Authorised unit trust scheme) is the substantive provision in the extract. It states that United Foreign Equity Fund is “hereby declared as an authorised unit trust scheme for the purposes of the Act.” This single declaratory sentence is the core legal act performed by the Order. It triggers the scheme’s status as authorised under the Trustees Act framework.
From a compliance perspective, the declaration in section 2 typically matters because the Trustees Act uses the concept of an “authorised unit trust scheme” to determine when certain statutory permissions, regulatory requirements, or investor-facing consequences apply. Even where the Trustees Act contains detailed operational rules, the authorisation step is often the threshold that determines whether those rules apply in the intended manner to a particular scheme.
Enacting formula and making authority also provide essential context. The Order is made by the Minister for Law, exercising powers under section 86 of the Trustees Act. This indicates that the authorisation is an administrative act grounded in statutory authority. Practitioners should therefore consider whether the authorisation process under section 86 includes conditions, consultation, or satisfaction of criteria (even though those details are not contained in the Order text itself). The existence of a specific enabling provision suggests that authorisation is not discretionary in an arbitrary sense; it is tied to the statutory scheme and the Minister’s lawful powers.
Finally, the Order includes the making date (“Made this 20th day of March 1999”) and the signatory (“GOH KIM LEONG, Permanent Secretary, Ministry of Law, Singapore”). While these are formalities, they can be relevant when assessing the validity of the instrument, determining the timeline of authorisation, or resolving disputes about whether a scheme was authorised at a particular time.
How Is This Legislation Structured?
This Order is structured in a conventional, minimal format typical of designation instruments. It contains:
(1) Enacting formula — sets out the statutory power under which the Minister makes the Order (section 86 of the Trustees Act).
(2) Citation provision — section 1, which provides the short title.
(3) Substantive designation provision — section 2, which declares the named unit trust scheme (United Foreign Equity Fund) as an authorised unit trust scheme for the purposes of the Trustees Act.
There are no schedules or detailed operational rules in the extract provided. The Order functions as a targeted legal instrument that identifies a scheme and confers the authorised status that other parts of the Trustees Act and related regulatory materials then govern.
Who Does This Legislation Apply To?
The Order applies primarily to the unit trust scheme named in the instrument—United Foreign Equity Fund—and, by extension, to the parties responsible for the scheme’s operation under the Trustees Act framework. In practice, this typically includes the trustee and the scheme’s management/administration arrangements that must align with the legal consequences of being an authorised unit trust scheme.
It also has implications for investors and market participants in the sense that the scheme’s authorised status affects how it is treated under the statutory regime. For example, investor communications and distribution practices may need to reflect the scheme’s authorised standing, and counterparties may rely on that status when assessing regulatory compliance and legal risk.
More broadly, the Order is addressed to the regulatory system rather than to the public at large: it is an administrative designation that becomes relevant when the Trustees Act’s provisions refer to authorised unit trust schemes.
Why Is This Legislation Important?
Even though the Trustees (Authorised Unit Trust Scheme) (No. 9) Order 1999 is brief, it is important because it performs a threshold authorisation function. In regulated financial services, the difference between an authorised and non-authorised scheme can be decisive for legality, compliance, and enforceability. By declaring United Foreign Equity Fund as authorised, the Order enables the scheme to operate within the legal framework contemplated by the Trustees Act.
For lawyers, the Order is useful in several practical contexts:
- Due diligence and status verification: confirming whether a particular unit trust scheme has been formally authorised under the Trustees Act.
- Contracting and risk assessment: determining whether counterparties can rely on the scheme’s authorised status when assessing regulatory compliance and statutory protections.
- Regulatory and compliance work: ensuring that the trustee and scheme documentation align with the legal consequences of authorisation.
- Dispute resolution: establishing the legal status of the scheme at relevant dates (particularly where authorisation timing is contested).
From an enforcement perspective, the authorisation status is typically linked to the regulatory oversight and statutory obligations imposed on authorised schemes and their trustees. While this specific Order does not set out enforcement mechanisms, it is part of the legal foundation that regulators and courts would use to determine whether the scheme falls within the authorised category and therefore within the relevant statutory regime.
Finally, the “current version as at 27 Mar 2026” status indicates that the instrument remains in force in the consolidated legal database. Practitioners should still verify whether there have been amendments, revocations, or replacement orders affecting the scheme’s status since 1999, but the provided metadata suggests that the designation remains effective in the current compilation.
Related Legislation
- Trustees Act (Chapter 337) — in particular, section 86 (the enabling provision for making authorisation orders)
Source Documents
This article provides an overview of the Trustees (Authorised Unit Trust Scheme) (No. 9) Order 1999 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.