A Board Resolution For Disposal of Assets is a crucial corporate governance document required under Qatar's legal framework when a company intends to sell, transfer, or otherwise dispose of significant assets. This document is essential for demonstrating proper corporate authorization and compliance with Qatar Commercial Companies Law (Law No. 11 of 2015). It's typically used when disposing of major equipment, real estate, subsidiaries, or other substantial assets that require board-level approval. The resolution must include specific details about the assets, transaction terms, and authorizations, while ensuring compliance with the company's articles of association and relevant regulatory requirements. For listed companies, additional requirements from the Qatar Financial Markets Authority may apply, particularly regarding disclosure obligations and shareholder interests.
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1. Title and Date: Formal title of the resolution and date of the board meeting
2. Company Information: Full legal name of the company, registration number, and registered address
3. Attendance and Quorum: List of board members present and confirmation of meeting quorum requirements
4. Background: Context of the proposed asset disposal and business rationale
5. Definitions: Key terms used in the resolution
6. Asset Description: Detailed description of the assets to be disposed of
7. Consideration: Details of the sale price or other consideration for the assets
8. Board Determinations: Statement of the board's findings regarding the fairness and benefit of the transaction
9. Resolution: The formal resolution text approving the asset disposal
10. Authorization: Empowerment of specific officers to execute the disposal
11. Signature Block: Space for chairman/secretary signatures and company seal
1. Regulatory Compliance: Required when the disposal needs specific regulatory approvals
2. Related Party Disclosure: Required when the disposal involves related parties
3. Risk Factors: Added when significant risks need to be acknowledged
4. Special Conditions: Included when there are specific conditions attached to the disposal
5. Use of Proceeds: Required when specific allocation of disposal proceeds needs to be documented
6. Tax Considerations: Added when there are significant tax implications to be noted
7. Employee Matters: Required when disposal affects employment relationships
1. Schedule 1 - Detailed Asset Description: Comprehensive list and description of assets being disposed
2. Schedule 2 - Valuation Report: Independent valuation of the assets (if applicable)
3. Schedule 3 - Transaction Documents: List of all related transaction documents to be executed
4. Appendix A - Board Meeting Minutes: Extract of relevant board meeting minutes
5. Appendix B - Legal Due Diligence Report: Summary of legal review (if applicable)
6. Appendix C - Financial Impact Statement: Analysis of financial impact of the disposal
7. Appendix D - Regulatory Approvals: Copies of any required regulatory approvals
Relevant legal definitions
Clauses
Relevant Industries
Manufacturing
Real Estate
Energy and Resources
Financial Services
Healthcare
Retail
Construction
Telecommunications
Hospitality
Industrial
Technology
Transportation and Logistics
Relevant Teams
Legal
Finance
Compliance
Corporate Governance
Risk Management
Operations
Asset Management
Treasury
Corporate Secretariat
Investment
Property Management
Business Development
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Board Chairman
Board Secretary
Corporate Secretary
Legal Counsel
Compliance Officer
Asset Manager
Finance Director
Operations Director
Risk Manager
Company Director
Managing Director
Investment Officer
Property Manager
Treasury Manager
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