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Board Resolution For Opening Trading Account for Hong Kong

Board Resolution For Opening Trading Account Template for Hong Kong

A formal corporate document executed under Hong Kong law that records the board of directors' resolution to open a trading account with a financial institution or broker. The document outlines the company's authorization to establish the account, specifies the authorized signatories, their respective powers and limitations, and includes specific trading permissions. It serves as official evidence of the board's approval and complies with Hong Kong's Companies Ordinance and Securities and Futures Ordinance requirements, providing the necessary corporate authority for the company to engage in trading activities.

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Board Resolution For Opening Trading Account

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What is a Board Resolution For Opening Trading Account?

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.

What sections should be included in a Board Resolution For Opening Trading Account?

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

What sections are optional to include in a Board Resolution For Opening Trading Account?

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

What schedules should be included in a Board Resolution For Opening Trading Account?

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

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

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

Industries






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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