A Board Resolution For Sale of Vehicle is a crucial corporate governance document required under South African law when a company intends to dispose of a vehicle from its assets. This document is necessary to comply with the Companies Act 71 of 2008 and demonstrates proper corporate authorization for the transaction. It is typically used when a company needs to sell any type of company-owned vehicle, whether due to fleet renewal, asset optimization, or other business reasons. The resolution must be properly executed during a valid board meeting with a quorum present and should contain specific details about the vehicle, approved price range, authorized signatories, and any special conditions of the sale. This document protects the company's interests by ensuring transparent decision-making and proper authorization for the disposal of company assets.
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1. Company Details: Legal name of the company, registration number, and registered address
2. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum
3. Directors Present: List of directors in attendance and those absent with or without apology
4. Background: Brief context about the vehicle ownership and reason for sale
5. Resolution: The formal resolution text authorizing the sale of the vehicle
6. Authorization: Specific authorization of designated person(s) to execute the sale and related documents
7. Price and Terms: Approved selling price range and key terms of the sale
8. Certification: Certification by the chairperson or company secretary that the resolution was duly passed
1. Related Party Disclosure: Required if the sale is to a related party such as a director or employee
2. Multiple Vehicle Schedule Reference: Required if the resolution covers more than one vehicle
3. Financing Terms: Required if there are specific financing arrangements or installment terms to be approved
4. Trade-in Details: Required if the sale involves a trade-in of another vehicle
5. Special Conditions: Any special conditions or restrictions on the sale
1. Schedule A - Vehicle Details: Detailed description of the vehicle including make, model, year, VIN, registration number, and current condition
2. Schedule B - Valuation Report: Independent valuation or market assessment of the vehicle (if obtained)
3. Schedule C - Supporting Documents: List of relevant documents such as vehicle registration, service history, and insurance details
4. Schedule D - Delegation of Authority: Specific powers and limitations granted to the authorized person(s) for executing the sale
Relevant legal definitions
Company
Board
Directors
Meeting
Resolution
Vehicle
Purchase Price
Authorized Representative
Purchaser
Transfer Date
Registration Documents
Certificate of Registration
eNaTIS
VAT
Effective Date
Quorum
Chairperson
Company Secretary
Meeting Minutes
Signature Date
Transaction Documents
Title Deed
Road Worthy Certificate
Service History
Board
Directors
Meeting
Resolution
Vehicle
Purchase Price
Authorized Representative
Purchaser
Transfer Date
Registration Documents
Certificate of Registration
eNaTIS
VAT
Effective Date
Quorum
Chairperson
Company Secretary
Meeting Minutes
Signature Date
Transaction Documents
Title Deed
Road Worthy Certificate
Service History
Clauses
Company Information
Meeting Details
Quorum Confirmation
Attendance Record
Background
Purpose
Authority
Vehicle Details
Sale Terms
Price Approval
Payment Terms
Transfer Authorization
Documentation Authority
Execution Authority
Delegation of Powers
Related Party Disclosure
Certification
Registration Transfer
Financial Authority
Implementation Instructions
Meeting Details
Quorum Confirmation
Attendance Record
Background
Purpose
Authority
Vehicle Details
Sale Terms
Price Approval
Payment Terms
Transfer Authorization
Documentation Authority
Execution Authority
Delegation of Powers
Related Party Disclosure
Certification
Registration Transfer
Financial Authority
Implementation Instructions
Relevant Industries
Transportation
Logistics
Fleet Management
Manufacturing
Construction
Mining
Agriculture
Retail
Professional Services
Real Estate
Energy
Telecommunications
Relevant Teams
Legal
Finance
Operations
Administration
Compliance
Fleet Management
Procurement
Asset Management
Corporate Secretariat
Risk Management
Relevant Roles
Chief Executive Officer
Managing Director
Company Secretary
Fleet Manager
Chief Financial Officer
Legal Counsel
Operations Director
Administrative Manager
Compliance Officer
Board Director
Finance Manager
Asset Manager
Procurement Manager
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