A Board Resolution For Applying Loan From Bank is a fundamental corporate document required by Hong Kong banks and regulatory authorities when a company seeks to obtain financing. This document is essential for demonstrating that the company has followed proper governance procedures and obtained necessary internal approvals before entering into a loan agreement. The resolution must comply with Hong Kong's Companies Ordinance and typically includes details about the loan amount, purpose, authorized signatories, and any security arrangements. It serves as evidence that the board has exercised its decision-making authority in accordance with the company's Articles of Association and applicable laws. Banks rely on this resolution as proof of corporate authorization and compliance with internal governance requirements before disbursing funds.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Attendance and Quorum: List of directors present and confirmation of meeting quorum as per Articles of Association
3. Chairman: Identification of the meeting's chairman
4. Notice and Meeting Validity: Confirmation that proper notice was given and meeting was validly convened
5. Purpose: Statement of the purpose for seeking the bank loan
6. Loan Details: Specific details of the proposed loan including amount, term, interest rate, and purpose
7. Bank Details: Name and details of the lending bank
8. Board Approval: Formal statement of the board's approval of the loan application
9. Authorized Signatories: Designation of authorized persons to execute loan documents
10. Document Authorization: Authorization to execute specific documents related to the loan
11. Certification: Company Secretary's certification of the resolution's validity
1. Security/Collateral Details: Include when the loan requires specific company assets as security
2. Related Party Transactions: Required if the loan arrangement involves any related party transactions
3. Special Conditions: Include when there are specific conditions or requirements from the bank that need board approval
4. Corporate Guarantee: Include when the company is providing guarantees for subsidiaries or related entities
5. Previous Resolution Reference: Include when this resolution amends or relates to previous board resolutions
1. List of Authorized Signatories: Detailed list of authorized persons with their specimen signatures
2. Loan Facility Terms: Summary of key terms and conditions of the loan facility
3. List of Security Documents: If applicable, comprehensive list of security documents to be executed
4. Directors' Attendance Record: Detailed record of directors' attendance including those participating virtually
5. Corporate Structure Chart: If relevant for group company loans, showing relationship between borrower and related entities
Relevant legal definitions
Clauses
Meeting Details
Quorum Confirmation
Corporate Authority
Loan Facility Approval
Borrowing Powers
Security Authorization
Execution Authority
Authorized Signatories
Bank Account Operation
Document Execution
Corporate Guarantee
Financial Terms
Security Arrangements
Related Party Transactions
Board Confirmation
Certification
Secretary Authorization
Quorum Confirmation
Corporate Authority
Loan Facility Approval
Borrowing Powers
Security Authorization
Execution Authority
Authorized Signatories
Bank Account Operation
Document Execution
Corporate Guarantee
Financial Terms
Security Arrangements
Related Party Transactions
Board Confirmation
Certification
Secretary Authorization
Relevant Industries
Banking and Financial Services
Corporate Services
Legal Services
Manufacturing
Retail
Technology
Real Estate
Construction
Healthcare
Education
Hospitality
Transportation and Logistics
Energy
Telecommunications
Professional Services
Relevant Teams
Legal
Finance
Corporate Secretarial
Treasury
Compliance
Risk Management
Corporate Governance
Executive Management
Board Secretariat
Banking Relations
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Legal Counsel
Finance Director
Treasury Manager
Corporate Finance Manager
Board Director
Managing Director
Financial Controller
Compliance Officer
Risk Manager
Corporate Governance Officer
Banking Relationship Manager
Senior Finance Executive
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