A Board Resolution For Sale Of Property is a crucial corporate document required under Hong Kong law when a company intends to sell real property assets. This document is necessary to demonstrate proper corporate authorization and compliance with the Companies Ordinance (Cap. 622) and the company's constitutional documents. It is typically prepared following a board meeting where directors have approved the property sale and must be executed before the property transaction can proceed. The resolution includes essential details such as the property description, sale terms, authorized signatories, and any specific conditions of the sale. It serves multiple purposes: providing evidence of corporate authority for the Land Registry, satisfying buyer's due diligence requirements, and maintaining proper corporate governance records. This document is particularly important in Hong Kong's property market, where corporate property transactions are subject to strict regulatory oversight and documentation requirements.
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1. Company Details: Full legal name of the company, company registration number, and registered office address
2. Meeting Details: Date, time, location of the board meeting, and confirmation of proper notice
3. Attendance and Quorum: List of directors present and confirmation of quorum requirements being met
4. Background: Brief description of the property sale proposal and reason for the transaction
5. Property Details: Full legal description of the property being sold
6. Sale Terms: Key terms of the sale including price, payment terms, and completion date
7. Board Declarations: Declarations regarding directors' interests and compliance with company's articles
8. Resolutions: The actual resolutions being passed, numbered sequentially
9. Authorization: Specific authorization for named individuals to execute documents and complete the transaction
10. Certification: Certification by company secretary or director that resolution is true and accurate
1. Related Party Disclosures: Required when the sale involves related parties or directors' interests
2. Mortgage Discharge: Include when the property being sold has an existing mortgage that needs to be discharged
3. Special Conditions: Any special conditions or requirements specific to the transaction
4. Tax Considerations: Include when there are specific tax implications that need board acknowledgment
5. Shareholder Approval: Required when the transaction size requires shareholder approval under articles or law
1. Schedule 1 - Property Details: Detailed legal description of the property, including lot number, address, and registered particulars
2. Schedule 2 - Sale Terms: Detailed terms and conditions of the sale
3. Schedule 3 - Authorized Signatories: List of authorized persons with their details and specific powers
4. Appendix A - Property Documents: List of relevant property documents (title deeds, plans, etc.)
5. Appendix B - Company Extract: Recent company search showing current directors and company details
Relevant legal definitions
Company
Board
Directors
Property
Sale Price
Completion Date
Purchaser
Articles of Association
Companies Ordinance
Authorized Signatories
Sale and Purchase Agreement
Assignment
Relevant Documents
Meeting
Chairman
Company Secretary
Land Registry
Title Documents
Stamp Duty
Completion
Resolution
Registered Office
Corporate Seal
Board Meeting
Quorum
Board
Directors
Property
Sale Price
Completion Date
Purchaser
Articles of Association
Companies Ordinance
Authorized Signatories
Sale and Purchase Agreement
Assignment
Relevant Documents
Meeting
Chairman
Company Secretary
Land Registry
Title Documents
Stamp Duty
Completion
Resolution
Registered Office
Corporate Seal
Board Meeting
Quorum
Clauses
Meeting Constitution
Quorum Confirmation
Declaration of Interests
Property Description
Transaction Terms
Sale Authorization
Execution Authority
Document Authorization
Regulatory Compliance
Power of Attorney
Bank Authority
Legal Representation
Company Secretary Authority
Property Title
Consideration
Completion Requirements
Corporate Seal Usage
Signing Authority
Further Assurance
Resolution Recording
Quorum Confirmation
Declaration of Interests
Property Description
Transaction Terms
Sale Authorization
Execution Authority
Document Authorization
Regulatory Compliance
Power of Attorney
Bank Authority
Legal Representation
Company Secretary Authority
Property Title
Consideration
Completion Requirements
Corporate Seal Usage
Signing Authority
Further Assurance
Resolution Recording
Relevant Industries
Real Estate
Property Development
Commercial Property
Retail
Industrial
Hospitality
Office Space
Manufacturing
Logistics
Healthcare
Education
Relevant Teams
Legal
Corporate Secretarial
Compliance
Real Estate
Property Management
Corporate Governance
Risk Management
Board Secretariat
Executive Office
Finance
Relevant Roles
Director
Company Secretary
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Corporate Lawyer
Property Manager
Real Estate Manager
Compliance Officer
Risk Manager
Board Chairman
Executive Director
Non-Executive Director
Property Officer
Corporate Governance Officer
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