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.
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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
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
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
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
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