A Partnership Firm Resolution For Opening Bank Account is a critical document required when a partnership firm in Malaysia needs to establish banking relationships. This document is necessary to comply with Malaysian banking regulations and the Partnership Act 1961, serving as formal evidence of the partners' collective decision to open and operate a bank account. It becomes particularly important when setting up a new partnership, changing banking arrangements, or modifying authorized signatories. The resolution typically includes details about the partnership, specific banking arrangements, authorized signatories, operational mandates, and any special conditions. Banks in Malaysia require this resolution as part of their due diligence process and to ensure compliance with regulatory requirements, including anti-money laundering regulations.
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1. Title and Date: Formal title of the resolution and date of passing
2. Partnership Details: Full name of partnership firm, registration number, and principal place of business
3. Meeting Details: Date, time, venue of the partners' meeting where resolution was passed
4. List of Present Partners: Names of all partners present at the meeting
5. Resolution for Bank Account: Main resolution text authorizing the opening of bank account
6. Bank Details: Name and branch of the chosen bank where account is to be opened
7. Authorized Representatives: Names and details of partners authorized to operate the account
8. Operating Instructions: Signing authorities and operational mandates for the account
9. Declaration: Confirmation that resolution was passed in accordance with partnership deed
10. Authentication: Signatures of all partners certifying the resolution
1. Additional Banking Services: Authorization for specific banking services like internet banking, credit facilities - include when partnership requires these services
2. Specimen Signatures: Section for specimen signatures of authorized signatories - include when required by bank
3. Special Conditions: Any special conditions or restrictions on account operation - include when specific operational limitations are needed
4. Previous Resolution Supersession: Statement superseding any previous banking resolutions - include when replacing existing banking mandates
1. Schedule A - List of Authorized Signatories: Detailed list of authorized signatories with their specimen signatures and signing powers
2. Schedule B - Required Documents: Checklist of documents to be submitted to the bank
3. Appendix 1 - Partnership Deed Extract: Relevant extract from partnership deed showing authority to open bank accounts
4. Appendix 2 - Partner Identification: Copies of identification documents of all partners
Relevant legal definitions
Clauses
Relevant Industries
Professional Services
Retail
Manufacturing
Construction
Agriculture
Technology
Healthcare
Hospitality
Trading
Consulting
Real Estate
Transportation
Education
Financial Services
Relevant Teams
Legal
Finance
Compliance
Operations
Administration
Risk Management
Corporate Secretarial
Banking Relations
Relevant Roles
Managing Partner
Senior Partner
Finance Manager
Compliance Officer
Legal Counsel
Company Secretary
Account Manager
Business Development Manager
Operations Manager
Administrative Officer
Partnership Accountant
Risk Manager
Banking Relationship Manager
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