A Letter To Bank For Change In Authorised Signatory is a crucial document used when a company needs to update its banking mandate due to personnel changes, organizational restructuring, or other business requirements. In the Malaysian context, this document must align with the Financial Services Act 2013 and Bank Negara Malaysia guidelines, requiring proper verification and documentation to maintain security and regulatory compliance. The letter typically includes comprehensive details about the current and new signatories, account information, and the scope of authority being transferred or granted. It must be supported by appropriate corporate authorizations and forms an essential part of a company's banking records and governance documentation.
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1. Bank's Address and Date: Full name and address of the bank branch, including the date of the letter
2. Reference Line: Reference to relevant account numbers and any previous correspondence
3. Subject Line: Clear indication that this is a request for change in authorized signatory
4. Current Signatory Information: Details of the existing authorized signatory(ies) being replaced or removed
5. New Signatory Information: Complete details of the new authorized signatory(ies) including full name, position, NRIC/Passport number
6. Effective Date: Specified date from which the change should take effect
7. Authorization Confirmation: Confirmation that the change has been properly authorized by the company's board/management
8. Contact Information: Details for follow-up communications
9. Closing and Signatures: Professional closing, with signatures of appropriate company officers
1. Multiple Account Details: Section listing all affected accounts when the change applies to multiple account numbers
2. Specific Powers and Limitations: Detailed description of specific powers granted to the new signatory (e.g., transaction limits, specific transaction types)
3. Reason for Change: Explanation of why the change is being made, if required by bank or if circumstances warrant explanation
4. Interim Arrangements: Details of any temporary arrangements needed during the transition period
5. Digital Banking Access: Instructions regarding online banking access and authorities for the new signatory
1. Board Resolution: Copy of the board resolution approving the change in authorized signatory
2. New Signatory ID Documents: Certified copies of NRIC/Passport and other identification documents of new signatory
3. Specimen Signature: New signatory's specimen signature card or form as required by the bank
4. Updated Company Documents: Recent company documents including Form 49, company profile from SSM if required
5. Signing Mandate: Updated signing mandate form provided by the bank, if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate
Retail
Manufacturing
Technology
Healthcare
Education
Non-profit
Construction
Real Estate
Professional Services
Hospitality
Transportation
Energy
Agriculture
Relevant Teams
Finance
Legal
Corporate Secretarial
Compliance
Treasury
Operations
Administrative
Executive Office
Accounts
Corporate Governance
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Company Secretary
Finance Manager
Managing Director
Board Director
Treasury Manager
Financial Controller
Account Manager
Operations Director
General Manager
Executive Director
Corporate Secretary
Compliance Officer
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