Company Resolution
R68.20
A Resolution is used where a legal entity needs a written resolution signed by its directors or company officials before it can conclude a transaction, agreement, or conduct a particular activity.
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Description
COMPANY RESOLUTION
Summary A Resolution may be used where the trustees / directors / members / partners of a legal entity such as a trust, company, partnership or close corporation need to pass a resolution before the organisation can conclude a transaction, agreement, or conduct a particular activity.
Why do I need a Resolution? Before a legal entity is permitted to enter into a transaction or legal agreement, or conduct particular activities, the consent or authorisation of the trustees / directors / members / partners is generally required. A resolution serves to record the consent or authorisation.
What type of business should use a Resolution? If your business is a legal entity with more than one trustee / director / member / partner, then a Resolution is required to approve transactions, agreements, or conduct particular activities, and to identify the person who is authorised to sign on the company’s behalf.
What does the Resolution say? The Resolution consists of: the details of the transaction, agreement, or activity; and the details of the person authorised to enter into the transaction, agreement, or activity on the legal entity’s behalf
What does the Company Resolution look like? The template resolution can be printed onto one page.
What do you need to do to use this document?
- Read the template Company Resolution to ensure that it suits your requirements. Make changes as required.
- Complete the relevant details, and get the trustees / directors / members / partners to sign.
Also viewed: Shareholders Agreements; Members Agreements; Partnership Agreement
Also known as: Authorisation; Resolution; Company Authorisation
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