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Trust Resolution For Authorised Signatory for Pakistan

Trust Resolution For Authorised Signatory Template for Pakistan

A formal resolution document executed under Pakistani law that authorizes specific individuals to act as signatories on behalf of a trust for banking and financial matters. The document complies with the Trust Act 1882 and Banking Companies Ordinance 1962 of Pakistan, establishing the scope of authority, transaction limits, and operational parameters for authorized signatories. It includes detailed provisions for banking operations, specimen signatures, and specific powers granted to the authorized individuals, ensuring clear delegation of authority while maintaining appropriate controls and compliance with local trust and banking regulations.

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What is a Trust Resolution For Authorised Signatory?

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.

What sections should be included in a Trust Resolution For Authorised Signatory?

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

What sections are optional to include in a Trust Resolution For Authorised Signatory?

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

What schedules should be included in a Trust Resolution For Authorised Signatory?

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

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

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

Industries





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