Resolution Of Authority Template for England and Wales

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Key Requirements PROMPT example:

Resolution Of Authority Template

I need a Resolution of Authority Template to authorize our new CFO, Sarah Chen, to execute financial transactions up to £500,000 on behalf of our UK subsidiary, with the authority period starting from January 15, 2025.

Document background
The Resolution of Authority Template is essential for organizations needing to formally delegate decision-making powers or specific authorities to individuals or roles within their structure. Used extensively in England and Wales, this document provides a clear audit trail of authorized powers, helping companies maintain good corporate governance and comply with legal requirements. The template typically includes details of the powers being granted, any limitations, the duration of authority, and specific conditions under which the authority can be exercised. It's particularly crucial for ensuring business continuity and operational efficiency while maintaining proper oversight and control.
Suggested Sections

1. Company Details: Legal name, registration number, registered office of the company passing the resolution

2. Meeting Details: Date, time, location, and type of meeting where resolution was passed

3. Resolution Statement: Clear statement of what is being authorized and the powers being granted

4. Scope of Authority: Detailed description of specific powers being granted and their extent

5. Authorized Persons: Names, positions, and details of individuals receiving the authority

6. Signatures: Space for director/secretary signatures, dates, and company seal if required

Optional Sections

1. Limitations: Specific restrictions or boundaries on the authority being granted

2. Duration: Time period for which the authority remains valid, if not permanent

3. Reporting Requirements: Requirements for authorized persons to report on their activities and use of authority

Suggested Schedules

1. Schedule 1 - List of Authorized Signatories: Detailed list of names, positions, and specimen signatures of authorized persons

2. Schedule 2 - Specific Powers: Detailed breakdown of authorized activities and their scope

3. Schedule 3 - Supporting Documents: Relevant board minutes, certificates, or other supporting documentation referenced in the resolution

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

Industries

Companies Act 2006: Primary legislation governing company operations, including sections on director powers (170-177), resolution requirements, and documentation standards for corporate decision-making

Model Articles of Association: Standard templates that define internal company rules, including decision-making procedures and authority delegation provisions

Mental Capacity Act 2005: Legislation ensuring that individuals given authority have the legal capacity to make decisions and act in their designated roles

Company Directors Disqualification Act 1986: Law governing the eligibility of individuals to serve as company directors or hold authorized positions

Financial Services and Markets Act 2000: Regulatory framework for financial activities, relevant when authority involves regulated financial matters

Corporate Governance Code: Best practice guidelines for corporate decision-making and governance structures in UK companies

Partnership Act 1890: Legislation governing traditional partnerships, relevant when authority resolutions involve partnership structures

Limited Liability Partnerships Act 2000: Modern legislation governing LLPs, important for authority resolutions in LLP structures

Agency Law Principles: Common law principles governing relationships where one person acts on behalf of another

Indoor Management Rule: Common law principle (Royal British Bank v Turquand) protecting third parties dealing with companies assuming internal procedures were properly followed

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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