A Board Resolution For Bank Account Signatory is a critical corporate governance document used in Australia when a company needs to designate or change authorized individuals who can operate its bank accounts. This document is required by banks and financial institutions as evidence that the company has properly authorized specific individuals to act on its behalf in banking matters. The resolution must comply with the Corporations Act 2001 (Cth), the company's constitution, and relevant banking regulations. It typically includes details of the authorized signatories, their powers and limitations, signing rules, and specific accounts covered. This document is essential for establishing or modifying banking relationships and ensuring smooth financial operations while maintaining proper internal controls.
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1. Company Details: Full legal name of the company, ACN/ABN, registered address and date of resolution
2. Meeting Details: Type of meeting (e.g., board meeting, circular resolution), date, time, and location/manner of meeting
3. Attendance: Names of directors present, apologies, and confirmation of quorum
4. Chair: Identification of the meeting's chairperson
5. Declaration of Interests: Statement regarding any conflicts of interest declared by directors
6. Resolution Context: Background information explaining the need for new/changed bank account signatories
7. Bank Account Details: Specific details of the relevant bank accounts including account numbers and types
8. Authorized Signatories: Names, positions, and details of appointed signatories
9. Signing Rules: Specific rules for operation of accounts (e.g., any two to sign jointly)
10. Certification: Statement certifying the resolution as true and accurate, typically signed by the chair or company secretary
1. Revocation of Previous Authorities: Section revoking previous signing authorities - include when replacing existing signatories
2. Online Banking Authorization: Specific authorities for digital banking access and operations - include when digital access is required
3. Token/Security Device Authorization: Authorization for physical security devices - include when bank requires security tokens
4. Foreign Currency Accounts: Special provisions for foreign currency accounts - include when company operates international accounts
5. Specific Transaction Limits: Detailed transaction limits for different signatories - include when implementing tiered authorization levels
1. Schedule A - Signatory Details: Detailed information about each signatory including full name, address, position, and specimen signature
2. Schedule B - Account Listing: Comprehensive list of all bank accounts covered by the resolution
3. Appendix 1 - Identification Documents: Copies of required identification documents for new signatories
4. Appendix 2 - Bank Forms: Bank-specific forms required to be attached to the resolution
Relevant legal definitions
Authorized Signatory
Bank
Board
Company
Constitution
Director
Financial Institution
Meeting
Operating Mandate
Quorum
Resolution
Signing Rules
Special Instructions
Specimen Signature
Transaction Limit
Digital Banking Services
Security Token
Online Banking Platform
Account Holder
Corporate Representative
Bank
Board
Company
Constitution
Director
Financial Institution
Meeting
Operating Mandate
Quorum
Resolution
Signing Rules
Special Instructions
Specimen Signature
Transaction Limit
Digital Banking Services
Security Token
Online Banking Platform
Account Holder
Corporate Representative
Clauses
Company Identification
Meeting Procedure
Quorum Confirmation
Board Authority
Banking Authority
Signatory Appointment
Operational Limits
Transaction Rules
Digital Banking Access
Previous Authority Revocation
Authentication Requirements
Account Operation
Security Measures
Certification
Bank Instructions
Document Execution
Meeting Procedure
Quorum Confirmation
Board Authority
Banking Authority
Signatory Appointment
Operational Limits
Transaction Rules
Digital Banking Access
Previous Authority Revocation
Authentication Requirements
Account Operation
Security Measures
Certification
Bank Instructions
Document Execution
Relevant Industries
Financial Services
Banking
Corporate Services
Manufacturing
Retail
Technology
Healthcare
Education
Mining
Construction
Professional Services
Non-Profit
Agriculture
Transportation
Real Estate
Relevant Teams
Finance
Corporate Governance
Legal
Treasury
Accounts
Executive
Board of Directors
Risk & Compliance
Operations
Company Secretariat
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Company Secretary
Managing Director
Board Director
Financial Controller
Treasury Manager
Finance Manager
Accounts Manager
Corporate Governance Officer
Risk & Compliance Manager
Operations Director
General Manager
Executive Director
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