The Board Resolution For Sale of Car is a crucial corporate governance document required in Malaysia when a company intends to dispose of a vehicle from its assets. This document is necessary to comply with the Companies Act 2016 and demonstrates proper corporate decision-making processes. It is typically used when a company needs to sell or dispose of company vehicles, whether due to fleet renewal, asset optimization, or other business reasons. The resolution must include specific details about the vehicle, authorized personnel for the transaction, and sale terms. It serves as evidence of proper authorization for the Road Transport Department (JPJ) and other relevant authorities, while also protecting the company's interests by documenting the board's approval of the asset disposal.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Company Details: Full legal name and registration number of the company
3. Attendance: List of directors present and absent at the meeting
4. Quorum: Confirmation that the meeting has met quorum requirements
5. Resolution Context: Background information explaining the reason for selling the vehicle
6. Vehicle Details: Specific information about the car being sold including make, model, registration number, and chassis number
7. Sale Terms: Details of the sale including price and payment terms
8. Authorization: Specific authorization for designated person(s) to execute the sale
9. Certification: Statement certifying that the resolution was duly passed
1. Special Conditions: Any special conditions or restrictions on the sale, used when there are specific requirements
2. Related Party Disclosure: Required when the buyer is a related party to the company
3. Use of Proceeds: Section specifying how the sale proceeds will be used, needed for corporate governance requirements
4. Multiple Vehicle Details: Used when the resolution covers the sale of multiple vehicles
5. Dealer Authorization: Required when a specific dealer is authorized to handle the sale
1. Schedule A - Vehicle Details: Detailed specification of the vehicle including registration documents, maintenance history, and condition report
2. Schedule B - Valuation Report: Independent valuation of the vehicle if required for corporate governance
3. Appendix 1 - Supporting Documents: Copies of vehicle registration card, insurance documents, and other relevant certificates
4. Appendix 2 - Authorization Matrix: Company's authorization matrix showing authority to dispose of assets (if referenced in resolution)
Relevant legal definitions
Clauses
Relevant Industries
Transportation
Logistics
Corporate Services
Fleet Management
Manufacturing
Retail
Construction
Real Estate
Professional Services
Healthcare
Relevant Teams
Legal
Finance
Administration
Corporate Secretarial
Operations
Fleet Management
Compliance
Asset Management
Corporate Services
Risk Management
Relevant Roles
Board Director
Company Secretary
Chief Executive Officer
Chief Financial Officer
Fleet Manager
Administrative Manager
Legal Counsel
Compliance Officer
Finance Director
Operations Manager
Asset Manager
Corporate Services Manager
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