The Trust Resolution For Authorized Signatory is a crucial document used when a trust in Pakistan needs to delegate banking and financial signing authority to specific individuals. This document is essential for trusts operating under Pakistani law, particularly when establishing or updating banking relationships, changing authorized personnel, or modifying signing authorities. It draws its legal foundation from the Trust Act 1882 and Banking Companies Ordinance 1962, ensuring compliance with local regulatory requirements. The resolution typically includes comprehensive details about the appointed signatories, their powers, any limitations on their authority, and specific banking arrangements. It's particularly important for maintaining proper governance and ensuring smooth operational functionality while protecting the trust's interests through clearly defined authorization parameters.
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1. Trust Details: Identification of the trust, including its full legal name, registration number, and principal place of business
2. Meeting Particulars: Details of the trustee meeting where the resolution was passed, including date, time, location, and quorum information
3. Recitals: Background information establishing the need for appointing authorized signatories and the trust's power to do so
4. Resolution Declaration: Formal declaration that the resolution has been passed by the trustees
5. Appointment: Specific appointment of named individuals as authorized signatories
6. Scope of Authority: Detailed description of the powers and limitations of the authorized signatories
7. Banking Powers: Specific powers related to banking operations and financial transactions
8. Operational Rules: Rules for how signatories must operate, including any joint signing requirements
9. Duration: Period for which the signing authority is valid
10. Certification: Certification by the trustees of the resolution's validity
11. Execution: Space for signatures of trustees passing the resolution
1. Revocation of Previous Authorities: Section revoking any previous signatory authorities, used when replacing existing signatories
2. Digital Banking Authorization: Additional section for authorizing digital/online banking access, used when the trust requires online banking facilities
3. Foreign Currency Operations: Special provisions for foreign currency accounts and international transactions, included when the trust operates internationally
4. Emergency Succession: Provisions for temporary or emergency replacement of authorized signatories, used in larger trusts requiring business continuity planning
5. Specific Transaction Limits: Detailed transaction limits and thresholds, included when the trust requires specific financial controls
1. Schedule A - Authorized Signatory Details: Detailed information about each authorized signatory including full name, ID numbers, specimen signatures, and contact details
2. Schedule B - Bank Account Details: List of all bank accounts covered by the signatory authorization
3. Schedule C - Transaction Limits Matrix: Detailed matrix showing transaction limits and approval requirements for different types of transactions
4. Appendix 1 - Identity Documents: Copies of identity documents of authorized signatories
5. Appendix 2 - Trust Deed Extract: Relevant extract from the trust deed showing the power to appoint signatories
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Non-Profit Organizations
Educational Institutions
Healthcare
Religious Organizations
Family Offices
Charitable Trusts
Real Estate Investment Trusts
Pension Funds
Asset Management
Relevant Teams
Legal
Finance
Compliance
Treasury
Corporate Secretarial
Risk Management
Operations
Banking Operations
Trust Administration
Relevant Roles
Trust Administrator
Financial Controller
Chief Financial Officer
Trust Manager
Company Secretary
Treasury Manager
Banking Relationship Manager
Compliance Officer
Legal Counsel
Managing Trustee
Finance Director
Operations Manager
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