Document background
A Resolution To Change Bank Signatories is a crucial corporate governance document used when a company needs to modify who can authorize transactions on its bank accounts. This document is particularly important in New Zealand's corporate environment, where it must comply with the Companies Act 1993 and banking regulations. It's typically required when there are changes in company personnel, particularly at the management or director level, or when existing signatories leave the organization. The resolution must be properly passed at a valid meeting of directors or shareholders, depending on the company's constitution, and typically includes specific details about the accounts affected, the signatories being removed or added, and any specific signing authorities or limitations. Banks in New Zealand rely on this document as formal authorization to update their records and provide new signatories with the appropriate access and authority over the company's accounts.
