Board Resolution Authorized Signatory for Australia

Board Resolution Authorized Signatory Template for Australia

This is a formal board resolution document used in Australian corporate governance to appoint and authorize specific individuals to act as signatories on behalf of the company. Compliant with the Corporations Act 2001 and relevant state legislation, this document officially records the board's decision to delegate signing authority, specifying the scope, limitations, and conditions of such authority. It includes detailed identification of authorized persons, their powers, any monetary limits, and specific types of documents they are authorized to execute, making it a crucial instrument for corporate operations and regulatory compliance.

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What is a Board Resolution Authorized Signatory?

The Board Resolution Authorized Signatory Template is a fundamental corporate governance document used when a company needs to formally delegate signing authority to specific individuals. This document is particularly crucial in the Australian business context, where it must comply with the Corporations Act 2001 and relevant state legislation. It is typically used when appointing new signatories, updating existing authorities, or revising signing powers within the organization. The resolution includes essential details such as the identities of authorized signatories, scope of their authority, monetary limits, and specific transaction types they can execute. This template ensures that the company maintains proper governance controls while facilitating efficient business operations through clearly documented delegation of authority.

What sections should be included in a Board Resolution Authorized Signatory?

1. Meeting Details: Specifies the date, time, location of the board meeting, and confirmation of quorum

2. Attendees: Lists all board members present, apologies, and any other attendees

3. Chair: Identifies the chairperson of the meeting

4. Background: Brief context explaining the need for appointing authorized signatories

5. Resolutions: Clear statement of the board's resolutions regarding authorized signatories, including their names and scope of authority

6. Signing Authority Limits: Specific monetary or transaction limits for each authorized signatory

7. Certification: Certification by the company secretary or chairman that the resolution was duly passed

What sections are optional to include in a Board Resolution Authorized Signatory?

1. Revocation of Previous Authorities: Include when replacing existing authorized signatories to explicitly revoke previous authorities

2. Bank Account Details: Include when the resolution is specifically for banking purposes, listing relevant account numbers

3. Multiple Signatory Requirements: Include when implementing dual or multiple signatory requirements for certain transaction types or amounts

4. Digital Signature Authorization: Include when specifically authorizing the use of electronic or digital signatures

5. Foreign Operations: Include when authorizing signatories for overseas operations or specific jurisdictions

What schedules should be included in a Board Resolution Authorized Signatory?

1. Schedule A - Authorized Signatory Details: Detailed list of authorized signatories including full names, positions, and specimen signatures

2. Schedule B - Authorization Matrix: Matrix showing different transaction types and corresponding signatory requirements

3. Appendix 1 - Identification Documents: Copies of identification documents for each authorized signatory

4. Appendix 2 - Corporate Structure: Organization chart showing the position of authorized signatories within the company (if relevant)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Australia

Publisher

Genie AI

Sector

Banking

Cost

Free to use
Relevant Industries

Banking and Financial Services

Professional Services

Manufacturing

Retail

Technology

Healthcare

Mining and Resources

Construction

Education

Non-Profit Organizations

Real Estate

Transportation and Logistics

Energy and Utilities

Telecommunications

Relevant Teams

Legal

Finance

Corporate Governance

Compliance

Risk Management

Treasury

Operations

Company Secretariat

Board Secretariat

Executive Office

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Company Secretary

Managing Director

Finance Director

Board Director

Corporate Counsel

Legal Counsel

Compliance Officer

Treasury Manager

Financial Controller

Operations Director

General Manager

Commercial Director

Risk Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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