A Board Resolution For Power of Attorney is a crucial corporate governance document used in South Africa when a company needs to delegate authority to specific individuals to act on its behalf. This document is particularly important when the company requires representation in various business transactions, legal proceedings, or administrative matters. It must comply with the South African Companies Act 71 of 2008 and the Powers of Attorney Act 32 of 1941, ensuring proper corporate authorization and clear delineation of delegated powers. The resolution typically specifies the scope of authority, duration of the appointment, and any limitations or conditions attached to the power of attorney, providing legal certainty for both the company and third parties dealing with the appointed attorney(s).
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1. Header Information: Company details including registration number, registered address, and date of resolution
2. Title: Clear indication that this is a Board Resolution for Power of Attorney
3. Attendance and Quorum: List of directors present and confirmation of meeting quorum requirements
4. Resolution Declaration: Statement declaring that the board of directors has met and resolved to grant the power of attorney
5. Attorney Appointment: Clear identification of the attorney(s) being appointed, including full names and identification numbers
6. Scope of Authority: Detailed description of the powers being granted to the attorney(s)
7. Duration: Specification of the time period for which the power of attorney is valid
8. Execution Requirements: Details of how the attorney should execute documents when acting under this power
9. Certification: Declaration of the resolution's validity and authorization for execution
10. Signatures: Space for required signatures of directors and/or company secretary
1. Recitals: Background information explaining the necessity for the power of attorney, used when context is needed
2. Limitations and Restrictions: Specific limitations on the attorney's authority, included when the power of attorney is not general
3. Revocation of Previous Powers: Section revoking previous powers of attorney, included when replacing existing arrangements
4. Ratification Clause: Clause confirming the company will ratify actions taken under the power of attorney, used for broader authority
5. Substitute Attorney Provisions: Authorization for the attorney to appoint substitutes, included when such flexibility is needed
1. Schedule A - Specimen Signatures: Sample signatures of appointed attorneys for verification purposes
2. Schedule B - Specific Powers: Detailed list of specific powers and authorities granted, when these are extensive
3. Appendix 1 - Copy of ID Documents: Certified copies of identification documents for appointed attorneys
4. Appendix 2 - Certificate of Incumbency: Confirmation of current directors and their positions, if required by third parties
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Banking
Real Estate
Manufacturing
Mining
Retail
Construction
Technology
Healthcare
Transportation
Energy
Agriculture
Professional Services
Telecommunications
Import/Export
Relevant Teams
Legal
Corporate Governance
Compliance
Executive Management
Board of Directors
Company Secretariat
Risk Management
Corporate Affairs
Administrative
Relevant Roles
Chief Executive Officer
Managing Director
Company Secretary
Legal Counsel
Corporate Lawyer
Compliance Officer
Director
Board Chairman
Chief Financial Officer
Chief Operating Officer
General Manager
Corporate Governance Officer
Risk Manager
Executive Director
Non-Executive Director
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