Document background
A Board Resolution For Sale of Company is a critical corporate document required under Singapore law when a company is being sold. It serves as official evidence that the board of directors has approved the sale transaction in accordance with the Companies Act and the company's constitution. The resolution should be prepared when the company has received a firm offer for purchase and the board has determined that the sale is in the company's best interests. It typically includes the sale terms, consideration, buyer details, and specific authorizations for executing the transaction documents. This document is particularly important for corporate record-keeping and may be required by various stakeholders including regulators, banks, and the purchasing entity.
