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Resolution Of Authority

Resolution Of Authority Template for United Arab Emirates

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Key Requirements PROMPT example:

Resolution Of Authority Template

"I need a Resolution of Authority Template for our UAE-based manufacturing company to authorize our new CFO to handle all banking transactions and financial matters up to AED 5 million per transaction, effective from March 1, 2025."

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Document background
The Resolution of Authority Template is a fundamental corporate governance document used in the United Arab Emirates when companies need to formally delegate authority to specific individuals to act on behalf of the organization. This document becomes necessary when companies need to authorize representatives for banking operations, government transactions, contract signings, or other significant business activities. The template must comply with UAE Federal Law No. 2 of 2015 and related regulations, typically requiring proper authentication and potentially notarization depending on its use. The Resolution of Authority specifies the scope of powers granted, any limitations, duration of authority, and reporting requirements, serving as a crucial tool for maintaining clear accountability while enabling efficient business operations.
Suggested Sections

1. Company Information: Full legal name of the company, registration number, and registered address

2. Meeting Details: Date, time, location of the board/shareholder meeting where the resolution was passed

3. Attendance Record: List of board members/shareholders present and confirmation of quorum

4. Recitals: Background information explaining the purpose and context of granting the authority

5. Definitions: Key terms used in the resolution defined for clarity

6. Resolution Statement: The formal statement of the board/shareholders resolving to grant the authority

7. Scope of Authority: Detailed description of powers being granted and their limitations

8. Authorized Persons: Details of individuals being granted authority, including their full names and positions

9. Duration and Validity: Time period for which the authority is valid and any renewal provisions

10. Execution Requirements: Signature requirements and authentication procedures

Optional Sections

1. Reporting Requirements: Include when the authorized persons need to report back to the board on their actions

2. Revocation Clause: Include when there's a need to specify conditions under which the authority can be revoked

3. Delegation Powers: Include when authorized persons need the ability to sub-delegate their authority

4. Specific Transaction Details: Include when the authority is being granted for specific transactions or projects

5. Conflict Resolution: Include when multiple authorized persons are appointed and their decision-making hierarchy needs to be established

Suggested Schedules

1. Schedule 1 - Authorized Signatories Matrix: Detailed matrix showing signing authorities and their respective transaction limits

2. Schedule 2 - Specimen Signatures: Specimen signatures of all authorized persons for verification purposes

3. Schedule 3 - Required Documentation: List of supporting documents required for exercising the authority

4. Appendix A - Board/Shareholder Resolution: Copy of the relevant board or shareholder resolution approving the authority

5. Appendix B - Power of Attorney Template: Template for Power of Attorney if required for specific transactions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Banking and Financial Services

Real Estate and Construction

Manufacturing

Trading and Commerce

Healthcare

Technology and Communications

Energy and Utilities

Professional Services

Retail and Consumer Goods

Transportation and Logistics

Education

Hospitality and Tourism

Relevant Teams

Legal

Corporate Governance

Compliance

Finance

Operations

Risk Management

Treasury

Procurement

Human Resources

Board Secretariat

Internal Audit

Corporate Affairs

Relevant Roles

Chief Executive Officer

Managing Director

General Manager

Board Member

Company Secretary

Chief Financial Officer

Legal Director

Head of Operations

Regional Manager

Department Head

Compliance Officer

Risk Manager

Treasury Manager

Procurement Manager

Human Resources Director

Industries
UAE Federal Law No. 2 of 2015 (Commercial Companies Law): Primary legislation governing corporate entities in the UAE, including provisions for corporate authority, delegation of powers, and management responsibilities
UAE Civil Code (Federal Law No. 5 of 1985): Governs contractual relationships and agency principles, including rules on delegation of authority and legal representation
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Regulates commercial activities and transactions, including requirements for commercial documentation and authority
UAE Federal Law No. 4 of 2000: Concerns UAE Securities and Commodities Authority, relevant for publicly listed companies' corporate governance and authority delegation
UAE Corporate Governance Resolution No. 3 of 2020: Provides detailed guidelines on corporate governance practices, including delegation of authority and decision-making processes
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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