Document background
The Board Resolution For Lease Agreement is a critical corporate governance document used in New Zealand when a company intends to enter into a lease agreement that requires board approval. This document is typically required for significant lease commitments, ensuring compliance with the Companies Act 1993 and demonstrating proper corporate decision-making processes. It serves multiple purposes: documenting the board's approval of lease terms, authorizing specific individuals to execute the lease, and providing evidence of proper corporate governance for stakeholders, including banks, auditors, and regulatory authorities. The resolution should align with the company's constitution and be maintained in the company's records as required by New Zealand law. It's particularly important for material leases, long-term commitments, or when required by the company's internal policies.
