The Banking Resolution Template is a critical governance document used when a company needs to establish or modify its banking arrangements. It is particularly relevant under English and Welsh law when opening new bank accounts, changing authorized signatories, or establishing new banking relationships. The template ensures compliance with both Companies Act 2006 requirements and financial services regulations, providing banks with the necessary assurance that individuals acting on behalf of the company are properly authorized to do so. This document typically results from a formal board meeting and must be properly executed to be legally valid.
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1. Title and Date: Identifying information and date of resolution
2. Company Details: Full legal name, registration number, and registered address
3. Meeting Details: Date, time, location, and attendance information
4. Quorum Confirmation: Statement confirming meeting quorum requirements were met
5. Resolutions: Clear statements of the decisions being made
6. Authorized Signatories: Details of who is authorized to sign on behalf of the company
1. Specific Banking Powers: Detailed powers granted for specific banking activities, used when specific banking authorities need to be granted
2. Online Banking Authorization: Authorization for digital banking services, included when online banking access is required
3. Foreign Currency Dealings: Authorization for foreign exchange transactions, included when international banking is involved
1. Schedule of Authorized Persons: Detailed list of authorized individuals and their signing powers
2. Specimen Signatures: Sample signatures of authorized signatories
3. Banking Facilities: Details of specific banking facilities being authorized
4. Identity Documentation: Copies of required identification documents for authorized persons
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