Appointment Of Trustee Resolution for Nigeria

Appointment Of Trustee Resolution Template for Nigeria

A formal corporate resolution document governed by Nigerian law that officially appoints a trustee to manage and oversee specific assets, property, or arrangements on behalf of the appointing entity. The document outlines the trustee's powers, duties, responsibilities, and terms of appointment in accordance with Nigerian trust laws, particularly the Trustees Investment Act and Companies and Allied Matters Act (CAMA) 2020. It serves as a legal record of the appointment and establishes the framework for the trustee's authority and obligations in managing the trust assets.

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What is a Appointment Of Trustee Resolution?

An Appointment of Trustee Resolution is a crucial document used in Nigerian corporate governance when a company needs to formally appoint a trustee to manage specific assets, oversee particular arrangements, or fulfill certain fiduciary responsibilities. The document is essential for compliance with Nigerian trust laws and corporate regulations, particularly the Trustees Investment Act and CAMA 2020. It's typically used when establishing new trust arrangements, replacing existing trustees, or modifying trustee appointments. The resolution must be properly executed in accordance with Nigerian law and should clearly outline the scope of the trustee's authority, duties, and limitations. This document is particularly important in contexts involving corporate bonds, employee share schemes, pension funds, or other arrangements requiring independent trustee oversight.

What sections should be included in a Appointment Of Trustee Resolution?

1. Title and Date: Formal title of the resolution and date of passing

2. Company Details: Full legal name and registration details of the company making the appointment

3. Preamble: Standard resolution opening text confirming the meeting details and quorum

4. Background: Context for the trustee appointment, including any previous trustee details if applicable

5. Definitions: Key terms used in the resolution

6. Appointment Resolution: Formal resolution text appointing the trustee

7. Trustee Details: Full details of the appointed trustee including registration information and qualifications

8. Powers and Duties: Specific powers and duties being granted to the trustee

9. Term of Appointment: Duration of the appointment and any renewal provisions

10. Remuneration: Details of trustee fees and payment terms

11. Execution: Signature blocks for authorized signatories

What sections are optional to include in a Appointment Of Trustee Resolution?

1. Replacement of Previous Trustee: Required when the appointment is replacing an existing trustee, including details of the handover process

2. Special Powers: Include when specific additional powers beyond standard trustee powers are being granted

3. Investment Guidelines: Include when specific investment restrictions or guidelines are being imposed on the trustee

4. Indemnification: Optional provisions regarding trustee indemnification beyond statutory provisions

5. Insurance Requirements: Include when specific insurance requirements are being imposed on the trustee

6. Reporting Requirements: Include when specific reporting obligations beyond standard requirements are being imposed

What schedules should be included in a Appointment Of Trustee Resolution?

1. Schedule 1 - Trust Property: Detailed list and description of the trust property being placed under trustee management

2. Schedule 2 - Fee Schedule: Detailed breakdown of trustee fees and charges

3. Schedule 3 - Powers of the Trustee: Comprehensive list of specific powers granted to the trustee

4. Appendix A - Required Qualifications: Details of required professional qualifications and certifications for the trustee

5. Appendix B - Meeting Minutes: Copy of the meeting minutes where the resolution was passed

6. Appendix C - Due Diligence Documents: Copies of trustee's licenses, certifications, and other relevant documentation

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

Jurisdiction

Nigeria

Publisher

Genie AI

Document Type

Board Resolution

Cost

Free to use
Relevant Industries

Financial Services

Banking

Investment Management

Real Estate

Insurance

Pension Funds

Capital Markets

Corporate Services

Trust Services

Asset Management

Private Equity

Infrastructure Development

Energy

Mining

Relevant Teams

Legal

Corporate Secretariat

Compliance

Risk Management

Corporate Governance

Finance

Investment Management

Trust Administration

Board of Directors

Executive Management

Corporate Services

Asset Management

Relevant Roles

Chief Executive Officer

Company Secretary

Legal Counsel

Corporate Governance Officer

Trust Manager

Compliance Officer

Board Director

Chief Financial Officer

Investment Manager

Risk Manager

Corporate Trustee

Fund Manager

Asset Manager

Trust Administrator

Corporate Services Manager

Industries
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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