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Board Resolution For Loan From Shareholder for Hong Kong

Board Resolution For Loan From Shareholder Template for Hong Kong

A Board Resolution For Loan From Shareholder is a formal corporate document under Hong Kong law that records the board of directors' approval of a loan from a shareholder to the company. The resolution documents the board's consideration of the loan terms, confirms compliance with the company's articles of association and Hong Kong Companies Ordinance requirements, and authorizes specific individuals to execute the loan documentation. It serves as evidence of proper corporate governance and decision-making in accordance with Hong Kong legal requirements, particularly regarding related party transactions and directors' duties.

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What is a Board Resolution For Loan From Shareholder?

A Board Resolution For Loan From Shareholder is a crucial corporate governance document used when a company seeks to obtain financing from one of its shareholders in Hong Kong. This document is required to demonstrate proper corporate authorization and compliance with Hong Kong's Companies Ordinance (Cap. 622) and the company's articles of association. The resolution should be prepared when the company needs to formally approve and document a shareholder loan, typically when additional working capital or project financing is required. It includes details of the board meeting, loan terms, director declarations of interest, and specific authorizations for executing the loan documentation. The document is particularly important for establishing a clear record of the board's decision-making process and ensuring transparency in related party transactions under Hong Kong law.

What sections should be included in a Board Resolution For Loan From Shareholder?

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

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

3. Present Directors: List of directors present at the meeting and confirmation of quorum

4. Chairperson: Identification of the meeting's chairperson

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

6. Background: Context of the proposed shareholder loan and company's need for financing

7. Declaration of Interests: Directors' declarations of any interests in the proposed loan

8. Loan Terms: Key terms of the shareholder loan being approved including amount, interest rate, and repayment terms

9. Board Considerations: Record of the board's deliberation and determination that the loan is in the company's best interests

10. Resolution: Formal resolution text approving the loan and authorizing specific actions

11. Authorization: Specific powers granted to execute documents and implement the resolution

12. Closure: Formal closing of the meeting and signature requirements

What sections are optional to include in a Board Resolution For Loan From Shareholder?

1. Security Arrangements: Include when the loan is to be secured by company assets

2. Related Party Transaction Requirements: Include when additional compliance steps are needed for related party transactions

3. Special Conditions: Include when there are specific conditions precedent or subsequent to the loan

4. Corporate Benefit Statement: Include when explicit statement of corporate benefit is required for regulatory purposes

5. Additional Director Approvals: Include when certain directors need to give specific approvals or abstain

6. Regulatory Notifications: Include when the loan requires notifications to regulatory bodies

What schedules should be included in a Board Resolution For Loan From Shareholder?

1. Schedule 1 - Loan Agreement Terms: Detailed terms and conditions of the shareholder loan

2. Schedule 2 - Form of Loan Agreement: Draft or final form of the loan agreement to be executed

3. Schedule 3 - Security Documents: List and/or copies of any security documents to be executed

4. Appendix A - Supporting Documents: Relevant supporting documentation such as financial statements or valuations

5. Appendix B - Powers of Attorney: If required, forms of power of attorney for executing loan documentation

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

Financial Services

Technology

Real Estate

Manufacturing

Retail

Professional Services

Healthcare

Energy

Transportation

Construction

Media and Entertainment

Education

Agriculture

Mining

Telecommunications

Relevant Teams

Legal

Finance

Corporate Secretarial

Compliance

Treasury

Corporate Governance

Board of Directors

Executive Management

Administrative

Relevant Roles

Director

Company Secretary

Chief Executive Officer

Chief Financial Officer

Financial Controller

Legal Counsel

Corporate Governance Officer

Compliance Officer

Board Chairman

Managing Director

Finance Manager

Company Administrator

Corporate Secretary

Treasury Manager

Industries





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