A Board Resolution For Lease Agreement is a crucial corporate governance document required when a company in South Africa needs to formalize its decision to enter into a lease agreement. This document is essential for compliance with the Companies Act 71 of 2008 and demonstrates proper corporate authorization for significant property commitments. It should be used whenever a company needs to enter into a lease agreement that requires board approval, typically for significant financial commitments or strategic locations. The resolution includes details about the meeting, attendees, property specifications, financial terms, authorized signatories, and any specific conditions set by the board. It serves as evidence of proper corporate decision-making and is often required by landlords, banks, and regulatory authorities to verify the company's authority to enter into the lease agreement.

1. Header: Company details including registration number and registered address

2. Date and Venue: Date, time, and location/method (physical/virtual) of the board meeting

3. Attendance: List of directors present, absent, and in attendance, confirming quorum requirements are met

4. Chairperson: Designation of the meeting's chairperson

5. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met

6. Background: Context of the lease agreement, including property details and business rationale

7. Declarations: Directors' declarations of interest in the transaction, if any

8. Resolutions: Specific resolutions approved by the board regarding the lease agreement

9. Authorization: Designation of authorized signatories for executing the lease agreement

10. Closure: Formal closing of the meeting

11. Certification: Certification by the chairperson or company secretary that the resolution is true and accurate