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Board Resolution For Adding Authorised Signatory In Bank for Hong Kong

Board Resolution For Adding Authorised Signatory In Bank Template for Hong Kong

A formal corporate document executed under Hong Kong law that records the board of directors' decision to add a new authorized signatory for the company's bank accounts. This document complies with the Hong Kong Companies Ordinance and Banking Ordinance requirements, detailing the specific powers granted to the new signatory, including transaction limits and any special conditions. It serves as official evidence for banks of the company's authorization and typically includes personal details of the new signatory, specimen signatures, and specific banking arrangements approved by the board.

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What is a Board Resolution For Adding Authorised Signatory In Bank?

A Board Resolution For Adding Authorised Signatory In Bank is a critical corporate governance document required when a company needs to authorize new individuals to operate its bank accounts in Hong Kong. This document is typically needed when onboarding new senior executives, replacing departing signatories, or restructuring banking arrangements. It must comply with the Hong Kong Companies Ordinance (Cap. 622), Banking Ordinance (Cap. 155), and the company's Articles of Association. The resolution includes specific details about the signatory's powers, transaction limits, and operating mandates. Banks in Hong Kong require this formal resolution before they will allow new signatories to operate company accounts, making it an essential document for maintaining effective business operations.

What sections should be included in a Board Resolution For Adding Authorised Signatory In Bank?

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Company Details: Full legal name of the company, registration number, and registered address

3. Meeting Details: Time, place, and manner of the board meeting (physical/virtual)

4. Attendance and Quorum: List of directors present and confirmation that quorum requirements are met

5. Chairperson: Identity of the person chairing the meeting

6. Recitals: Background information explaining the need for adding new signatory

7. Resolution Statement: The formal resolution text authorizing the addition of new signatory

8. Bank Account Details: Specific bank account numbers and branches affected by the resolution

9. Signatory Powers: Clear specification of the signing powers being granted

10. Certification: Certification by the chairman/company secretary that the resolution was duly passed

11. Execution: Space for signatures of relevant board members and company seal if required

What sections are optional to include in a Board Resolution For Adding Authorised Signatory In Bank?

1. Existing Signatory Modification: Section modifying powers of existing signatories, used when existing arrangements need to be changed

2. Digital Banking Access: Section specifically addressing online banking access rights, used when digital banking authority is required

3. Special Instructions: Any special operating instructions or limitations, used when specific restrictions apply to the new signatory

4. Supersession Clause: Statement superseding previous resolutions, used when replacing earlier signatory arrangements

5. Corporate Seal Authorization: Authorization for use of corporate seal, used when required by bank or company articles

What schedules should be included in a Board Resolution For Adding Authorised Signatory In Bank?

1. Schedule A - New Signatory Details: Detailed information about new signatory including full name, ID/passport number, specimen signature

2. Schedule B - Existing Signatories: List of all current authorized signatories and their signing powers

3. Schedule C - Signing Matrix: Matrix showing transaction limits and required combinations of signatories

4. Appendix 1 - ID Documents: Copies of identification documents of new signatory

5. Appendix 2 - Bank Forms: Relevant bank-specific forms referenced in the resolution

Authors

Alex Denne

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

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions




















Clauses















Relevant Industries

Banking & Financial Services

Corporate

Manufacturing

Retail

Technology

Healthcare

Real Estate

Construction

Import/Export

Professional Services

Education

Non-Profit Organizations

Logistics

Hospitality

Entertainment

Relevant Teams

Finance

Legal

Corporate Secretarial

Treasury

Accounting

Corporate Governance

Executive Office

Administration

Compliance

Risk Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Managing Director

Executive Director

Company Secretary

Financial Controller

Treasury Manager

Finance Manager

Accounting Manager

Corporate Governance Officer

Board Chairman

Non-Executive Director

General Manager

Regional Director

Industries





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