Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 9) Order 2001
- Act Code: TA1967-S230-2001
- Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Enacting Authority: Minister for Law
- Enacting Formula Basis: Powers under section 83 of the Trustees Act
- Key Provisions: Section 1 (Citation); Section 2 (Authorised unit trust scheme)
- Legislative Instrument Number: SL 230/2001
- Date Made: 23 April 2001
- Date of Gazette/Instrument Reference: 24 April 2001
- Status: Current version as at 27 March 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 9) Order 2001 is a short piece of Singapore subsidiary legislation that performs a single, practical function: it designates a specific unit trust fund as an “authorised unit trust scheme” for the purposes of the Trustees Act (Cap. 337). In plain terms, it tells trustees and other regulated persons that the named fund meets the legal criteria required to be treated as an authorised scheme under the Act.
Unit trusts are collective investment schemes. The Trustees Act governs, among other things, what trustees may invest in and how certain investments are treated for trust purposes. The “authorised unit trust scheme” designation is therefore relevant to trustees who must consider investment eligibility, compliance with statutory requirements, and the legal status of particular funds when forming or administering trusts.
Although the Order is brief, its effect can be significant in practice. Once a fund is declared “authorised” under the Trustees Act framework, trustees may be able to treat investments in that fund as falling within the statutory category of permitted or recognised investments—subject to the broader requirements of the Trustees Act and any other applicable regulatory regimes.
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 is mainly relevant for legal referencing, pleadings, and compliance documentation.
Section 2 (Authorised unit trust scheme) is the operative provision. It declares that the Dynamic Tri-Sector Fund is hereby “declared as an authorised unit trust scheme for the purpose of the Act.” This means that, for the purposes of the Trustees Act, the Dynamic Tri-Sector Fund is treated as an authorised scheme.
Importantly, the Order does not itself describe investment rules, trustee duties, or eligibility criteria. Instead, it functions as a designation instrument: it identifies the specific fund that has been approved or determined to qualify for the statutory category. The substantive legal consequences flow from the Trustees Act—particularly from how that Act uses the concept of “authorised unit trust scheme” to regulate trustee investments and related matters.
Finally, the Order includes the making clause and signature of the Permanent Secretary, Ministry of Law, indicating that the Minister for Law exercised the statutory power conferred by section 83 of the Trustees Act. This matters for practitioners because it confirms the legal basis for the designation and supports the validity of the instrument.
How Is This Legislation Structured?
This Order is structured in a very simple format, reflecting its narrow scope. It contains:
(1) An enacting formula stating that the Minister for Law makes the Order under the powers in section 83 of the Trustees Act.
(2) Section 1 setting out the citation.
(3) Section 2 declaring the Dynamic Tri-Sector Fund as an authorised unit trust scheme.
There are no additional Parts, schedules, definitions, or procedural requirements in the extract provided. In practice, the legal “work” of the Order is done by the Trustees Act itself; this Order merely identifies the specific fund that falls within the Act’s authorised category.
Who Does This Legislation Apply To?
The Order applies to persons whose legal obligations or investment decisions depend on whether a unit trust scheme is “authorised” under the Trustees Act. The most direct beneficiaries are trustees (and those advising trustees) who must determine what investments are permissible or recognised under the statutory trust investment framework.
While the Order is addressed to the legal category of “authorised unit trust schemes,” its practical impact extends to trust administrators, legal advisers, compliance officers, and fund managers involved in trust investments. For fund managers, being declared an authorised unit trust scheme can improve the fund’s attractiveness to trustees and may facilitate inclusion in trust portfolios where statutory eligibility matters.
Why Is This Legislation Important?
Even though the Order is short, it can be highly consequential for trust administration. Trustees often operate under statutory constraints and must ensure that investments align with legal requirements. A designation under the Trustees Act can therefore affect whether a trustee can lawfully hold units in a particular fund, and how trustees document their investment decisions.
From an enforcement and risk perspective, the designation reduces uncertainty. Without an authorisation instrument, trustees may face questions about whether a particular unit trust scheme qualifies under the Trustees Act framework. With the Order in place, trustees can rely on the statutory status of the Dynamic Tri-Sector Fund as an authorised unit trust scheme, subject always to the broader legal duties governing trustees (including duties of care, diversification considerations, and any other statutory or regulatory requirements that apply to trustee investments).
Practitioners should also note the importance of version control. The instrument is shown as “current version as at 27 March 2026,” but the designation may still be subject to future amendments, revocations, or replacement orders. For legal work involving trustee investments, it is best practice to verify the current status and whether any subsequent orders have changed the authorised list or the relevant fund’s status.
Related Legislation
- Trustees Act (Cap. 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. 9) Order 2001 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.