A Board Resolution To Approve Loan is an essential corporate document required when a company in Malta seeks to obtain financing through a loan arrangement. This document is necessary to demonstrate proper corporate governance and compliance with the Malta Companies Act (Cap. 386) and the company's articles of association. It is typically required by lenders as evidence that the company has properly authorized the loan transaction and that the individuals signing the loan documents have the authority to do so. The resolution should contain specific details about the approved loan terms, any security arrangements, and designate authorized signatories. It serves as a crucial record of the board's decision-making process and helps protect both the company and its directors by documenting that proper procedures were followed in approving the loan.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Company Details: Full legal name and registration number of the company
3. Present and Absent: List of directors present at and absent from the meeting, establishing quorum
4. Chairperson: Identification of the meeting's chairperson
5. Notice and Quorum: Confirmation that proper notice was given and quorum requirements were met
6. Background: Brief explanation of why the loan is needed and its intended purpose
7. Consideration of Loan Terms: Overview of the key loan terms presented to the board
8. Declaration of Interests: Directors' declarations of any interests in the proposed loan
9. Main Resolution: Formal resolution text approving the loan and its terms
10. Authorization: Specific authorization for designated officers to execute loan documents
11. Certification: Secretary's or Chairman's certification of the resolution's accuracy
1. Related Party Disclosures: Required when the loan involves related parties, detailing the nature of relationships and compliance with relevant regulations
2. Security Arrangements: Needed when the loan includes collateral or security provisions
3. Regulatory Compliance: Required for regulated entities or when specific regulatory approvals are needed
4. Financial Assessment: Include when board needs to document their assessment of the company's ability to service the loan
5. Shareholder Approval: Required when the loan size or nature requires shareholder approval under the articles of association
1. Schedule 1 - Loan Terms: Detailed terms of the loan including amount, interest rate, repayment schedule, and conditions
2. Schedule 2 - Term Sheet: Copy of the term sheet or loan offer from the lender
3. Schedule 3 - Financial Projections: If relevant, financial projections showing ability to service the loan
4. Appendix A - Powers of Attorney: If required, forms appointing specific officers to execute loan documents
5. Appendix B - Supporting Documents: Any additional documents referenced in the resolution or required by the lender
Relevant legal definitions
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Financial Services
Banking
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Professional Services
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Relevant Teams
Legal
Finance
Corporate Secretariat
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Risk Management
Corporate Governance
Board Secretariat
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Relevant Roles
Chief Executive Officer
Managing Director
Chief Financial Officer
Finance Director
Company Secretary
Legal Counsel
Corporate Lawyer
Board Director
Chairman
Treasury Manager
Financial Controller
Compliance Officer
Risk Manager
Corporate Governance Officer
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