A Board Resolution For Opening Trading Account is a crucial corporate document required by financial institutions in Hong Kong before allowing a company to open and operate a trading account. This document is necessary whenever a company wishes to engage in securities trading, forex trading, or other investment activities through a broker or financial institution. The resolution must comply with Hong Kong's Companies Ordinance and Securities and Futures Ordinance, demonstrating proper corporate governance and authorization. It typically includes details about the type of trading account, authorized signatories, trading limits, and specific permissions granted by the board. The document serves as proof of proper corporate authorization and is often required for regulatory compliance and audit purposes.
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1. Company Details: Legal name of the company, registration number, and registered office address
2. Meeting Details: Date, time, location of the board meeting, and confirmation of quorum
3. Attendance: List of directors present at the meeting and those absent
4. Declarations: Statement regarding any conflicts of interest and their handling
5. Resolution Purpose: Clear statement of the purpose to open a trading account
6. Account Details: Specification of the type of trading account and the financial institution where it will be opened
7. Authorized Actions: Specific actions that are being authorized by the board
8. Authorized Persons: Names and details of individuals authorized to operate the account
9. Operating Instructions: Signing requirements and transaction limits for account operation
10. Certification: Statement certifying that the resolution was passed in accordance with the company's articles
1. Prior Resolutions: Reference to and/or revocation of any previous resolutions relating to trading accounts, used when replacing existing mandates
2. Additional Services: Authorization for specific additional services like online trading platforms or margin facilities, included when such services are required
3. Foreign Currency Trading: Specific authorizations for foreign currency trading, included when the company plans to engage in forex trading
4. Risk Acknowledgment: Specific acknowledgment of trading risks, included when required by the financial institution or for certain types of trading activities
5. Subsidiary Accounts: Authorization for opening subsidiary or related accounts, included when multiple linked accounts are needed
1. Schedule 1 - Authorized Signatories: Detailed list of authorized signatories with specimen signatures and signing limits
2. Schedule 2 - Transaction Limits: Detailed breakdown of transaction limits for different types of trades or different authorized persons
3. Schedule 3 - Required Documents: List of supporting documents to be provided to the financial institution
4. Appendix A - Board Members' Information: Detailed information about board members present at the meeting
5. Appendix B - Company's Trading Mandate: Specific details about the types of trading activities the company is authorized to engage in
Authors
Relevant legal definitions
Clauses
Relevant Industries
Financial Services
Manufacturing
Import/Export
Retail
Technology
Real Estate
Construction
Mining
Energy
Healthcare
Telecommunications
Professional Services
Trading Companies
Investment Firms
Logistics
Relevant Teams
Legal
Finance
Compliance
Treasury
Corporate Secretarial
Risk Management
Investment
Corporate Governance
Executive Management
Board Secretariat
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Company Secretary
Director
Board Member
Financial Controller
Treasury Manager
Compliance Officer
Legal Counsel
Risk Manager
Investment Manager
Corporate Secretary
Managing Director
Executive Director
Finance Manager
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