A Partnership Firm Resolution For Opening Bank Account is essential when partnerships in England and Wales seek to establish banking relationships. This document is required by financial institutions as proof that the partnership has properly authorized the opening of bank accounts and designated specific individuals to operate them. The resolution must comply with the Partnership Act 1890 and current banking regulations, including Money Laundering Regulations 2017. It typically includes details of authorized signatories, operating mandates, and specific banking services required by the partnership.
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1. Title and Date: Resolution date and partnership firm details
2. Present Partners: List of partners present at the meeting
3. Resolution Declaration: Statement declaring the meeting was properly convened
4. Bank Account Details: Specified bank and type of account to be opened
5. Authorized Signatories: Named partners authorized to operate the account
6. Operating Instructions: Signing authorities and operation rules
1. Additional Services: Authorization for internet banking, cards and other banking services when required
2. Special Instructions: Any specific operational requirements or conditions for account operation
3. Borrowing Powers: Authorization for overdraft or lending facilities when credit facilities are needed
1. List of Partners: Complete details of all partners including addresses and contact information
2. Specimen Signatures: Signature specimens of authorized signatories
3. Partnership Deed Extract: Relevant extracts showing authority to open bank accounts
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