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Board Resolution For Private Limited Company Template for Singapore

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Key Requirements PROMPT example:

Board Resolution For Private Limited Company

"I need a Board Resolution For Private Limited Company to authorize the opening of a new corporate bank account with DBS Bank Singapore and designate our new CFO, Sarah Chen, as a signatory with transaction limits of SGD 500,000."

Document background
A Board Resolution For Private Limited Company is a crucial corporate governance document used in Singapore when the board needs to formally record its decisions. It's required under the Companies Act (Cap. 50) for various corporate actions, from routine operational matters to significant strategic decisions. The resolution must include specific details such as the date, attending directors, the decision made, and proper signatures. It serves as legal evidence of the board's decision-making and protects both the company and its directors by maintaining a clear record of corporate actions.
Suggested Sections

1. Title and Date: Identifying information of the resolution and meeting date

2. Preamble: Company details and meeting information including company name, registration number, and registered address

3. Attendance: List of directors present and absent at the meeting

4. Quorum: Confirmation of valid quorum as per company constitution requirements

5. Resolution(s): The actual decision(s) being made by the board, clearly stated and numbered if multiple

6. Signatures: Directors' signatures, names, and date of signing

Optional Sections

1. Recitals: Background information explaining why the resolution is needed, used for complex decisions requiring context

2. Declarations of Interest: Directors' declarations of any conflicts of interest in relation to the resolution

3. Conditions Precedent: Conditions that must be met before resolution takes effect, used for resolutions dependent on external factors

Suggested Schedules

1. Supporting Documents: Any relevant documents referenced in the resolution such as contracts, agreements, or correspondence

2. Financial Statements: Financial documents relevant to the resolution, if the resolution involves financial matters

3. Legal Opinions: Any legal advice or opinions received that are relevant to the resolution

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























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Industries

Companies Act (Cap. 50): Primary legislation governing company operations in Singapore, including board meetings, directors' duties (Section 157), and record-keeping requirements (Section 188)

Companies Regulations: Subsidiary legislation providing detailed requirements for company administration and compliance in Singapore

Company Constitution Requirements: Company's own constitutional documents specifying internal rules for board meetings, decision-making processes, and governance structure

ACRA Requirements: Regulatory requirements set by the Accounting and Corporate Regulatory Authority for Singapore companies

SGX Requirements: Singapore Exchange regulations (applicable if the company is listed)

Directors' Duties: Legal obligations of directors under Section 157 of Companies Act, including fiduciary duties and duty of care

Quorum Requirements: Minimum number of directors required to be present for valid board meetings as per company constitution

Notice Period Requirements: mandatory timeframes for giving notice of board meetings to directors

Disclosure Requirements: Obligations for directors to disclose their interests in transactions with the company

Securities and Futures Act: Regulations governing financial matters and securities trading (if applicable)

Personal Data Protection Act 2012: Requirements for handling personal data in corporate documentation and decision-making

Corporate Governance Requirements: General principles and specific rules for ensuring proper company management and oversight

Industry-Specific Regulations: Additional regulatory requirements specific to the company's business sector

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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