Board resolution
A formal decision recorded by a company's board of directors under the company's governance rules.
Definition
A board resolution can authorise contracts, bank accounts, property transactions, borrowing, litigation, business rescue, share issues, director changes, or other company actions. The practical review should check the Companies Act context, MOI, notice and quorum, directors present, conflicts, voting threshold, wording of the authority, supporting minutes, CIPC records where relevant, and whether shareholders or another approval is also needed.
Key takeaways
A formal decision recorded by a company's board of directors under the company's governance rules.
Corporate Law
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Related legal problems
This glossary provides general information only and does not constitute legal advice.
Common situations
Company authority to sign
Director dispute
Corporate governance review
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What does Board resolution mean?
A formal decision recorded by a company's board of directors under the company's governance rules.
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