Board Resolution For New Corporate Office for Nigeria

Board Resolution For New Corporate Office Template for Nigeria

A formal corporate document drafted under Nigerian law, specifically compliant with the Companies and Allied Matters Act (CAMA) 2020, that records the board of directors' official decision and authorization regarding the establishment of a new corporate office. The resolution details the specific location, financial commitments, and authorizations granted to corporate officers to execute necessary documents and actions. It includes comprehensive information about the property, financial considerations, and implementation requirements, while ensuring compliance with Nigerian corporate governance standards and local regulatory requirements.

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What is a Board Resolution For New Corporate Office?

A Board Resolution For New Corporate Office is a crucial corporate governance document required under Nigerian law when a company plans to establish new office premises. This document, governed by the Companies and Allied Matters Act (CAMA) 2020 and related Nigerian corporate legislation, serves as official evidence of the board's approval and authorization for acquiring or leasing new office space. It is typically used when companies are expanding operations, relocating, or establishing additional branches. The resolution must include specific details about the property, financial commitments, authorizations granted to officers, and implementation plans. This document is essential for legal compliance, corporate record-keeping, and dealing with external parties such as landlords, banks, and regulatory authorities in Nigeria.

What sections should be included in a Board Resolution For New Corporate Office?

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

2. Meeting Details: Information about meeting time, location, attendance, and confirmation of quorum

3. Chairperson: Identification of the meeting's chairperson

4. Notice and Quorum: Confirmation that proper notice was given and quorum was present

5. Background: Context and reasons for requiring a new corporate office

6. Proposed Location: Details of the new office location and property specifications

7. Financial Considerations: Overview of costs, budget allocation, and financial impact

8. Primary Resolutions: The main resolution(s) regarding the approval of the new office

9. Authorization: Specific authorizations granted to officers to execute necessary documents

10. Certification: Certification by the Company Secretary or appropriate officer that the resolution was duly passed

What sections are optional to include in a Board Resolution For New Corporate Office?

1. Property Acquisition Terms: Include when purchasing rather than leasing property

2. Lease Terms: Include when leasing rather than purchasing property

3. Renovation Approval: Include when modifications to the property are required

4. Environmental Compliance: Include when environmental assessments or certifications are needed

5. Regulatory Compliance: Include when specific regulatory approvals are required

6. Staff Relocation: Include when the new office involves staff relocation

7. Timeline and Implementation: Include when specific implementation phases need to be outlined

What schedules should be included in a Board Resolution For New Corporate Office?

1. Schedule A - Property Details: Detailed description of the property including address, size, and specifications

2. Schedule B - Financial Summary: Detailed breakdown of costs, including purchase/lease price, renovations, and other expenses

3. Schedule C - Due Diligence Reports: Summary of property inspection, title search, and other due diligence findings

4. Appendix 1 - Property Documents: Copies of relevant property documents (title, lease agreement draft, etc.)

5. Appendix 2 - Floor Plans: Architectural plans and layout of the new office

6. Appendix 3 - Regulatory Permits: Copies of required permits and approvals

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

Technology

Manufacturing

Real Estate

Professional Services

Retail

Healthcare

Energy

Telecommunications

Construction

Agriculture

Mining

Education

Relevant Teams

Legal

Finance

Operations

Administration

Facilities Management

Corporate Secretariat

Compliance

Real Estate

Risk Management

Corporate Affairs

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Board Chairman

Board Director

Chief Financial Officer

Chief Operating Officer

Facilities Manager

Corporate Legal Counsel

Real Estate Manager

Operations Director

Administrative Director

Finance Director

Compliance Officer

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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