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Board Resolution For Adding Authorised Signatory In Bank for Pakistan

Board Resolution For Adding Authorised Signatory In Bank Template for Pakistan

A Board Resolution for Adding Authorized Signatory in Bank is a formal document issued under Pakistani corporate law that records the board of directors' decision to grant signing authority to a designated individual for banking operations. This document, governed by the Companies Act 2017 and relevant banking regulations in Pakistan, serves as official authorization for banks to accept the signature of the newly appointed individual for specified banking transactions. It includes detailed information about the scope of authority, any applicable transaction limits, and specific accounts covered under the authorization.

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

The Board Resolution For Adding Authorised Signatory In Bank is a crucial corporate governance document used when a company needs to designate new individuals with the authority to conduct banking transactions. In Pakistan, this document is required by banks and must comply with the Companies Act 2017, Banking Companies Ordinance 1962, and State Bank of Pakistan regulations. It's typically needed when appointing new executives, during organizational restructuring, or when existing signatories leave the organization. The resolution must be passed in a properly convened board meeting and includes specific details about the signatory's powers, transaction limits, and the accounts they can operate. This document serves as the bank's primary authority to accept instructions from the newly appointed signatory and forms part of the company's essential corporate records.

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

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

2. Meeting Details: Date, time, venue of the board meeting, and statement of proper convening

3. Attendance Record: List of directors present and absent, confirmation of quorum

4. Chairperson Declaration: Statement identifying the chairperson of the meeting

5. Background: Brief context explaining the need for adding new authorized signatory

6. Main Resolution: Formal resolution text specifying the addition of new signatory, their details, and extent of authority

7. Signing Authority Details: Specific powers and limitations granted to the new signatory

8. Bank Account Details: Relevant bank account numbers and branch details

9. Certification: Declaration of the resolution's validity and authorization for submission to bank

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

1. Existing Signatory Status: Include when modifying or revoking existing signatories' powers

2. Transaction Limits: Add when specifying monetary limits for the new signatory

3. Digital Banking Access: Include when granting online/digital banking access privileges

4. Multiple Bank Accounts: Add when the signatory authority extends to multiple bank accounts

5. Foreign Currency Authority: Include when granting authority for foreign currency transactions

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

1. Specimen Signature Card: New signatory's specimen signatures and photographs

2. Identity Documents: Copies of required ID documents of new signatory

3. Existing Board Resolution: Copy of previous board resolution regarding bank signatories (if modifying existing arrangement)

4. Bank-Specific Forms: Any additional forms required by the specific bank

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

Pakistan

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions





















Clauses

















Relevant Industries

Banking & Financial Services

Corporate Services

Manufacturing

Retail

Technology

Healthcare

Education

Energy

Construction

Real Estate

Professional Services

Transportation & Logistics

Hospitality

Agriculture

Mining

Telecommunications

Relevant Teams

Finance

Legal

Corporate Secretariat

Treasury

Accounts

Corporate Governance

Executive Management

Board of Directors

Administrative

Compliance

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Finance Director

Managing Director

Company Secretary

Treasury Manager

Financial Controller

Finance Manager

Board Director

Executive Director

General Manager

Head of Finance

Accounts Manager

Corporate Secretary

Legal Counsel

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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