A Corporate Resolution Bank Account Authorized Signers document is essential for South African companies to establish and maintain proper banking relationships. This formal resolution is required whenever a company needs to designate or change authorized signatories for its bank accounts, ensuring compliance with the Companies Act 71 of 2008, FICA, and other relevant banking regulations. The document serves as evidence of the board's decision and provides banks with clear instructions regarding who can operate accounts and under what conditions. It typically includes details about signing powers, transaction limits, and specific banking services authorized for each signatory. This resolution is particularly important during leadership changes, company restructuring, or when establishing new banking relationships, and must be regularly updated to reflect any changes in authorized personnel or banking requirements.
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1. Company Information: Legal name of the company, registration number, and registered address
2. Meeting Details: Date, time, location of the meeting, and confirmation of quorum
3. Resolution Authority: Statement confirming the board's authority to pass the resolution under the company's governing documents
4. Bank Account Details: Identification of the bank(s) and account(s) covered by the resolution
5. Authorization: Core resolution text authorizing specific individuals to operate the accounts
6. Signing Powers: Detailed specification of signing limits, combinations, and restrictions
7. Certification: Declaration of the resolution's validity and adoption
8. Authentication: Space for company secretary or director's signature to certify the resolution
1. Digital Banking Services: Authorization for online banking access and electronic transaction capabilities
2. Special Instructions: Any specific requirements for particular transactions or accounts
3. Foreign Currency Accounts: Additional provisions for foreign currency accounts if applicable
4. Superseding Clause: Statement revoking previous banking resolutions if replacing existing mandates
5. Term of Authorization: If the authorization is time-limited or conditional
1. Schedule A - Authorized Signatories: Detailed list of authorized signers including full names, ID numbers, positions, and specimen signatures
2. Schedule B - Account Details: Comprehensive list of all bank accounts covered by the resolution
3. Schedule C - Signing Matrix: Table showing signing combinations and transaction limits for different types of transactions
4. Appendix 1 - Supporting Documents: Copies of ID documents, proof of address, and other KYC documents for authorized signers
5. Appendix 2 - Bank Forms: Bank-specific forms required to implement the resolution
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