Statute Details
- Title: Trustees (Authorised Unit Trust Scheme) (No. 9) Order 2001
- Act Code: TA1967-S230-2001
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Trustees Act (Cap. 337)
- Key Enabling Provision: Section 83 of the Trustees Act
- Enacting Formula: Minister for Law makes the Order in exercise of powers under section 83
- Citation: Trustees (Authorised Unit Trust Scheme) (No. 9) Order 2001
- Primary Substantive Provision: Declaration of an authorised unit trust scheme
- Declared Scheme: The Dynamic Tri-Sector Fund
- Made Date: 23 April 2001
- SL Number / Date: SL 230/2001 (dated 24 April 2001 in the legislation timeline)
- Status: Current version as at 27 Mar 2026
What Is This Legislation About?
The Trustees (Authorised Unit Trust Scheme) (No. 9) Order 2001 is a short but legally significant instrument. In plain terms, it is an official declaration by the Minister for Law that a particular investment product—the Dynamic Tri-Sector Fund—is an “authorised unit trust scheme” for the purposes of the Trustees Act.
Unit trust schemes are collective investment arrangements in which investors pool money and hold interests in a fund managed under a trust structure. The Trustees Act regulates trustees and certain aspects of unit trust schemes. However, not every scheme automatically falls within the regulatory category of an “authorised unit trust scheme”. This Order is one of the mechanisms by which the law recognises and brings a specific scheme within that authorised framework.
Accordingly, the practical effect of this Order is to confer the legal status of authorisation on the Dynamic Tri-Sector Fund. That status matters because it determines how the scheme is treated under the Trustees Act and any related regulatory requirements that attach to authorised schemes.
What Are the Key Provisions?
Section 1 (Citation) provides the formal name by which the Order may be cited. While this is standard drafting, it is important for legal referencing, compliance documentation, and regulatory correspondence. Practitioners typically cite the Order when discussing the authorisation status of the relevant scheme.
Section 2 (Authorised unit trust scheme) is the substantive provision. It states that “The Dynamic Tri-Sector Fund is hereby declared as an authorised unit trust scheme for the purpose of the Act.” This single sentence performs the core legal work: it designates the scheme as authorised under the Trustees Act.
From a practitioner’s perspective, the phrase “for the purpose of the Act” is crucial. It indicates that the authorisation is not merely descriptive; it is intended to trigger the legal consequences that the Trustees Act attaches to authorised unit trust schemes. Those consequences may include (depending on the broader statutory and regulatory framework) permissions, compliance obligations, governance requirements, and the legal standing of the scheme and its trustee(s).
Although the extract provided contains only two sections, the Order’s enabling context is equally important. The enacting formula states that the Minister for Law makes the Order in exercise of powers conferred by section 83 of the Trustees Act. This means that the authorisation is not discretionary in an informal sense; it is grounded in a specific statutory power. In legal analysis, this supports the validity of the declaration and provides a clear chain of authority for the scheme’s authorised status.
Finally, the Order includes a “Made” date (23 April 2001) and is reflected in the legislation timeline as SL 230/2001 (dated 24 April 2001). For compliance and due diligence, practitioners often need to confirm the date of authorisation and whether the scheme’s authorisation was in force at relevant times (for example, when assessing historical conduct, offering documents, or trustee responsibilities).
How Is This Legislation Structured?
This Order is structured in a very concise format typical of authorisation orders. It contains:
- Enacting Formula: Identifies the statutory power (section 83 of the Trustees Act) and the Minister for Law’s authority to make the Order.
- Section 1 (Citation): Provides the short title for referencing.
- Section 2 (Authorised unit trust scheme): Declares the specific scheme (Dynamic Tri-Sector Fund) to be an authorised unit trust scheme.
There are no additional parts, schedules, or detailed conditions in the extract. That does not necessarily mean there are no conditions in the wider regulatory framework; rather, it indicates that this particular instrument focuses on the formal declaration of authorisation, leaving other operational requirements to the Trustees Act and any applicable subsidiary regulations, guidelines, or licensing/approval processes.
Who Does This Legislation Apply To?
The Order applies directly to the Dynamic Tri-Sector Fund by declaring it an authorised unit trust scheme. In practical terms, the authorisation status affects the trustee and the scheme’s operators who manage and administer the fund under the trust structure contemplated by the Trustees Act.
More broadly, the authorisation designation is relevant to investors and market participants because it signals that the scheme is recognised within the statutory framework for authorised unit trust schemes. For legal practitioners, the key point is that authorisation status can influence how offering materials are drafted, how compliance is evidenced, and how statutory duties are interpreted.
Why Is This Legislation Important?
Even though the Order is brief, it is important because it is a gateway legal instrument. Authorised unit trust scheme status is not merely a label; it is a legal classification that typically determines what rules apply to the scheme and its trustee(s). For lawyers advising trustees, fund managers, distributors, or investors, confirming whether a scheme is authorised—and by which instrument—is often a foundational step in regulatory due diligence.
From an enforcement and risk perspective, authorisation status can affect liability analysis. If a scheme is not authorised, the legal consequences could include regulatory breaches, invalidity concerns, or exposure to enforcement action. Conversely, where the scheme is authorised by an order made under the Trustees Act, practitioners can more confidently assess compliance with the statutory framework governing unit trust schemes.
In addition, the Order’s continued “current version” status as at 27 March 2026 indicates that the declaration remains part of the operative legal landscape. For ongoing compliance, lawyers should ensure that the scheme’s authorisation remains valid and that there have been no subsequent amendments or replacement orders affecting the scheme’s status. The legislation timeline and versioning are therefore not merely administrative—they are essential tools for accurate legal advice.
Related Legislation
- Trustees Act (Cap. 337) — in particular, section 83 (the enabling provision for making authorisation orders)
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.