Document background
The Unanimous Resolution of Shareholders is a fundamental corporate governance tool in South African business law, primarily used when all shareholders need to formally approve company actions without holding a physical meeting. This document type is explicitly recognized under the Companies Act 71 of 2008 and provides a streamlined alternative to traditional shareholder meetings. It's particularly valuable for private companies, closely-held corporations, and situations requiring rapid decision-making. The resolution can address various corporate actions, from routine matters like adopting financial statements to significant decisions such as major asset disposals, share issues, or changes in company structure. Each resolution must comply with South African corporate law requirements, including proper documentation of the decision, company details, and authenticated signatures from all shareholders or their authorized representatives.
