A Resolution to Remove Signatory From Bank Account is a crucial corporate governance document used when a company needs to formally revoke a person's authority to operate its bank accounts in the UAE. This document is typically required when an authorized signatory leaves the company, changes roles, or needs to have their banking authority revoked for other reasons. The resolution must comply with UAE Federal Law No. 14 of 2018 (Central Bank Law) and UAE Federal Law No. 2 of 2015 (Commercial Companies Law), ensuring it meets both banking and corporate governance requirements. The document needs to be prepared in a format acceptable to UAE banks, including specific details about the company, the bank accounts, the signatory being removed, and appropriate authorization from the company's governing body. It forms part of the bank's permanent records and serves as protection for both the company and the bank in establishing clear lines of authority over financial accounts.
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1. Title and Date: Formal title of the resolution and date of passing
2. Company Details: Full legal name of the company, registration number, and registered address
3. Meeting Details: Type of meeting (board/shareholder), date, time, and location where resolution was passed
4. Attendees and Quorum: List of present directors/shareholders and confirmation of meeting quorum
5. Bank Account Details: Specific details of the relevant bank account(s) including account numbers and bank branch
6. Existing Signatory Details: Details of the signatory being removed including full name, Emirates ID/passport number
7. Resolution Statement: The formal resolution statement removing the signatory's authority
8. Effective Date: Specific date from which the removal of signatory authority becomes effective
9. Authorization: Authorization for specific individuals to execute all necessary documents to implement the resolution
1. Recitals: Background information explaining the reason for removal - include if there's a specific context that needs to be documented
2. Remaining Signatories: List of individuals who will remain as authorized signatories - include if bank requires confirmation of remaining signatories
3. Signing Limits: Revised signing limits and authorities - include if any changes to signing limits are being made alongside removal
4. Related Resolutions: Reference to any related resolutions - include if this is part of a larger corporate restructuring
5. Notice Requirements: Details of any notice requirements to the removed signatory - include if required by company articles or agreements
1. Schedule 1 - Identification Documents: Copies of Emirates ID/passport of the signatory being removed
2. Schedule 2 - Bank Account Details: Complete list of affected bank accounts and their details
3. Schedule 3 - Corporate Authorization Documents: Copy of trade license, board powers, and other relevant corporate documents
4. Schedule 4 - Specimen Signatures: Updated specimen signatures of remaining authorized signatories if required by bank
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Corporate Services
Legal Services
Retail
Manufacturing
Technology
Healthcare
Real Estate
Construction
Education
Hospitality
Trading
Professional Services
Energy
Transportation and Logistics
Relevant Teams
Legal
Finance
Corporate Affairs
Treasury
Compliance
Risk Management
Corporate Governance
Board Secretariat
Banking Operations
Executive Office
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Finance Director
Company Secretary
Legal Counsel
Corporate Affairs Manager
Finance Manager
Treasury Manager
Board Director
Managing Director
General Manager
Financial Controller
Compliance Officer
Risk Manager
Banking Relationship Manager
Corporate Governance Officer
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