Board Resolution
A Board Resolution is a formal decision made by a company's board of directors at a board meeting or via a written circular resolution. These decisions are then officially recorded in the company's minute book.
Why is a Board Resolution Important?
Board Resolutions are used for making and documenting the day-to-day operational and management decisions that fall within the directors' authority. They provide a legal and auditable record that a decision was properly authorized by the board.
Frequently Asked Questions
When is a Board Resolution required?
It is required for most significant management actions, such as opening a bank account, appointing a new CEO, entering into major contracts, or declaring an interim dividend.
Who can vote on a Board Resolution?
Only the appointed directors of the company can vote on a Board Resolution
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